All right, when we look at the gold market as I said, it seems that we're on the way of a correction, and the market, the correction that's happening, you might be going back to wherever this 18-week average meets price. Right now, it's $1992.60 – it sounded so far away when you were up here over $2070-2060 before, you're not there anymore. Now you seem to be making your toward it.
Nothing on this chart yet is bullish. If anything it's keeping its bearishness: lower highs and lower lows. You're coming into the first support that you and I have been talking about night after night.
I said, if it's going to stay down, then the 200th-day average, which we hit once, we bounce, challenge the 18-day average for coming to it, and when you add to that the Bollinger Band, if that gives ground, you could easily get now to the $1996-1998 level, where I'd look for the major support to show itself...so around the $2000 level.
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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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