Loading ...Technicals: Gold Failure at $1259 Could Result in Some Pain
via Soren K. Group for Marketslant.com
We are happy to announce the addition of a well respected technical analyst to our growing list of Soren K. Group of Contributors.
New Gold Contributor
Alongside George Gero, the 30 year veteran of the pits who has his finger on the flows in Gold, and Enda Glynn who we feel is the among the best Elliot Wave analysts out there, we are happy to have asked Michael Moor for his occasional insight into Gold. And he has agreed.
Michael is one of the few true technicians left who publish a newsletter that people covet. His work is in tradition of the late Peter Beutel, who we had the honor of working with for years. His subscription list includes a broad, deep clientele from billion dollar hedge funds, to banks, to old floor types. He is one of those guys who makes his money on his objectivity and talent.
We are subscribers, and cannot post his work here. But he has given us permission to reach out to him for a taste of his perspective. We knew him as an energy analyst from our floor days, but found out recently he covers Gold.
Basically, we will be looking at his stuff as subscribers, and when something catches our eye, we will give him a call and see if he cares to comment on it. We noted gold failed yesterday at $1259, an area key for our momentum buy indicator. So we looked at his stuff as well as Enda’s EW analysis.. Here is what we found
Moor Analytics
Here are a couple support resistance numbers for Gold today (partial list for this one post)
http://www.zerohedge.com/news/2017-07-25/technicals-gold-failure-1259-could-result-some-pain