Loading ...And then there’s this annoying technical note: Gold’s study of “weekly moneyflow” as we next show has now dipped below the red horizontal line (at 50 on a scale of 100-to-0) in the chart’s lower panel. This is only the sixth such downside crossing since September 2014: in all five of those prior downside crossings, price then traveled further south by at least 32 points (a repeat of which would have us visit those “Whiny 1290s”). We’ll spare you the average number of points south in those prior cases, as on balance, we view gold to be in fairly firmer stead these days. Moreover, should gold stay stout such as to pull the moneyflow study back up above the red line without too much of a price rout, again we’ll be settin’ our sights on Base Camp 1377:
Staying with the weekly bars theme, below we find gold at 1324 still with some 43 points of clearance above the parabolic flip price of 1281. Yet at present, gold’s “expected weekly trading range” is 31 points, so by that measure there’s not a lot of space for downside excursion in the next week or two without flipping the trend from Long to Short. So don’t flip: get a grip!
http://www.kitco.com/commentaries/2018-03-05/Gold-Lacks-Spring-What-Doth-the-Fed-Bring.html