Gold Bulls Take New Momentum into the Holiday Weekend

The gold market put in what can only be described as a solid gold performance. Should gold close where it is presently trading around the $1,873 level, it will be a all time high weekly close in this market. Our analysis of the gold market building support getting ready to move higher was correct, and all of our Trade Triangles are in a positive mode.

With a +100 Chart Analysis Score it would appear that this market remains in a strong upward trend. Short term, intermediate and long term traders should maintain long positions with the appropriate money management stops in place.


Monthly Trade Triangles for Long Term Trends = Positive
Weekly Trade Triangles for Intermediate Term Trends = Positive
Daily Trade Triangles for Short Term Trends = Positive
Combined Strength of Trend Score = + 90