Gold - Weekly Technical Outlook – June 28, 2010
FMX | Connect – www.fmxconnect.com- (Reported 6/28/10)
Chart 1: Daily August Gold (short-term analysis):
Weekly Outlook:
Weekly Outlook:
Traders will be closely monitoring $1261.70 resistance and $1231.40 support. A solid close above $1261.70 will set the stage for another move higher. A close below 1231.40 may push price to test the 50-day MA.
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Technical Statistics
| Gold August 2010 (COMEX) | | | | | |
| | | | | |
| | | | | |
| Date | Open | High | Low | Last | Change |
| 6/27/2010 | 1,255.80 | 1,258.80 | 1,254.50 | 1,258.40 | 2.2 |
| | | | | |
| Period | Moving Average | Price Change | Percent Change | Average Volume | |
| 5-Day | 1,247.10 | 17.3 | 1.39% | 96,864 | |
| 20-Day | 1,235.90 | 43 | 3.54% | 112,800 | |
| 50-Day | 1,208.20 | 119.9 | 10.54% | 63,636 | |
| 100-Day | 1,163.30 | 144 | 12.93% | 32,722 | |
| 200-Day | 1,128.90 | 256.3 | 25.59% | 16,667 | |
| Year to Date | 1,155.40 | 157.9 | 14.35% | 26,979 | |
| |
| Period | Raw Stochastic | Stochastic %K | Stochastic %D | Average True Range | |
| 9-Day | 79.40% | 67.60% | 62.10% | 18.5 | |
| 14-Day | 83.10% | 73.60% | 69.60% | 19.2 | |
| 20-Day | 87.60% | 78.70% | 74.90% | 19.5 | |
| |
| Period | Relative Strength | Percent R | Historic Volatility | MACD Oscillator | |
| 9-Day | 64.11%% | 20.58%% | 13.02%% | 7.40% | |
| 14-Day | 62.11%% | 16.90%% | 13.26%% | 13.70% | |
| 20-Day | 61.17%% | 12.43%% | 13.94%% | 17.40% | |
| 50-Day | 58.77%% | 6.05%% | 14.62%% | 45.10% | |
| 100-Day | 56.85%% | 3.93%% | 16.50%% | 90.10% | |
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Chart 2: Daily August Gold (long-term analysis):
Long-Term Outlook:
Gold recently broke out of a cup and handle formation. This formation is bullish and is known as continuation pattern. Expect to see more strong upside momentum.
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