{"id":61879,"date":"2013-05-23T10:02:49","date_gmt":"2013-05-23T00:02:49","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2013\/05\/23\/is-a-gold-low-in-place\/"},"modified":"2013-05-23T10:02:49","modified_gmt":"2013-05-23T00:02:49","slug":"is-a-gold-low-in-place","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2013\/05\/23\/is-a-gold-low-in-place\/","title":{"rendered":"Is A Gold Low In Place?"},"content":{"rendered":"
\n\tBy Jonathan Barratt<\/span><\/div>\n
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\n\tWe have been talking about gold consolidation for sometime, and the price action over the last few trading sessions has been supportive of a low. Early Monday when the gold market opened we had a large initial sell off which was indicative of another bout of selling. Similar in nature to the April 15 sell-off. However good support entered the market and the subsequent bounce suggests a low of some importance has ben put in place. At the moment we see sentiment towards the metal as being really mixed. On one hand we have the paper gold traders, who are bearish the commodity, and then on the other hand we have physical traders who cannot get a enough of the metal. We expect the market will remain mixed for sometime however the longer we can hold above US1330<\/span> the more positive we get that a low is in place.<\/div>\n
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\n\t\t\tAlthough we took out some of our position we have reentered a long at US1349<\/span> and happy to hold. The stop on the position is below US1320<\/span> as a break below here puts in question any bull move for a while.<\/p>\n

\n\t\t\tChart Point – Gold:<\/u><\/strong><\/p>\n

\n\t\t\tTechnically, a double bottom is in play. We need to see a break above USD1400<\/span> to conclude that a low of some significance is in place.  Momentum indicators are on their lows. Supporting the low.<\/p>\n

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\n\tReprinted with permission of the publisher.<\/em> Content included in this article is not by association necessarily the view of FNArena<\/span> (see our disclaimer<\/a>).<\/em><\/div>\n
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\n\t\tEdited by Jonathan Barratt<\/span>, Barratt's<\/span> Bulletin is a weekly subscription newsletter that provides expert analysis of commodity markets, global indices and foreign exchange movements. Click here <\/a>to take a no obligation 21-day trial to Barratt's or to learn more visit www.barrattsbulletin.com<\/a>. Content included in this article is not by association necessarily the view of FNArena (see our disclaimer).<\/em><\/div>\n<\/div>\n

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Jonathan Barratt of Barratt’s Bulletin suggests there is enough demand for physical metal to imply the April low in gold should hold.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[59],"tags":[22],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/61879"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=61879"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/61879\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=61879"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=61879"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=61879"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}