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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (29213)	4/28/2017 4:12:30 PM
From: Goose94	Read Replies (1) \| Respond to of 202668

Gold on the Edge? In the early morning trade, June gold is up slightly and currently trading at $1,266.7. After gold held up earlier in the week and showed resilience, gold bulls have to be encouraged. In fact, the June gold market has only fallen 2.8% from its high it made 8 days ago. Also, gold probably found some new safe haven buyers as a US government shutdown due to budget deadlines returned to the headlines and now with this morning’s lower Q1 GDP numbers than originally estimated. If you take a moment and look at the daily June gold chart, you’ll clearly see that gold is still in a shorter-term up trend or channel with it holding above its 200-day MA. If we keep things simple, a break above this week’s high 0f $1280.0 would leave gold prone to rally up to $1,300.0 to $1,325.0. If gold breaks below this week’s low of $1,260.7, then look for a possible sell off to $1,225.0 an ounce. Below is a daily June gold chart. Jun '17 Gold Daily Chart Nicholas DeGeorge