Gold sees normal price pullback in a strong uptrendJim Wyckoff/ Kitco provides up to date technical analysis as Gold gets (temporarily) battered down, causing Gold stocks to falter a bit but with all the stock indexes and their sectors all down at this moment (11.40am) - Gold will be first to float back up...
TSX Comp: 16,140.01, -154.65 (-0.95%)
S&P 500: 3,233.37, -25.07 (-0.77%)
DJIA: 26,232.03, -307.54 (-1.16%)
NASDAQ: 10,527.80, -15.14 (-0.14%)
Gold (USD): 1,934.20, -19.20 (-0.98%)
Oil (USD): 39.87, -1.40 (-3.39%)
"Technically, the gold bulls have the strong overall near-term technical advantage. Bulls’ next upside price objective is to produce a close in August futures above solid resistance at $2,000.00. Bears' next near-term downside price objective is pushing futures prices below solid technical support at $1,880.00. First resistance is seen at the overnight high of $1,965.10 and then at this week’s record high of $1,974.90. First support is seen at the overnight low of $1,936.40 and then at $1,900.00. Wyckoff's Market Rating: 9.5