GoldBands

GoldBands

Gold closed down on Tuesday, just below the 21 day moving average. You can see that the body of Tuesday's candle covers the wick of yesterday's candle. That means that the sell-off today was not met by strong buying. We've also had 2 strong Heikin-Ashi candles in a row (see chart below). All indicators are pointing to a continued sell off and I am maintaining my...

GoldBands

Gold is trading lower today and back at the key support level of the 21 day moving average. haDelta is very bearish. Let's see were Gold ends the day. If Gold does break the 21 day ma, then the next target is the lower Bollinger Band which is now at 1235.

GoldBands

Natural Gas started the week with a sharp drop to a low of 3.031, hitting the lower Bollinger Band @ 3.03, which was my first profit target. This completed the coast to coast trade that begin with a short entry at 3.27 on April 5. After a week and a half of sideway motion and dojis, today's price drop was a welcome event. With both the haDelta and the Heikin-Ashi...

GoldBands

Gold gapped lower on Sunday night and dropped to the 21 day moving average @ 1266. Even though price rebounded off that support area, the precious metal still closed well under the 7 day moving average and now seems like it wants to re-test Monday's low. We also had the first strong red Heikin-Ashi candle since the downturn from the upper Bollinger Band (see chart...

GoldBands Updated 

Natural Gas moved sideways again today, making that 4 dojis in the last 5 trading days. Trapped within the confines of the 7 and 21 day moving averages, today did close below the pair which is a positive sign for our short side position. I am still looking for a final push down to the 3.05 lower Bollinger Band. The Heikin-Ashi chart confirms price is confined to...

GoldBands

Gold closed up a point and a half today on an extremely low volatility day and ended the day trapped within the net of the 7 day moving average and the upper band of the Keltner Channel. I expect another quiet day tomorrow as the world is waiting for the results of the French election this weekend. If the populist candidate wins and the French decide they want out...

GoldBands

Gold sold off sharply on Wednesday, closing the day down 8 points. The Heikin-Ashi candle finally turned red and the level on the QStick indicator at the bottom of the chart has now turned orange. All this signifies that the pressure to the downside continues. Whether or not this is anything more than a temporary selloff from the extremely overbought condition is...

GoldBands

The price of Natural Gas rose on Wednesday, hitting a high of 3.223 before selling off and closing at 3.143, smack in the middle of the 7 and 21 day moving averages. The slight rise in the closing price did cause the background of the haDelta indicator to turn blue. However, the QStick indicator below that is still showing downward movement. The Heikin Ashi chart...

GoldBands

Although Gold mostly moved sideways today, closing up 3 points on the day. As price moved up in late afternoon trading, I did enter a short position for the following reasons: 1. Price has stalled well into the overbought upper Bollinger Band territory 2. Friday's shooting star followed by Monday's doji indicate to me that the upward momentum is waning 3....

GoldBands

In a clear sign of a continued downtrend, Natural Gas moved lower on the day to close below the miid point of the Bollinger Bands. Following a Heikin Ashi doji on Monday, the solid red Heikin Ashi today left little doubt of a continued downward trajectory. You can also see the 7 day moving average turning downward as well. Baring unforeseen events, my current...

GoldBands

Natural Gas stalled for the last 2 days and finally sold off today. There just wasn't enough power left in the recent bull move to climb above the 7 day moving average. Price is now wedged between the 7 and 21 day moving averages. If price does drop below the 21 day moving average, I expect that price would continue to at least the 3.00 level, which is the lower...

GoldBands

Gold closed flat on the day after pushing up into the 2 to 3 Std Dev Bollinger Bands. The low of the day was at the .618 Fib level. The daily haDelta also turned red today (top indicator) although the weekly haDelta remains bullish (middle indicator). So while it is clear that Gold is over bought, there is no confirmation yet that the uptrend is over. I will be...

GoldBands

Gold is hitting short term resistance at the 68% resistance from last year's high to this year's low. Price is also at the upper BollingerBand. Next move, up or down, will be telling...

GoldBands

On Tuesday, Natural Gas dropped .10 points to close just above the 21 day moving average. This is a potential end to the last move up which began on Feb 22 of this year. If price can break through the 21 day moving average, I would expect price to continue selling off until a tag of the lower Bollinger Band which now sits at 2.9. The potential downturn is...

GoldBands

Gold rallied hard today, gaining almost 20 points on the day. On the way to the new monthly high for April, Gold shot past last Friday's high and didn't pause as it continued it's ascent to the outer Bollinger Band, which is set at 2 Std Dev from the midline. Monday's red Heikin-Ashi candle is now well in the rear-view mirror as well. And all along, the haDelta...

GoldBands

On Monday, Gold closed up .8 points but did not recover any of the momentum after last Friday's explosive move up and then equally explosive sell off to end the day and the week. After that action last Friday, Gold continues to trade within a tight range that started on March 22. It is obvious that the Bollinger Bands are contracting and the haDelta is poised to...

GoldBands

Gold ended Wednesday down .6 points, making a late day recovery after selling off strongly to start the day. So while gold did close above the 7 day moving average, price continues to move sideways. The haDelta indicator is also still bullish but is showing definite signs of slowing down and even possible changing course. And if, in fact, price does move down, the...

GoldBands

On Monday, Gold continued Friday's move up and rose 2.1 points to close at 1254. I have highlighted the month long range on the chart. Price also closed above the 7 day moving average and the haDelta has turned back to blue. In addition, the upper Bollinger Band has started to move higher to 1271.90 And the Heikin-Ashi chart below shows a strong potential trend...