#Gold: Where Do We Go From Here ?

#Gold: What will H2 bring ?: 

See the whole post on the MasterCharts site.

#Gold - #GoldenCross at hand?

The daily chart of the gold futures shows the 50-day moving average (blue line) crossing the 200-day moving average (red line).

This is called a golden cross. The golden cross is a technical chart pattern indicating the potential for a major rally.

The MACD (lower chart) is very oversold and crossing the red line. This supports higher prices. The Relative Strength (RSI) (upper chart) is also pointing higher.

There's a feeling that the gold price is currently being held back by silver prices, as the July silver futures contract is in the delivery month and the open interest, which is high, indicates holders of the contracts are demanding delivery.  😥 

The 30-minutes Silver Chart (1 bar every 30 minute), shows how the Big Boys are putting pressure on silver prices for this very purpose.  Once this is done, we could expect higher prices for Gold & Silver across the board. 

Stay tuned! 

https://bit.ly/MasterMetals

Despite Its Recent Weakness, #Gold Holding Onto Its Long-Term Trend $GLD

#Gold Testing the Weekly Trend Line, but Bouncing Off…For Now…

Weekly Metals Charts

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MasterMetals

@MasterMetals

No doubt we saw some technical damage in #Gold this week, but the mid term trend remains intact... $GLD

#Gold managed to bounce off its midterm support line closing above $1725/oz.

Let's see if it can hold, otherwise 😰

MasterMetals Gold Charts

#Gold main Trend Up, but Momentum May Be Trending Lower

'main trend is up according to the daily swing chart, however, momentum has been trending lower since last Thursday. A trade through $1788.80 will signal a resumption of the uptrend. A move through $1576.00 will change the main trend to down.

“The new minor range is $1788.80 to $1666.20. Its 50% level or pivot at $1727.50 is potential resistance. Watch for aggressive countertrend sellers on the first test of this level. They are going to try to form a secondary lower top.

“The short-term range is $1576.00 to $1788.80. Its retracement zone at $1682.40 to $1657.30 is potential support. This zone helped stop the selling pressure on Tuesday at $1666.20.”

see the post on MasterCharts here: #Gold main Trend Up, but Momentum Trending Lower

#Gold looking to go into this holiday weekend with a strong push above $1700

Gold Last at $1733.50/oz. up $49.20 (+2.92%)

https://mastermetalsblog.blogspot.com/p/blog-page_4.html
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MasterMetals
@MasterMetals

#Gold Closes above $1500/oz for the week $GLD $GDX $GDXJ

Time to buy, don’t get left out. 

Looking good breaking out of the flag

Ditto on The ETF

Same for the Gold Mining Stocks. 

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MasterMetals
@MasterMetals

#Gold & #Silver Jump

24 Hour Spot Gold & Silver: Gold & Silver Charts