{"id":15845,"date":"2012-08-27T15:37:41","date_gmt":"2012-08-27T19:37:41","guid":{"rendered":"http:\/\/www.ino.com\/blog\/?p=15845"},"modified":"2012-08-27T15:37:41","modified_gmt":"2012-08-27T19:37:41","slug":"gold-chart-of-the-week-3","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2012\/08\/gold-chart-of-the-week-3\/","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 27-August 31)<\/strong><\/span><\/strong><\/p>\n<p>After three months of a painfully rangy trade, Gold Bugs were finally rewarded for their patience. Last week, after December Futures traded above $1630, the technical buy was on. Not only did the futures price test the 200 day moving average (what I suspected would be the short term target), it traded straight through before finally topping out over twenty dollars an ounce higher! \u00a0Furthermore, we begin this week with Gold printing another new high overnight.<\/p>\n<p>It seemed last week that Gold prices were once again trading the fundamentals that once dictated direction. Here are a few factors that were baked into last week\u2019s rally:<!--more--><\/p>\n<p><strong>FOMC announcement that stated \u201cmany members\u201d would support further \u00a0stimulus if the economy did not show sustainable positive results.<\/strong><\/p>\n<p><strong>Potential for a major \u201caccommodative\u201d approach from the ECB upcoming<\/strong><\/p>\n<p><strong>Reports of large bullion purchases in Europe, China, and India<\/strong><\/p>\n<p><strong>Anticipation of this week\u2019s Jackson Hole Symposium producing a major announcement that would affect global markets<\/strong><\/p>\n<p><strong><\/strong>This week is fairly light on economic news that would produce anything close to Ben Bernanke\u2019s speech from Jackson Hole on Friday. From this same event in 2010, QE2 was announced and in 2011, Operation Twist was laid out. There is speculation that the FOMC\u2019s \u201csupportive stance\u201d last week proves that the US will again announce a large scale idea after concluding. \u00a0All eyes will be on this announcement and traders will stand ready to act. If the meeting provides nothing new to the market, one would expect most of the anticipatory buying to turn into heavy liquidation until Europe finishes their meetings the following week.<\/p>\n<p>I expect this week to stay light in volume with a choppy trade until we have a final decision from Jackson Hole, Wyoming at the end of the week. Once a decision is final, the directional trade should be back in play.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"\/img\/sites\/ino\/email\/4695.jpg\" alt=\"\" width=\"833\" height=\"584\" \/><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/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 27-August 31) After three months of a painfully rangy trade, Gold Bugs were finally rewarded for their patience. Last week, [&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":[4300,4298,23,2315,7948,4299],"class_list":["post-15845","post","type-post","status-publish","format-standard","hentry","category-general","tag-brian-booth","tag-chart-of-the-week","tag-gold","tag-gold-chart","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:\/\/www.ino.com\/blog\/2012\/08\/gold-chart-of-the-week-3\/\" \/>\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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