{"id":19681,"date":"2013-04-15T16:11:59","date_gmt":"2013-04-15T20:11:59","guid":{"rendered":"http:\/\/www.ino.com\/blog\/?p=19681"},"modified":"2013-04-15T16:11:59","modified_gmt":"2013-04-15T20:11:59","slug":"gold-chart-of-the-week-34","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2013\/04\/gold-chart-of-the-week-34\/","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 class=\"MsoNormal\"><b>Weekly Gold Report (April 15<sup>th<\/sup> through April 19<sup>th<\/sup>)<\/b><\/p>\n<p class=\"MsoNormal\"><b>\u00a0<\/b>It has been a few years since the Precious Metals have seen a Friday selloff followed by an even bigger Sunday night drop, but anyone that has been trading since 2008 remembers prior price action like this. And when any sector of the market experiences drops like these, everyone will be racing to the television and internet hoping to find someone bold enough to confidently call \u201cTHE LOW\u201d. As far as this article and this drop are concerned, I think it is way too early to begin spouting target prices for a low. With all of the expected margin calls and positioning that will follow, I feel the best thing to do is be patient and let things in the Metals settle down before stepping in for a long term play. There should be many intraday trades available thanks to the expected volatility, but the long term play will be too difficult to depend on this early in the week.<!--more--><\/p>\n<p class=\"MsoNormal\">The Metals have been under so much pressure lately for a litany of reasons. In the US, we heard last week, that the FED may look to scale back on easing throughout this year and with stock indexes testing new highs last week, there is less reason for a \u201cflight to safety\u201d bid in Metals. In Europe, there was news that Cyprus may be forced to sell Gold bullion in an effort to raise capital, which could prompt other European banks to follow suit. And most recently, the markets had to digest a number of economic data misses from China. In an effort to keep everyone on their toes, we are about to embark on a week when we will hear from multiple FED members and the Treasury Secretary in the US, along with ECB President Mario Draghi, who will all discuss their views on global markets.<\/p>\n<p>With very little support on the weekly chart around $1400 in the early going, the selling pressure on the Gold Futures may continue and attempt to force prices to $1300 or slightly lower as seen on the chart. I think it is too early to try to pick intraday support and resistance levels this early in the week. After a few days of data are input into the equation, this will be a great market to trade shorter term.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" alt=\"\" src=\"\/img\/sites\/ino\/email\/5088.jpg\" width=\"679\" height=\"657\" \/><\/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>** There is a substantial risk of loss in trading futures and options. Past performance is not indicative of future results. The information and data contained in this article was obtained from sources considered reliable. Their accuracy or completeness is not guaranteed. Information provided in this article is not to be deemed as an offer or solicitation with respect to the sale or purchase of any securities or commodities. Any decision to purchase or sell as a result of the opinions expressed in this article will be the full responsibility of the person authorizing such transaction.<\/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 (April 15th through April 19th) \u00a0It has been a few years since the Precious Metals have seen a Friday selloff followed [&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":[4300,23,2567,4499,7948,5003,4299,307],"class_list":["post-19681","post","type-post","status-publish","format-standard","hentry","category-general","tag-brian-booth","tag-gold","tag-gold-analysis","tag-gold-chart-of-the-week","tag-guest-bloggers","tag-june-gold","tag-longleaftrading-com","tag-precious-metals"],"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\/04\/gold-chart-of-the-week-34\/\" \/>\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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