{"id":15701,"date":"2012-08-13T16:00:58","date_gmt":"2012-08-13T20:00:58","guid":{"rendered":"http:\/\/www.ino.com\/blog\/?p=15701"},"modified":"2012-08-13T15:25:38","modified_gmt":"2012-08-13T19:25:38","slug":"gold-chart-of-the-week","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2012\/08\/gold-chart-of-the-week\/","title":{"rendered":"Gold Chart of the Week"},"content":{"rendered":"<p>Each week <a href=\"http:\/\/www.longleaftrading.com\/\" target=\"_blank\">Lo<\/a><a href=\"http:\/\/www.ino.com\/blog\/wp-content\/uploads\/2008\/05\/images-3.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-448\" title=\"gold bars\" src=\"\/\/www.ino.com\/blog\/wp-content\/uploads\/2008\/05\/images-3.jpg\" alt=\"\" width=\"123\" height=\"96\" \/><\/a><a href=\"http:\/\/www.longleaftrading.com\/\" target=\"_blank\">ngleaftrading.com<\/a> 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.<\/p>\n<p><strong><span style=\"text-decoration: underline;\"><strong>WEEKLY GOLD SERIES (August 13-August 17)<\/strong><\/span><\/strong><\/p>\n<p>If Gold traders were patient throughout last week\u2019s choppy trade, those who held long positions were rewarded on Friday with a convincing move higher. Throughout the early part of the week, we saw the Euro Currency correcting its rally from the prior week, and this action sent the US Dollar up to resistance, which ultimately kept a lid on any hope for a bounce in the Gold.<!--more--><\/p>\n<p>Without any big news last week to follow the promises to save the Euro, and without any further developments to follow the FOMC and ECB policy statements, major markets including Gold were overall fairly stagnant and light in volume. It was not until after the US Trade Balance Deficit showed a decline during June and there was a decline in weekly jobless claims, that the Gold futures caught a decent bid.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"\/img\/sites\/ino\/email\/4673.jpg\" alt=\"\" width=\"505\" height=\"444\" \/><\/p>\n<p>As you can see on the chart provided, the choppy action in last week\u2019s trade kept Gold futures above the 50 day moving average (Green) and right on the 100 day moving average (Red). After closing above the 100 day on Thursday, Gold had an outside up day to close the week. Normally, I would use the outside up day as an indicator for a continued rally into this week. While I am optimistic, I also remain cautious because of the prior chart highs above Fridays close. Throughout the months of June and July, December Gold futures have rallied into the high 1620\u2019s and low 1630\u2019s, and have failed each time.<\/p>\n<p>This week, I will be paying close attention to the Euro Area GDP report and how it affects the Euro Currency and the US Dollar. If the Euro can stay steady or correct last week\u2019s decline, this should help pressure the US Dollar, which in turn would support Gold prices. If the Euro happens to fail miserably this week, we will not get the chance to see if Gold can finally break and close above the Summer high prices in the low 1630\u2019s. I feel that last Fridays close in Gold was a good sign for Gold Futures, but I also know that technicians will be looking for convincing closes above the June and July high prices before they target the 200 day moving average (Blue).<\/p>\n<p>Good luck this week in the markets. And please feel free to call or email my office. As a Senior Market Strategist with Long Leaf Trading, I advise customers in the futures markets and welcome any input from fellow traders. I can be reached toll free at (888) 272-6926 or by email at <a href=\"mailto:bb****@lo*************.com\" data-original-string=\"T30aDYmoUQotSmHsBAlNhePh\/2ZanTnC85IzWO+WJvk=\" title=\"This contact has been encoded by Anti-Spam by CleanTalk. Click to decode. To finish the decoding make sure that JavaScript is enabled in your browser.\"><span \n                data-original-string=\"T30aDYmoUQotSmHsBAlNhePh\/2ZanTnC85IzWO+WJvk=\"\n                class=\"apbct-email-encoder\"\n                title=\"This contact has been encoded by Anti-Spam by CleanTalk. Click to decode. To finish the decoding make sure that JavaScript is enabled in your browser.\"><br \/>\n        <span class=\"apbct-ee-blur-group\"><br \/>\n            <span class=\"apbct-ee-blur_email-text\">bb****@lo*************.com<\/span><br \/>\n            <span class=\"apbct-ee-static-blur\"><br \/>\n                <span class=\"apbct-ee-blur apbct-ee-blur_rectangle-init\"><\/span><br \/>\n                <span class=\"apbct-ee-blur apbct-ee-blur_rectangle-soft\"><\/span><br \/>\n                <span class=\"apbct-ee-blur apbct-ee-blur_rectangle-hard\"><\/span><br \/>\n            <\/span><br \/>\n            <span class=\"apbct-ee-animate-blur\"><br \/>\n                <span class=\"apbct-ee-blur apbct-ee-blur_rectangle-init apbct-ee-blur_animate-init\"><\/span><br \/>\n                <span class=\"apbct-ee-blur apbct-ee-blur_rectangle-soft apbct-ee-blur_animate-soft \"><\/span><br \/>\n                <span class=\"apbct-ee-blur apbct-ee-blur_rectangle-hard apbct-ee-blur_animate-hard\"><\/span><br \/>\n            <\/span><br \/>\n        <\/span><br \/>\n<\/span><\/a><\/p>\n<p>Thank you for your interest,<\/p>\n<p>Brian Booth<\/p>\n<p>Senior Market Strategist<\/p>\n<p><a href=\"mailto:bb****@lo*************.com\" data-original-string=\"T30aDYmoUQotSmHsBAlNhePh\/2ZanTnC85IzWO+WJvk=\" title=\"This contact has been encoded by Anti-Spam by CleanTalk. Click to decode. To finish the decoding make sure that JavaScript is enabled in your browser.\"><span \n                data-original-string=\"T30aDYmoUQotSmHsBAlNhePh\/2ZanTnC85IzWO+WJvk=\"\n                class=\"apbct-email-encoder\"\n                title=\"This contact has been encoded by Anti-Spam by CleanTalk. Click to decode. To finish the decoding make sure that JavaScript is enabled in your browser.\"><br \/>\n        <span class=\"apbct-ee-blur-group\"><br \/>\n            <span class=\"apbct-ee-blur_email-text\">bb****@lo*************.com<\/span><br \/>\n            <span class=\"apbct-ee-static-blur\"><br \/>\n                <span class=\"apbct-ee-blur apbct-ee-blur_rectangle-init\"><\/span><br \/>\n                <span class=\"apbct-ee-blur apbct-ee-blur_rectangle-soft\"><\/span><br \/>\n                <span class=\"apbct-ee-blur apbct-ee-blur_rectangle-hard\"><\/span><br \/>\n            <\/span><br \/>\n            <span class=\"apbct-ee-animate-blur\"><br \/>\n                <span class=\"apbct-ee-blur apbct-ee-blur_rectangle-init apbct-ee-blur_animate-init\"><\/span><br \/>\n                <span class=\"apbct-ee-blur apbct-ee-blur_rectangle-soft apbct-ee-blur_animate-soft \"><\/span><br \/>\n                <span class=\"apbct-ee-blur apbct-ee-blur_rectangle-hard apbct-ee-blur_animate-hard\"><\/span><br \/>\n            <\/span><br \/>\n        <\/span><br \/>\n<\/span><\/a><\/p>\n<p>888.272.6926<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>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 SERIES (August 13-August 17) If Gold traders were patient throughout last week\u2019s choppy trade, those who held long positions were rewarded on [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[4300,4298,23,7948,4299],"class_list":["post-15701","post","type-post","status-publish","format-standard","hentry","category-general","tag-brian-booth","tag-chart-of-the-week","tag-gold","tag-guest-bloggers","tag-longleaftrading-com"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v23.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Gold Chart of the Week - INO.com Trader&#039;s Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wwwtest.ino.com\/blog\/2012\/08\/gold-chart-of-the-week\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gold Chart of the Week - INO.com Trader&#039;s Blog\" \/>\n<meta property=\"og:description\" content=\"Each week Longleaftrading.com will be providing us a chart of the week as analyzed by a member of their team. 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