UK Gold Trading Experts
  • Home
  • Trade Like a Pro
  • Gold Blog
  • Subscriber Resources
  • Legal Stuff
    • User Agreement
  • Contact Us

Gold Market Update - 14th Feb

14/2/2014

0 Comments

 
Trade Gold Online Trader
Gold surged through 1300 yesterday as the unfolding rally gained momentum, homing in on the 200 DMA like an Exocet missile.  It can only be a matter of time before we see gold break through this important trading level, currently at 1309 and falling.

The tumbling dollar and surging oil price are aiding gold's ascent, with wobbling equities helping the rally.  This is shaping up to be the best week for the gold bulls since the August rally and a close near the weekly highs will suggest further gains next week.

A "double bottom" has now been confimed on the weekly chart at 1180 - a strong technical signal, particularly when the triangle pattern has been broken so decisively to the upside.

Support can be found at 1294-1296, 1284-1286, 1280, 1270-1275, 1266-1268, 1250-1255, 1237-1240, 1220-1225, 1210, 1200, 1188-1190 and 1180.  A break of 1180 would have serious bearish implications for gold and suggest a decline   to 1000-1050 in the short term, though isa looking increasingly unlikely.

Resistance can be found at 1302-1305, 1326-1330, 1350, 1360 and 1377-1380.  The breakout above 1280 suggests an end to the intermediate term down trend, though it will take a close above 1300 to confirm a more significant rally is now developing.

Today's video for subscribers looks at the recent trading in more detail

0 Comments



Leave a Reply.

    Old Posts

    August 2021
    July 2021
    June 2021
    May 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    March 2019
    January 2019
    December 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    March 2018
    February 2018
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    July 2016
    March 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015
    January 2015
    December 2014
    November 2014
    October 2014
    September 2014
    August 2014
    July 2014
    June 2014
    May 2014
    April 2014
    March 2014
    February 2014
    January 2014
    December 2013
    November 2013
    October 2013
    September 2013
    August 2013
    July 2013
    June 2013
    May 2013
    April 2013
    March 2013
    February 2013
    January 2013
    December 2012
    November 2012
    October 2012
    September 2012
    August 2012
    July 2012
    June 2012
    May 2012
    April 2012
    March 2012
    February 2012
    January 2012
    December 2011
    November 2011
    October 2011

UK Gold Trading Experts (UKGTE) is a trading name of Drupac Limited, a company registered in England and Wales (company number 09167819) whose registered office is 1 St. Paul's Square, Birmingham, B3 1QU.