by Bill Downey     Price Analysis of Gold and Silver
Follow Our Socials!

Click here to see the GoldTrends.net Google Plus page and subscribe! Click here to see the GoldTrends.net Facebook page and subscribe! Click here to see the GoldTrends.net Twitter page and subscribe! Click here to see outhe GoldTrends.net LinkedIn page and subscribe! Click here to see the GoldTrends.net YouTube Channel and subscribe! Click here to see the GoldTrends.net RSS feed list and subscribe!

Technical Analysis Trading Gold, Trading Silver/ analysis By Bill Downey providing key turning points & charts for investors and speculators in Precious Metals Trading, and Precious Metals Markets

Kitco



Bill Downey, of Gold Trends.net, LLC, is an Independent Investment Analyst with over twenty years of study. YOU SHOULD NOT TAKE ANY MATERIAL posted on this WEBSITE AS RECOMMENDATIONS TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED. Do your own due diligence. No one knows tomorrow's price or circumstance. The author intends to portray his thoughts and ideas on the subject which may s be used as a tool for the reader. GoldTrends does not accept responsibility for being incorrect in its speculations on market trend or key turning points that it may discuss since they are at best a calculated analysis based on historical price observations.

US. Government Required Disclaimer

Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.

CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

 

 

Gold Short and Medium Term Price Points to Watch

23 Sep 2015 3:20 PM | Bill Downey (Administrator)

Gold Short term

Gold’s pullback on Tuesday held the now KEY WEEKLY 1115-1122 area and has now bounce back to resistance near 1132.  We have 1132-1136 and also the gold downtrend line (which is the 2015 downtrend) right near 1140.   In addition the 1148-1152 area is final resistance until around 1172.   The key now is if we can hold the Tuesday low of 1122.  If so then a test of the 1134-1142 and potentially 1148-1152 should take place.  At least that’s what the odds favor.  Bottom line is if we lose 1115-1122 all bets are off for higher towards 1148.  The moving average resistance on the blue 89 hour is also at 1132 so that is the key area (1132-1136) to watch Wednesday.


Gold Medium Term

Long Term Trend ~ Bearish since Oct 2013 @ 1361

Long term Moving averages 1295 – 1386

Medium Term Trend ~bearish – Moving Averages 1184-1226

Gold continues supporting at the 1080 price area and the 50% retracement of the entire bull market.  The pullback to 1100 last week however held and the possibility that the bounce was complete has changed as gold closed back above 1122 last week.  Support remains that white line we bounced off on the lows and the three red lines under price.  Until we crack below that level it is possible for gold to continue its quest higher at the moment.  On a weekly basis, the 1172-1190 area is the resistance zone with 1222-1258 as key reversal points.  The dual yellow downtrend line is also key.  As long as we are below that area, the downtrend on a medium term is still intact for now.  On the downside, any weekly close below 1072 suggests the downtrend has resumed.  

Gold weekly price chart with support and resistance lines




Technical Analysis :: Gold & Silver

Copyright  2008 - 2015  Gold Trends.net, LLC               Email: info@goldtrends.net

Powered by Wild Apricot Membership Software