{"id":17141,"date":"2012-11-26T10:06:36","date_gmt":"2012-11-26T15:06:36","guid":{"rendered":"http:\/\/www.ino.com\/blog\/?p=17141"},"modified":"2012-11-26T10:06:36","modified_gmt":"2012-11-26T15:06:36","slug":"gold-chart-of-the-week-16","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2012\/11\/gold-chart-of-the-week-16\/","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>WEEKLY GOLD REPORT (November 26 through November 30)<\/strong><\/p>\n<p><strong><\/strong>After a strong finish last week in most major global markets, we begin this week flat after the festivities.<\/p>\n<p>Following the Thanksgiving Holiday in the United States, traders were lined up to buy anything that they could get their hands on during Friday\u2019s shortened trading day. It seemed that markets were still reacting from news earlier in the week, and probably taking advantage of the light volume opportunity.<\/p>\n<p>Throughout the shortened week, markets like Gold were moving sideways to higher following news in the United States that Democrats and Republicans were enthusiastic about the upcoming \u201cFiscal Cliff\u201d negotiations. Across the pond, European news suggested that while no final decisions were made regarding Greece yet, a good old fashioned can-kicking would suffice. The Eurogroup\/IMF Meeting will continue today to decide on Greek Debt and the next tranche of cash. Prior to the meeting, it was reported that \u201cconsiderable progress\u201d has been made. Apparently, these delayed decisions were enough for investors like George Soros and John Paulson to report they had added to their already hefty long Gold positions.<!--more--><\/p>\n<p>This week is littered with reports from Europe and the United States, but it is expected that all eyes will be on the Eurogroup\/IMF decision on Greece as well as any news from lawmakers in the United States as they return from the Holiday Break to discuss the month leading up to the \u201cFiscal Cliff\u201d. Many of the futures markets including December Metals will also see first notice date at the end of this week.<\/p>\n<p>It should come as no surprise that the December Gold Futures begin the week hovering around $1750 and ounce. I have made mention many times before that Gold usually tends to target prices in $25 increments on the way up. You can see on the daily chart provided that since filling the gap on the chart on November 2<sup>nd<\/sup> (arrow 1), the futures have been in a gradual uptrend. Prices targeted the upper end of the recent trend in Fridays rally (arrow 2) before profit taking began. As long as prices do not close below the support trendline on the daily chart around $1725, the market is still considered in an uptrend.<\/p>\n<p>Traders will likely look for Gold to retest Fridays high early this week and if the market can close above resistance, it will first target $1775 an ounce fairly quickly. Not only is this price $25 above todays price, it is also in line with a few chart highs from late last year and in the early months of this year. Ultimately, Gold Bulls would like to see the December Futures run to $1800 before first notice date on Friday. The range that is shown on the chart (diagonal blue lines) has defined key levels for this week\u2019s trade. While the range is narrowing, it is should give plenty of opportunities for day and swing traders. Plan to be ever mindful of news this week out of Europe regarding Greece and be cautious of Fridays first notice date if you plan to trade December Gold Futures. Next week the focus will turn to the February Futures contract.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"\/img\/sites\/ino\/email\/4832.jpg\" alt=\"\" width=\"750\" height=\"564\" \/><\/p>\n<p>Good luck this week traders. Please remember to feel free to contact me directly if you would like to discuss this report, or if you would like to discuss any other Futures Markets. While the Gold is showing a very good opportunity, there is a renewed interest in markets sectors like the Energies (crude and natural gas) as well as the Grains (corn, wheat and beans). You can reach me directly by phone 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,<br \/>\nBrian Booth<br \/>\nSenior Market Strategist<br \/>\n<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><br \/>\n888.272.6926<\/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 REPORT (November 26 through November 30) After a strong finish last week in most major global markets, we begin this week flat [&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":[4300,23,4499,7948,4299],"class_list":["post-17141","post","type-post","status-publish","format-standard","hentry","category-general","tag-brian-booth","tag-gold","tag-gold-chart-of-the-week","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\/11\/gold-chart-of-the-week-16\/\" \/>\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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WEEKLY GOLD REPORT (November 26 through November 30) After a strong finish last week in most major global markets, we begin this week flat [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ino.com\/blog\/2012\/11\/gold-chart-of-the-week-16\/\" \/>\n<meta property=\"og:site_name\" content=\"INO.com Trader&#039;s Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/inocom\/\" \/>\n<meta property=\"article:published_time\" content=\"2012-11-26T15:06:36+00:00\" \/>\n<meta name=\"author\" content=\"The INO.com Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"The INO.com Team\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.ino.com\/blog\/2012\/11\/gold-chart-of-the-week-16\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.ino.com\/blog\/2012\/11\/gold-chart-of-the-week-16\/\"},\"author\":{\"name\":\"The INO.com Team\",\"@id\":\"https:\/\/www.ino.com\/blog\/#\/schema\/person\/d86a8cce826b7bd105200d88bb28a280\"},\"headline\":\"Gold Chart of the Week\",\"datePublished\":\"2012-11-26T15:06:36+00:00\",\"dateModified\":\"2012-11-26T15:06:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.ino.com\/blog\/2012\/11\/gold-chart-of-the-week-16\/\"},\"wordCount\":656,\"commentCount\":5,\"publisher\":{\"@id\":\"https:\/\/www.ino.com\/blog\/#organization\"},\"keywords\":[\"Brian Booth\",\"Gold\",\"gold chart of the week\",\"Guest Bloggers\",\"longleaftrading.com\"],\"articleSection\":[\"General\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.ino.com\/blog\/2012\/11\/gold-chart-of-the-week-16\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.ino.com\/blog\/2012\/11\/gold-chart-of-the-week-16\/\",\"url\":\"https:\/\/www.ino.com\/blog\/2012\/11\/gold-chart-of-the-week-16\/\",\"name\":\"Gold Chart of the Week - 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