So when you look at the gold market, I understand the bid, it's up for the week. It's only going into trade at $27, you can see how the market acted during the break. You could see the market got very close to prior lows and then, as l said late in the day, you got the reversal and with today's high being higher than that, until the recent low is taken out of $2340.20, I think that is the line in the sand now for the bulls and they're going to try to push on the market if they can.
You're still over all the key moving averages; the upper Bollinger Band has not done the greatest job of stopping the rally. I mean, let's face it. It got over it and then it went and it ran it. I call this, I termed this the "Gorilla Glue trade" and it did peek out days ago, with the reversal (lower low) and now if the market goes up, that should be the next resistance point of $2442.
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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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