So, in the gold market, let's take a look at what we have. We have a market that's retreated from its high, came down, didn't make it to the 18-week moving average, and it's trying to come back up here. When we look at the overall action in the gold, we see we got up to the $3500 level a bunch of times. You got through here, in fact, closer to $3600, if you look at it. Fell back in, didn't quite get down to the $3300 level, and you're sort of trading in the center of this correction phase.
When you look at the chart action on the swing line, what you see is you've got a higher high and lower low pattern. In other words, the market's through with the break, but we don't know that this is a bounce or the beginning of another rally. Hard to tell right here.
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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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