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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Rarebird who wrote (112479)	10/14/2020 12:14:36 AM
From: stuffbug	Respond to of 116753

I am a little more liberal (hahaha) with pivot points. My GDX pivot (daily chart) is in the $39.90s and I focus on the closing price, not intraday ranges. When a stock reverses, it is not uncommon for it to close below the pivot for one day. Two consecutive closes below the pivot will cause me to re-evaluate. The big negative is the gold price as it was unable to maintain momentum above its pivot of $1921 (futures). Gold also ran into an intermediate term down trend in the $1920s and failed to overcome resistance. 30 min gold chart is positive - maybe that's a sign of a turnaround (or dead cat bounce). In contrast silver futures have managed to stay above the pivot point at $24.10, but there is little room left for error. So, overall it's a toss-up, a coin-toss. Maybe one more down move, maybe not.