Gold Market Update for February 13th

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Here is today’s chart on gold for Feb 13th. Sorry I missed yesterday’s update was in the emergency room at the hospital for 4 hours. Now back home and back to normal. Gold was up yesterday and today and is right at the 18 ema. If we go above the 18 ema  I will start to looking for places to go long. Am watching for support at 1310.00 and resistance at 1350.00

” The gold market (NYSE:GLD) remains a very difficult sector to trade. Gold has actually formed a daily swing low which could mean we have a daily cycle low on our hands. Why? Well the momentum oscillators have reached oversold territory and short-term sentiment in gold has reached pessimistic levels (both charts shown below). However there are a few question marks as to whether the bounce out of this daily cycle low will gain any traction…” https://seekingalpha.com

This commentary and chart is provided for informational and educational purposes only and is not a recommendation to buy or sell any gold contract. Here’s the chart which is provided by Barchart.com

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