January 18, 2013

GOLD STAGES KEY BULLISH TECHNICAL REVERSAL $GLD $SLV $SLW $ABX $NEM,

On Thursday gold staged a bullish ‘outside day.’  In traditional technical analysis, an outside day is traced when the low of the day is lower than the previous day’s low and the high of the day is higher than the previous day’s high.  Candlestick or OHLC chart displays make it easy to see.

In the context of where it occurred on the chart, this is a bullish key technical reversal in gold.  The chart shows the pattern on gold futures.  Silver futures traced a similar pattern. Popular ETFs SPDR Gold Shares (GLD) and iShares Silver Trust (SLV) followed.

As illustrated on the chart, an early morning big decline was triggered by the release of housing and economic data. … Please click here or the title below to read more.

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WEEKLY MARKET DIGEST: GERMANY TO MOVE SOME OF ITS GOLD BACK HOME $GLD $SLV $USO $DIA $SPY $QQQ $TBF $TBT

(The Weekly Digest reproduces the morning capsules made available every morning before the market open in the Real Time Feeds to the paying subscribers.)

CHINA REBOUNDS

January 18, 2013

The fourth quarter GDP in China jumped to 7.9% breaking a streak of seven weaker quarters.  For the year, China grew at the slowest rate in more than a decade.

Bulls will use GDP number from China and good earnings from GE as justifications for trying to run the market higher.

Gold futures are at $1691, silver futures are at $31.97, and oil futures are $95.41.

S&P 500 resistance levels are 1480, 1500, and 1530; support levels are 1465, 1450, and 1444.… Please click here or the title below to read more.

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