How can the data be positive? The price came down last night to accomodate the rises we can expect for the rest of the week with jobs, GDP, Consumer Confidence and Housing. The US is in trouble. And yet the dollar and dow keep rising showing a disclocation between the data and investors.
CPI, PPI, Retail Sales and Employment….
Despite the fact that we are in a “crisis”, national debt has increased worldwide and the Fed is holding rates – gold is not rising. We actually finished the week only slightly up. Strange considering the mood. We are still glued to 1700 which we first hit on Mar 5 so two months have gone without any increase – and there appears to be real resistance to the price rising.
At any rate this week the price moved down and then up on Wed/Thursday giving us the opportunity to double a $2000 account each time. So look for the trading signals. They are there as I show in my training. In saying this it should be noted that we are rising from the 24 daily ma and this has shown to be a launch point for the price. So look for that to occur on the hourly chart as an entry.