6 Remarkable Gold Charts This Week

Posted by Taki Tsaklanos: GoldSilverWorlds

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gold price weekly 7 February 2014

In the course of the past week, several exceptionally interesting charts were released on GoldSilverWorlds and other websites. In this article, we collect the most interesting charts expressing gold’s fundamental and technical picture.

Weekly chart in a downtrend but at major resistance

The lack of downside follow-through, after the highest volume bar 7 trading ranges ago, has been an anchor for the current rally, of sorts. The caveat as to which way price will move from here is the trend, which favors lower price behavior until there is an indication of change. Right now, such an indication is absent. Of minor concern is the location of the closes for the 3 bars at the end, tending toward the lower range of each bar. The offset is the fact that despite apparent weakness, price did not move lower. If gold trades higher next week, the daily trend will turn up, and confirmation will come from a lower swing high on the next correction (source).

….go HERE to view larger images & all 6 Charts & Commentary 

gold price weekly 7 February 2014

 

….view the other 5 topics & charts HERE