The gold cheer leaders are behind a new bullish move for gold back to $1900 USD. Let's review the GLD chart with our very own RTTTrendPowerOBV.
With good trends volume confirms the trend, many folks have relied on the standard OBV to confirm the health of the trend. RTT members can add to this RTTTrendPower and RTTTrendPowerOBV.
Excellent chart eye candy follows after the jump...
Pan American Metals of Miami Cautions Investors Not to Forget About Silver
Most Analysts Predict Gold Prices To Continue Rising Says Pan American Metals Of Miami
If you want to see whether we're in for crushing, '70s-style inflation, take this simple test.You walk into your boss's office and explain to him that the price of food and fuel are soaring, and that you'd like a raise. He: A: Nods sympathetically and promises you'll see more cash in your paycheck at your next review.
Closing Price Reversal Top Pattern Pressuring Euro
International Business Machines Inc.(NYSE:IBM) is the highest priced stock in the Dow Jones Industrial Average(DJIA) at $160.00 a share. The DJIA is a price capitalization weighted index, therefore, IBM is the most important stock for the Dow Jones Industrial Average. Today IBM is trading lower by $2.41 a share to $159.42 a share.
The firm Dollar is helping to keep downside pressure on December Silver. This week the Greenback has shown signs of bottoming which is encouraging investors to pare positions.
Volatility is also a little higher as risk sentiment appears to be shifting. Uncertainties over the size and shape of the Fed’s expected quantitative easing package continue to be the force pressuring this metal.
December Gold Nearing Price and Time Cluster at $1295.30 to $1297.90
The stronger Dollar and the lack of demand for risky assets helped trigger a sharp break in December Gold. The daily chart indicates that price and time square at $1295.50 to $1297.90. Watch for a technical bounce at this level since this support cluster may be attractive to both new buyers and profit-takers.
USD CHF Posts Daily Closing Price Bottom; Likely Position Squaring ahead of NFP Report
Profit-taking and position squaring ahead of Friday’s U.S. Non-Farm Payrolls Report helped form a daily closing price reversal bottom in the USD CHF on Thursday.
This could be something minor or it could be the start of an overdue correction. It all depends on how traders read Friday’s U.S. employment report.