Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Is a Correction in Gold Under Way?

By

The situation remains bullish for the medium term for gold, but a correction could very well be seen before the rally continues.

PrintPRINT
Let's now move on to the Japanese yen perspective.



On the above chart we don't see a breakout analogous to the one mentioned above.

In fact, an important resistance line was almost reached, and it seems that it could be engaged one more time before any correction is seen. Simply put, sell signals are not crystal clear from this perspective just yet.

Summing up: The situation remains bullish for the medium term for gold, but a correction could very well be seen before the rally continues. Taking a look at the non-USD gold chart suggests just that. The price of gold suggests that the correction could start quite soon, but that it is probably not underway just yet.

For the full version of this essay and more, visit Sunshine Profits' website.

Twitter: @SunshineProfits
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE