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Gold Chart of The Week

Posted on by The INO.com Team

Each Week Longleaftrading.com will be providing us a chart of the week as analyzed by a member of their team. We hope that you enjoy and learn from this new feature.

Weekly Gold Report (March 4th through March 8th)

I don’t know about all of you, but if I never hear the term “sequester” for as long as I live, I will not complain!

As expected, the US Government did a fine job of hyping the event and waiting until the eleventh hour to make a decision. And as usual, no compromises were made and stock indexes barely flinched. In fact, most global markets seemed to be following scheduled news as if the “sequester” debate was not even an issue. Continue reading "Gold Chart of The Week" →

Gold Chart of The Week

Posted on by The INO.com Team

Each Week Longleaftrading.com will be providing us a chart of the week as analyzed by a member of their team. We hope that you enjoy and learn from this new feature.

Weekly Gold Report (February 25th through March 1st)

It was a gut wrenching week for those who stayed long practically anything outside of the US Dollar or the Soybeans last week. Most commodity prices saw their fair share of selling mid-week after it was rumored that a large commodity fund was taking gains in a few markets to defend another large position that they found themselves on the wrong side of. While the name of the fund or the positions are still unknown, I can only guess the fund was taking gains in long positions in the Crude Oil to defend long positions in the Metals. On Wednesday, the Crude Oil Futures took a bath early in the session and selling pressure even carried over into the Thursdays trade before consolidating on Friday. Other commodities were pressured throughout the week as the US Dollar rallied ahead of the release of last months FOMC Minutes. There was nothing particularly shocking about the report as traders expected to hear that FED officials would still be at odds regarding the duration of Quantitative Easing. On top of this release, the market also had to deal with politicians in Washington, who began their media smearing of one another regarding the upcoming Sequester, which must be decided by March 1st. Continue reading "Gold Chart of The Week" →

Gold Chart of The Week

Posted on by The INO.com Team

Each Week Longleaftrading.com will be providing us a chart of the week as analyzed by a member of their team. We hope that you enjoy and learn from this new feature.

Weekly Gold Report (February 18th through February 22nd)

Last week definitely had a “hurry up and wait” sort of feel to it. With China on a week-long break for the Lunar New Year Holiday, there was potential for light volume action across the board. And despite the fact that it has been a long time since a G20 Summit has caused any waves, traders were holding their breath and waiting on news that might have a significant impact on Currencies. The market sprinkled in a few reports in the US and in Europe, but nothing really stuck for a directional move. Continue reading "Gold Chart of The Week" →

Gold Chart of The Week

Posted on by The INO.com Team

Each Week Longleaftrading.com will be providing us a chart of the week as analyzed by a member of their team. We hope that you enjoy and learn from this new feature.

Weekly Gold Report (February 11th through February 15th)

We begin the week with the board in a sea of red as Currencies and Commodities continue to deal with last weeks ECB meeting. While the initial  Interest Rate Decision to leave rates unchanged had little effect on any major market, the language used by Mario Draghi after the fact resulted in decent profit taking in the Euro Futures. In short, he noted the three month rally in the Euro and stated that it could prompt him to revise the inflation projection for next month. Continue reading "Gold Chart of The Week" →

Commodity Chart of The Week

Posted on by The INO.com Team

Each week longleaftrading.com will be providing us with a commodity chart of the week as analyzed by a member of their team. We hope that you enjoy and learn from this new feature.

Gold has been a frustrating market for a lot of traders for the last few months. If you are the buy and hold type or one who tries to find dynamic trends to capture, gold has not been an attractive market for you. Gold, however, is now getting interesting and could provide a move this week, especially if markets get negative and a flight to safety bid enters the market.

The market has been building a solid base since the January lows and technically we are now getting to a point where a move could occur if we can penetrate the upward portion of the wedge you can see in the chart above. The top of the wedge and the 50 day moving average both come in right at 1685/ounce and a close over that level would bode well for gold if it is breached. Continue reading "Commodity Chart of The Week" →