When you and I look at the gold market, we've been here and been doing this for a weekly chart. We're just sort of sitting here. We're up about a third of a percent, up about $7 for the week. When we come and we look at the daily bar chart, you can see where you're at, on this report; your higher lows, higher highs, still very much in an uptrend.
Supports all the way back in the June contract around $2343.10. Now in my report, I don't cover June, I move out to the August. So you're going to want us to want to see the difference in the months as to where they're at. You're at a resistance point at the upper Bollinger Band, just as you had fallen to the support point down here so I can make the argument that if it wants to pull back, it can afford to do so and it is an overbought market. Then it made for a very interesting report.
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.