GoldBands

GoldBands

Natural Gas continued its bull move up, closing above the Ichimoku Cloud. There is resistance above with the 50 day moving average and the 21 weekly moving average at 3.11 and 3.15 respectively.

GoldBands

As the Fed meeting is scheduled for this coming Wednesday, trading was very light today for the precious metal. Price hovered just above the 1200 mark after hitting a high of 1210.9. That price level coincided with the 6 day moving average as well as the 21 weekly moving average. You can see those levels on the chart as the purple cross and gold dot respectively....

GoldBands

Natural Gas continued to rise today, closing at 2.974. I admit, I closed out this trade way to early. I could have re-entered yesterday but did not want to because price ended the day at the 21 day moving average and at the top of the 3 day range. However, taking profits is never a bad thing :-). We now have 7 green heikin-ashi candles in a row. Let's see if the...

GoldBands

Gold slowly consolidated today after selling off 5 points at the start of the overnight session. Then at the end of the day, price fell through the magical 1200 level (magical only because it's a nice round number :-) ). We now await the non-farm payroll numbers tomorrow at 8:30 am EST. If the ADP numbers yesterday are an indication, this number may beat the 200k...

GoldBands

Natural Gas moved up today, completing the closing of the Gap from Sunday night. Trading right at the 21 day moving average, there are mixed technical signals of its next move. Green on the Heikin-Ashi and a rising Stochastics are bullish but trading at the top of the 4 day range and in the middle of the Ichimoku cloud are Neutral at best. Also, the weekly chart...

GoldBands Updated 

Gold closed the day at 1208.1, down 7.5 points. As I called out in last night's post, there were 4 levels of support today that could have stopped Gold's decline. However, as a continued sign that the bear move is well underway, none of those levels held. To remind you, those levels were: Gold Support Levels Lower Bollinger Band - 1214.70 21 Week Moving...

GoldBands

As the NYMEX session began this morning, the selloff in Gold continued and price hit the 50 day moving average @ 1210.80. That was my first profit target. A stronger than expected ADP jobs report this morning further increases the odds of a Fed rate increase this month. Disclaimer: The post is for educational purposes only. Trade at your own risk.

GoldBands

Natural Gas rose slightly today, gaining just .012 points. The Heikin-Ashi turned from green to red and there are now 2 decreasingly smaller Heikin Ashi doji candles. Price has now touched the 6 day moving average 2 days in a row. I am still flat but looking to enter a short position if price does close below the 6 day moving average. Disclaimer: This post is...

GoldBands

Gold closed down 9.8 points today and poked through the bottom of the Ichimoku cloud. There is a lot of support at this level though so we need to see if price will hold here or will the bear move continue. Of note is that Wednesday opens with the 6th consecutive day of red Heikin-Ashi candles. Support Levels Lower Bollinger Band - 1214.70 50 Day Moving Average...

GoldBands

Gold continues descending through the cloud. Let's see what happens at the bottom. There could be a mid morning bnounce back up.

GoldBands

Natural Gas gapped up Sunday night to open the week. After touching the 21 day moving average, natgas closed lower, just outside the cloud. I closed my position near the high of the day, taking profits. I am now flat, watching to see what happens during the week.

GoldBands

Gold sold off today, shedding 8.5 points to close at 1225.5. As Gold moves through the cloud, note that at the bottom is a confluence of the 50 Day moving average, the Weekly 21 period moving average (gold dots) and the lower Bollinger Band. January 27 was the last time that Gold met the 50 day moving average and that bounce led to the year's high. Let's see what...

GoldBands

On Friday, Natural Gas continued it's bullish move higher. If you are long (like I am) you can use the 6 or 8 day moving averages as your trailing stops.

GoldBands

On Friday, Gold closed below the 6, 8 and 21 day moving averages to descend into the Ichimolu cloud for the first time since the end of January. The support at 1222 held up but the buying was not strong enough to force price back above the 21 day moving average. The close below the 8 day moving average the day before generated a Sell signal in my strategy and I...

GoldBands

Natural Gas rose today, definitively moving above the 6 and 8 day moving averages. I am long and expecting price to move up towards that 21 day moving average. Coincidentally, notice how the 21 day MA is right now at the edge of the Ichimoku cloud.

GoldBands

Gold sold off sharply today, dropping 15.5 points and closing under all 3 moving averages on the chart, the 6 day, the 8 day and the 21 day moving averages. Gold now seems determined to head south. The first target should now be the lower red bollinger band. Chart update: now that the bull run is over, I've removed the intermediate and short term waves from the...

GoldBands

Natural Gas closed above the 6 and 8 day moving averages. Today's green Heikin-Ashi was the second in a row. This could be the start of a move back up.

GoldBands

Gold sold off in the overnight session to tag the 21 day moving average. The precious metal then reversed as the New York markets opened up and rallied to close between the 6 and 8 day moving averages. On the whole, gold rose a modest 1.5 points today. Today's doji shows that once again gold seems to be in a holding pattern and moving sideways. Although since this...