In the gold market, as we talked, you seem to be coming back now for the challenge of the 18-week moving average of closes at $3327. The market is still caught in this. Remember, I pointed this out to you before this trading range. You haven't come out of it. You got a little narrower here, you tried the upside a week ago, and came right back down. Might even go to the lows again.
The market is void of a trend, in my opinion. It's caught temporarily between the 18-day average of closes and the 100-day in the green. That's where I see the market going. And I could see the support between here, the $3380, all the way down to the $3335 level, the lower Bollinger Band. Momentum's still pointing down, bias down. I think the market's still in a short-term downtrend, if I had to put any label on it.
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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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