When we talk about gold, you can see how the market has been holding, and you're back up. If you were to finish here, an all-time high close on a weekly basis. You're not quite there on the chart here. You can see you got the higher high, lower low where you're coming from with that. When we come to the gold in terms of the swing line, you have the higher lows, higher highs, which is bullish.
In the gold market itself, as we take a look, what's up here? Well, you're overall the key moving averages, so it would be the Bollinger Band, and you keep running it. You're running that line, that black dashed line, as you go through. The pullbacks are opportunities, in my opinion, where the pros are buying, trying to sell against it until the pattern changes, and until you lose the embedded reading. You're not there.
That is all bullish material.
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.
Be it education, market information or trading platforms, we provide solutions.
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.