{"id":17873,"date":"2013-01-14T11:16:19","date_gmt":"2013-01-14T16:16:19","guid":{"rendered":"http:\/\/www.ino.com\/blog\/?p=17873"},"modified":"2013-01-14T11:16:43","modified_gmt":"2013-01-14T16:16:43","slug":"gold-chart-of-the-week-22","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2013\/01\/gold-chart-of-the-week-22\/","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\" alt=\"\" src=\"\/\/www.ino.com\/blog\/wp-content\/uploads\/2008\/05\/images-3.jpg\" 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><b>Weekly Gold Report (January 14 through January 18)<\/b><\/p>\n<p>Week two of 2013 is behind us and as we look ahead to week three, the US earnings reports are on the front burner. This week, a few major US banks and heavy hitters like General Electric and Intel will report earnings and share their thoughts on potential growth. The sentiment of major corporations in the United States will be key again this year as they contemplate investing funds that were sidelined last year, due to political and economic uncertainty. Stock indexes seem to be pricing in favorable news as they climbed above the prior chart highs from September. The tricky part of the first earnings report of this year is the fact that movement in either direction will have to consider the upcoming debate in Washington surrounding the second half of the Fiscal Cliff, and whether the government can find common ground on taxes and spending.<!--more--><\/p>\n<p>Traders and investors both foreign and domestic will look for clues from these corporations and from Washington in order to decide whether or not they should feel comfortable in positions long term. I have been advising my customers to look for technical levels to purchase Precious Metals on dips and to adjust the trade as the market allows. A longer term hold will depend on technical breakouts.<\/p>\n<p>Over the last two weeks, I recommended two long positions in the Metals to my traders. First I recommended buying Gold and Silver before the Fiscal Cliff negotiations were completed. After the spike up on January 2<sup>nd<\/sup>, the recommendation was to adjust orders to preserve gains and the position was filled the next day. When the futures dropped on January 4<sup>th<\/sup>, I recommended buying the dip again as I noticed the trendline from the Summer lows was targeted on the drop (arrow #1). Since that time, I recommended adjusting the position again to preserve gains. This time, the market has cooperated and allowed the trade time to see if Gold can begin closing above the obvious resistance trendline (arrow #2). In the short term, the early strength in Metals suggests we may finally break above and out of the downward trend. The obvious next target above $1680 will be $1700 an ounce. A failure to break out would leave me waiting for the market to test support near $1640 again before I would consider another long position.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" alt=\"\" src=\"\/img\/sites\/ino\/email\/4934.jpg\" width=\"764\" height=\"637\" \/><\/p>\n<p>Good luck this week and as always, feel free to contact me directly 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> or by phone at (888) 272-6926.<\/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<p>** Futures trading involves risk of loss and is not suitable for all investors.\u00a0 Past performance is not necessarily indicative of future results<\/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 (January 14 through January 18) Week two of 2013 is behind us and as we look ahead to week three, the [&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-17873","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\/2013\/01\/gold-chart-of-the-week-22\/\" \/>\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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