But as you can see in the gold market, you've nicely stayed in the weekly chart over it. Again, the reason I think we're going up is falling U.S. interest rates. Generally, historically is all I can tell you, the dollar falls after the first raid cut into the first quarter after that because you never know what time of the year it's coming. So I'd say the first 90 days or more. And then the market starts getting traction in the dollar as these cuts start having an impact.
The market has now got a pattern of higher lows and higher highs: bullish. The market is over the 18-day average and remember I said, was it pulled back? I said that's generally where the fight comes until the market decides what it wants to do. It's now taken off to the upside; bullish again. The resistance is right here, you're at the upper Bollinger Band, but you're trying to push on it. Now, you did narrow in these bands. The question is, is that enough to propel the market towards that $2600 level or more? I can see it.
About the author
LINN & Associates
Over the past 35-years Ira Epstein has developed a reputation for providing clients with easy to use technology and teaching good old fashioned trading know-how. A number of our brokers have over 30-years trading experience. No matter how technology changes the methods of entering orders, there's no replacement for having "been there and done that before". It's the blend of services that brings things together.
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Ira began in the futures markets in 1969. Over the years he worked his way up, starting from the ground up as a "floor runner" culminating with his becoming a Floor Trader. In the mid 1970s Ira decided to make a career shift within the industry to develop both retail and commercial based clientele. His customer base grew to the point whereby in 1984 he founded "Ira Epstein & Company", a trading firm specializing in retail, commercial and self-directed discount futures trading. Along the way Ira became a leader in trading technology out of necessity, due to increased small lot trade volume. He was among the first to embrace the Internet, which as you know has dramatically changed both the way information is delivered and how trading takes place today.
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