You can see in the gold market, you're still up for the week, though, almost three. You know, almost what, point eight, five, eight-tenths of a percent? Okay 1$8 isn't bad. You have a sideways narket, I don't think you're gonna fight that. You do have the sideways market so you want to pay good attention to that no matter what you do. When you look at where the market's at, you have higher lows and higher highs.
Now that could change if you take out Tuesday's low. But if you don't, that keeps the buying mode in there and I think the pros are looking at support at the $2188 zone and still considering that this market has higher highs ahead of it.
If that dollar stops going up that dollar and higher interest rates would be the enemy of the higher prices. What's going on over the past few days is because you're not getting a lot of movement, the Bollinger Bands have collapsed around price and you're taking the volatility out of the market which makes total sense to me.
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.
One of the ways Ira, along with his brokers showcase their talents is through e-mails of market information and Ira's "Futures Videos", which can be viewed on our website, through Market Center, Linn-IraChart Software and on YouTube.