Self Directed Investor Inc
SDI: "Empowering investors with ideas and education"
Symbol Lookup »  
Topics:ChinaETFsEarningsEconomyEnergyForexGoldIncomeLessonsIdeasTrading

  • Other news: News from PR Newswire
| More

Short Term Key Levels to Watch in Gold March 12

Mon, Mar 12, 11:12 AM ET, by Corey Rosenbloom

Similar to what we saw in silver last week, Gold rallied up off a critical support level as seen on the Daily Chart.

Let’s take a moment to update the current Gold Structure and levels to watch as price compresses between a critical support level and an upper resistance pivot.

Gold’s daily chart shows a form of “EMA Compression,” where price is currently sandwiched between a rising 200d SMA (very important reference level for longer term traders) and falling overhead 20 and 50 day EMAs.

The main idea is that price must break one of these boundaries – and the break should carry on towards the next logical price target as indicated.

Thus, a clean break above $1,725 suggests a continued rally back to $1,775 or $1,800… while a similar breakdown under $1,675’s critical support suggests a further downward revisit of $1,575 or lower.

Keep in mind that structurally, gold is in a short-term SIDEWAYS trend between $1,575 and $1,800 from September 2011 to present.

Let’s add a Fibonacci Grid and see the larger Daily Chart levels in Gold beyond the basics:

We see a larger perspective of a Sideways or Rectangle Consolidation in Gold prices in the context of a larger (weekly and monthly chart) primary uptrend.

When we add a classic Fibonacci Retracement grid, we see how the 38.2% Fibonacci Retracement intersects with the 200d SMA just as the upper 61.8% retracement overlaps the 20d EMA at the $1,725 area.

In simplest terms, short-term traders should watch these key price levels this week for any signs of a breakout (or breakdown) which could lead to a continuation move on to logical price targets as shown.

Corey Rosenbloom, CMT
Afraid to Trade.com

Follow Corey on Twitter: http://twitter.com/afraidtotrade

Corey's new book The Complete Trading Course (Wiley Finance) is now available!

blog.afraidtotrade.com


SDI Glossary: "price" Definition
SDI Glossary: "Finance" Definition
SDI Glossary: "Retracement" Definition
This Article's Word Cloud:   Chart   Corey   Daily   Fibonacci   Gold   Grid   Rectangle   Retracement   Similar   Twitter   adsbygoogle   afraidtotrade   area   basics   between   boundaries   break   breakdown   carry   chart   continued   critical   form   important   larger   level   levels   logical   longer   moment   pivot   price   prices   rallied   rally   short   should   shown   suggests   support   target   term   that   these   traders   upper   watch   week   what   which

| More

Planning a Possible Pullback Emini Update May 26
Fri, May 26, 1:11 PM ET, by Corey Rosenbloom

I’d be a total fool for planning a pullback in this non-stop short-squeezed bull market, ...

Crude Oil Intraday Arc and Collapse May 25
Thu, May 25, 12:21 PM ET, by Corey Rosenbloom

If you wanted some instant volatility in Crude Oil, you got your wish this morning! ...

Charting Market Internals as we Break on Through to the Other Side May 25
Thu, May 25, 12:11 PM ET, by Corey Rosenbloom

It’s a non-stop bull market that’s going to go higher toward infinity! Not really, but ...

An Uptrending Gap to New Highs for Robotics and Automation Fund ROBO
Tue, May 23, 2:31 PM ET, by Corey Rosenbloom

Here’s a fun ETF you may not have heard discussed before – it’s ROBO, the ...

Another Swift Surge to the Highs May 23 Update
Tue, May 23, 2:21 PM ET, by Corey Rosenbloom

Back to the highs we go again as this endless bull market simply continues after ...

Up Up Up and UP Forever Emini Update May 22
Mon, May 22, 1:11 PM ET, by Corey Rosenbloom

Back to the highs we go as this endless bull market simply continues after last ...

Fascinating Fibonacci as Emini Plays within Grid May 19
Fri, May 19, 1:11 PM ET, by Corey Rosenbloom

Even in a period of high volatility, our Fibonacci Retracement Grid serves as an important ...

Facebook FB Plays Between the Daily EMAs
Thu, May 18, 2:11 PM ET, by Corey Rosenbloom

Facebook fell from the highs recently but pulled back to a key support area to ...

Volatility is Back with a Bounce this Morning May 18
Thu, May 18, 1:51 PM ET, by Corey Rosenbloom

Today we’re seeing a logical bounce off a key Fibonacci Target in the @ES – ...

Major Movement in Bonds Stocks Dollar and Gold Today
Wed, May 17, 1:31 PM ET, by Corey Rosenbloom

We’re seeing BIG movement today toward RISK-OFF Money Flow in our quad-market grid this morning. ...

Volatility Finally Returns with Plunge from the Highs May 17
Wed, May 17, 1:21 PM ET, by Corey Rosenbloom

What a difference a day makes. Price plunged from the highs on negative divergences and ...

NVIDIA NVDA Completing Second Surge on New Breakout
Mon, May 15, 2:21 PM ET, by Corey Rosenbloom

Through 2016, NVIDIA (NVDA) continuously appeared on our “Strong Stocks Getting Stronger” Member Scan. However, ...

Back to the High we Go Again May 15 Update
Mon, May 15, 12:11 PM ET, by Corey Rosenbloom

Nothing can stop this creeping bull market – at least, not yet. Here’s today’s updated ...

A New Trading Range Beneath the High May 12
Fri, May 12, 2:21 PM ET, by Corey Rosenbloom

The market can’t seem to break cleanly from this new sideways trading range beneath the ...

A Quick Emini Collapse to Support May 11
Thu, May 11, 11:41 AM ET, by Corey Rosenbloom

Well that was fast! Price collapsed from the 2,340 target to our 2,380 downside target ...

Crude Oil Finally Snaps Intraday Downtrend with Breakout
Wed, May 10, 1:21 PM ET, by Corey Rosenbloom

After a horrid intraday downtrend collapsed price from $54.00 to $45.00 per barrel, Crude Oil ...

A Free Week of Commodity Analysis For You
Wed, May 10, 1:11 PM ET, by Corey Rosenbloom

EWI opened their doors for you to try their strategy and analysis planning for 18 ...

Apple AAPL Surges with Surprise Breakout May 9
Tue, May 9, 11:41 AM ET, by Corey Rosenbloom

All seemed lost in the moments following Apple’s (AAPL) most recent earnings announcement. Bearish projections ...

A Morning Pullback from the Highs Emini May 9 Update
Tue, May 9, 11:31 AM ET, by Corey Rosenbloom

Back to the highs we go! And then – this morning – back down away ...

Hanging at the Highs Emini Update May 8
Mon, May 8, 1:11 PM ET, by Corey Rosenbloom

It was correct to assume stocks could continue higher and achieve their 2,400 target once ...

Surprise and Wonder as Stock Support Holds May 5
Fri, May 5, 3:11 PM ET, by Corey Rosenbloom

Were you surprised stocks held their support line and rallied higher? Here’s today’s updated Emini ...

The Commodity Crush Continues Lower May 4
Thu, May 4, 3:31 PM ET, by Corey Rosenbloom

Just how low can Gold and Oil go during the recent commodity crush lower? Let’s ...

Gold Crashes to Support in Perfect Rounded Arc Pattern
Wed, May 3, 12:51 PM ET, by Corey Rosenbloom

The “Rounded Arc” Reversal Pattern is one of my favorite trading opportunities when it appears. ...

Fed Day Emini Range and Level Planning May 3
Wed, May 3, 12:21 PM ET, by Corey Rosenbloom

It’s a Fed Day! What will happen later this afternoon?! Here’s today’s updated Emini (@ES) ...

Euro Zone VSTOXX ETNs Land on U.S. Beaches!
Wed, May 3, 8:11 AM ET, by Bill Luby

Think the market is too complacent about this weekend's election in France? Worried that the ...

Emini Forms a New Range at the Highs May 2
Tue, May 2, 3:11 PM ET, by Corey Rosenbloom

We have a new short-term trading range at a key support level beneath the high. ...

Fantastic Facebook FB Breakout and Surge May 1
Mon, May 1, 1:21 PM ET, by Corey Rosenbloom

Facebook (FB) shares surged powerfully to new all-time highs after two recent bullish breakouts. The ...

Surprise as the Emini Support Holds Strong May 1
Mon, May 1, 12:51 PM ET, by Corey Rosenbloom

Buyers held the line and we’re seeing another bounce up toward the highs. Here’s today’s ...

Emini Threatens to Crack Support in Retracement April 28
Fri, Apr 28, 2:11 PM ET, by Corey Rosenbloom

After a surge toward the prior high, we’re seeing a logical pullback toward a key ...

Emini Holding the Support Line for Now April 27
Thu, Apr 27, 12:21 PM ET, by Corey Rosenbloom

After a surge toward the prior high, we’re seeing a logical pullback toward a key ...

The Top Six Surging Stocks in the Dow Right Now
Wed, Apr 26, 12:31 PM ET, by Corey Rosenbloom

With the market itself breaking to new all-time highs, let’s take a look at the ...

An Emini Surge Back to the Highs April 26
Wed, Apr 26, 12:11 PM ET, by Corey Rosenbloom

No upside target is safe from this charging bull market! We’re back at all-time highs. ...

Another Beautiful Parabolic Arc for Bitcoin April 25
Tue, Apr 25, 2:41 PM ET, by Corey Rosenbloom

Perhaps the last time you thought about Bitcoin was when price crashed from $1,200 to ...

Emini Bullishly Breaking Barriers April 25 Update
Tue, Apr 25, 1:41 PM ET, by Corey Rosenbloom

No upside target is safe from this charging bull market! Here’s today’s updated Emini (@ES) ...

Good Google GOOGL Breaks to New 52 Week High
Mon, Apr 24, 12:11 PM ET, by Corey Rosenbloom

The last two times Google (GOOGL) pushed to a new high, price collapsed. Will this ...

Finally a Flag Breakout in Emini April 24
Mon, Apr 24, 11:21 AM ET, by Corey Rosenbloom

Breakout! Price surged through two Fibonacci targets to achieve the prior swing high. What will ...

Crude Oil Tumbles from Negative Divergences April 20
Thu, Apr 20, 3:31 PM ET, by Corey Rosenbloom

Crude Oil plunged toward the $50.00 per barrel level, collapsing from negative divergences into resistance. ...

NVIDIA NVDA Faces Critical Support Test Now
Tue, Apr 18, 12:21 PM ET, by Corey Rosenbloom

Once high-flying stock NVIDIA (NVDA) faces a make-or-break support test or it risks entering a ...

Amazingly We Still Trade Within Our Emini Fibonacci Grid April 18
Tue, Apr 18, 12:11 PM ET, by Corey Rosenbloom

Yesterday saw price rally up away from our 2,329 level toward our key 2,345 level ...

McDonalds MCD Steadily Creeps to New 52 Week High
Mon, Apr 17, 3:21 PM ET, by Corey Rosenbloom

When you think of exciting stocks to trade, you probably don’t think about McDonald’s (MCD). ...

Bouncing Up again from our Fibonacci Grid April 17
Mon, Apr 17, 11:11 AM ET, by Corey Rosenbloom

After a quick rounded reversal took us back to the 50% level, buyers stepped in ...

An Emini Rounded Reversal Back to our Fibonacci Target April 13
Thu, Apr 13, 2:51 PM ET, by Corey Rosenbloom

Taking the form of a Rounded Arc, price broke beneath our short-term Fibonacci Support level ...

Charting the Key Daily EMA Compression Levels in the SP500
Wed, Apr 12, 2:41 PM ET, by Corey Rosenbloom

While we study the intraday levels, let’s not lose sight of where we are on ...

With the Focus on United UAL, Delta DAL May be Ready for a Bounce
Tue, Apr 11, 4:11 PM ET, by Corey Rosenbloom

While we’re watching the stock price of United and the passenger incident, we’re perhaps not ...

A Vicious Bull Trap and Delayed Response to News for United Airlines UAL
Tue, Apr 11, 11:31 AM ET, by Corey Rosenbloom

If you were puzzled as to why United Airlines (UAL) stock didn’t collapse – or ...

Finally a Breakout from our Emini Fib Grid Range April 11
Tue, Apr 11, 11:11 AM ET, by Corey Rosenbloom

Well that’s what we’ve been waiting for!! Price broke beneath our short-term Fibonacci Support level ...

Emini Remains in Thrilling and Exciting Range April 10
Mon, Apr 10, 12:31 PM ET, by Corey Rosenbloom

Reality: It’s NOT a thrilling and exciting range, but that’s where price remains as we ...

Surprisingly Volatile Intermarket Reactions to End the Week
Fri, Apr 7, 3:21 PM ET, by Corey Rosenbloom

This morning’s lower-than-expected Jobs Report didn’t shake up the equity market, but we’re seeing big ...

Range Trading the Jobs Report April 7
Fri, Apr 7, 3:11 PM ET, by Corey Rosenbloom

After a surprisingly lower monthly Jobs Report number, equity prices shrugged it off without a ...

A Pullback and Elegant Intraday Rounded Reversal for AMZN
Thu, Apr 6, 2:11 PM ET, by Corey Rosenbloom

Amazon (AMZN) appeared as the #2 top stock in our compression scan recently and it ...

  More articles:  1 2 3 4 5 6 7 next »

ABOUT US »   ADVERTISE »   CONTACT US »   TERMS OF USE & PRIVACY POLICY »

Short Term Key Levels to Watch in Gold March 12 | Self Directed Investor | Copyright © 2008 - 2017, All Rights Reserved

Any ideas and opinions presented in Self Directed Investor content are for informational and educational purposes only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners. In no way should any content contained herein be interpreted to represent trading or investment advice. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All site visitors agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.

SDI is associated with: ValueForum.com -- a subscription-based online social networking forum of serious individual investors. | MarketNewsVideo.com -- videos appearing on SDI are produced by Market News Video. | TickerTech.com -- stock quote content appearing on SDI is at least 20 minutes delayed and is powered by Ticker Technologies. | GoldStockStrategist.com -- Edited by Scott V. Nystrom, PhD, Gold Stock Strategist provides analysis on gold mining companies.