Tag: weekly gold report

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 11^th through February 15^th)

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" →

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 4^th through February 8^th)

It should come as little surprise that we begin this week correcting a portion of last week’s strong move up. After a fun filled stretch of reports in the United States, including an FOMC announcement, Consumer Confidence figures, and Employment numbers, we head into a light news calendar for the next five days here in the states. There are scheduled Interest Rate decisions this week in Australia, New Zealand, Great Britain, and from the ECB, which should bring some movement to global currencies and in turn, commodity prices.

The standout in last weeks reports in the United States was the fact that the FED announced they will maintain their usual stance on the market and will continue easing at the same pace until things improve. Continue reading "Gold Chart of The Week" →

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 (9-24 through 9-28)

After a fairly choppy trade last week, the December Gold Futures were able to pull off a rally to chart resistance last night before finally feeling the pressure of a strong US Currency. While the US Dollar spent most of last week recovering from a three week drop, Gold prices remained relatively unchanged.

Last night Gold Futures climbed to $1775 an ounce before losing momentum and falling almost $20. All of this action had taken place before the open of the pit in New York on Monday morning. I mentioned in last weeks report that key upside resistance for Gold would likely target numbers in $25 increments. I truly expected much more out of Gold, following the FED’s announcement to move forward with QE3, and especially after finding out that Japan also went back to the printing press. My target last week was $1800 and possibly $1825. While I was disappointed in the choppy market, I am pleased to see that Gold continues with the trend of using targets with $25 resistance levels. Continue reading "Gold Chart of the Week" →