Archive for October 31, 2011

Today

  • Gold Resumes its Bullish Trend but Headwinds Remain
    Looking at the daily chart for December Gold, we notice prices surging over $50 per ounce after the market broke out of its consolidation mode and moved above resistance at 1700.00. Unfortunately for Gold bulls, the upside breakout occurred on lower than average trading volume, which may make it more difficult for further upside momentum to occur as we move towards strong chart resistance above 1765.00. The 14-day RSI is struggling to move above 60.00 and has tuned downward, with a current reading of 57.60. Support for December Gold is seen at 1700.00 with resistance found at the aforementioned 1765.00 level.

  • Europe’s crisis solved? Markets to continue ripping higher?
    Those are the two key questions on every investors’ mind right now. In today’s video update, I share with you my answers for the most important markets I follow: Gold, silver, the dollar, and the Dow Industrials. Best wishes, Larry P.S. Get ALL of my timing signals, recommendations, risk reduction strategies, insights into the markets, [...]
  • Italy fears bring markets back down to Earth
    A sharp rise in yields on Italian government bonds on Friday cast a shadow over the backslapping congratulatory mood among European leaders – a reminder that despite last week’s deal, the …
  • IMM Positioning – BoJ Intervenes After Investors Added To JPY Longs
    BoJ likely triggered large position squeeze: Non-commercial investors added USD4.5bn to long yen positions last week, which took net longs back above 30 percent of open interest. This not only helps explain the recent lack of yen weakness at a time when most financial markets are in the process of pricing a lower global recession risk, but also means that the BoJ likely got a bigger bang-for-the-yen in today’s intervention. Recent Japanese interventions have not been successful in delivering sustained yen weakness, however, and until monetary policy is eased more significantly in Japan, we see a high probability of renewed yen position building over the coming weeks and hence also a correction back lower again in USD/JPY. Indeed, today (and the coming days) is likely to see analysts and investors refer to recent JPY intervention episodes and the following corrections lower in USD/JPY as a case for renewed JPY buying.

  • Technical Analysis for Precious Metals
    Friday’s hanging man candlestick pattern has prevented the metal from achieving more bullishness above the key resistance level of 1753.00 as seen on the provided daily graph. Now, we have two additional main technical factors that force us to stay aside during this week as follows:

  • Technical Analysis for Energy Markets
    The commodity started the week lower, where trading remains within the short term ascending channel, but below the main descending resistance shown on the image. The 200 days SMA is also protecting the price from above, Stochastic is clearly overbought as well, therefore for this morning we anticipate a downside pullback but for the week we need more confirmations for the next potential move, either a breach above 95.00 which will signal the continuation of the bullish wave or stability below 89.60 which may lead to further decline towards 85.00 area.

  • Gold and Forex Technical Update
    Gold: Gold is currently trading at 1711.80 levels. The precious metal weakened as strength in dollar reduced gold demand as an alternative safe haven Investment. Support is seen at 1698.22 (55 days daily EMA) and resistance is seen at 1719.40 levels (21 days 4hrly EMA). Stay away from longs until we see significant corrections. Look at initiating shorts at good resistances. Target 1700 and below again.

  • Bullion and Energy Market Commentary
    Gold closed slightly lower on Friday as it consolidated some of the rally off September’s low. The mid-range close sets the stage for a steady opening on Friday. Stochastics and the RSI are but remain bullish signalling that additional strength is possible near-term. If it extends the rally off September’s low, the 62% retracement level of the 2008-2011-rally crossing at is the next upside target. Closes below last Thursday’s low crossing atwould confirm that a short-term top has been posted.

  • GOLD: Holds Firmly Above 1,693.95 Level, Bullishness Set For 1,786.70/1,800.00 Levels
    GOLD: With GOLD returning above its resistance at the 1,693.95 level, its Oct 17’2011 high and closing strongly higher the past week, risk of further strength is now expected.In such a case, the 1,786.70 level, its Sept 22’2011 high will come as the next upside target with a turn above there opening the door for a move higher towards the 1,800 level, its psycho level. Its weekly RSI is bullish and pointing higher suggesting further strength. Alternatively, on any pullbacks, the 1,693.95 level violated the past week will come in as the initial support. We expect a reversal of roles as support to occur at this level and then turn the pair higher. However, a breach of the 1,693.95 level could see the commodity weakening further towards the 1,595.75 level and then the 1,532.90 level, its Sept’2011 low. All in all, Gold maintains a nearer term upside risk having taken out the 1,693.95 level

  • Weekly Commodity Update: Gold
    Gold futures may add to their recent gains in the week ahead, with favorable technical indicators underpinning the rally. Autochartist identified a breakout on the 30-minute chart which carries an upward bias from the current price. The projection is consistent with the overall trend higher after overcoming short term resistance.

  • Daily Commodity Update: Coffee
    Coffee futures broke through key support on the 240-minute chart late last week, triggering a breakout signal on the Autochartist platform. This may portend the beginning of the next leg down for coffee and an end of the recent counter-trend rally.

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Today

  • James Turk in conversation with Adam Fergusson
    Subscribe to our newsletter at http://www.goldmoney.com/goldresearch. Historian Adam Fergusson discusses his cult-classic history of the Weimar hyperinflation, When Money Dies, with James Turk from …
  • Weimar Germany and the lessons of history
    Historian Adam Fergusson discusses his cult-classic history of the Weimar hyperinflation, When Money Dies, with James Turk from the GoldMoney Foundation. In this video, they discuss the lessons that …
  • What brought the Weimar hyperinflation to an end?
    Historian Adam Fergusson discusses his cult-classic history of the Weimar hyperinflation, When Money Dies, with James Turk from the GoldMoney Foundation. In this video, Adam discusses the factors that …
  • Gold and hyperinflation
    Historian Adam Fergusson discusses his cult-classic history of the Weimar hyperinflation, When Money Dies, with James Turk from the GoldMoney Foundation. In this video they discuss how speculators, …
  • The social consequences of hyperinflation
    Historian Adam Fergusson discusses his cult-classic history of the Weimar hyperinflation, When Money Dies, with James Turk from the GoldMoney Foundation. In this video, James and Adam discuss the …
  • Is inflation the only way out for central banks?
    Historian Adam Fergusson discusses his cult-classic history of the Weimar hyperinflation, When Money Dies, with James Turk from the GoldMoney Foundation. In this video, they discuss whether or not, …
  • The inflation temptation
    Historian Adam Fergusson discusses his cult-classic history of the Weimar hyperinflation, When Money Dies, with James Turk from the GoldMoney Foundation. The men discuss why central bankers resort to …

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Today’s Items of Interest

Bill Black @ #occupywallstreet on Arresting Banksters – Interesting Video

Ben Davies – One Chart Says it All, Extremely Bullish for Gold – Just like it says

Think the Gold Bull Market is over? Look at this:

how investors were vested at end of 2010