Shayne Heffernan: Gold Report

Shayne Heffernan: Gold Report

Shayne Heffernan: Gold Report

gold may 2

Gold closed up 1.100 at 1,274.560. Volume was 8,900% above average (trending) and Bollinger Bands were 14% narrower than normal.

Open High Low Close Volume___
1,273.6601,280.7001,269.1001,274.560 9,595

Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 1,273.62 1,249.29 1,158.23
Volatility: 16 20 19
Volume: 960 192 48

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

gold may 3

Summary

Gold is currently 10.0% above its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect very strong flows of volume out of Gold (bearish). Our trend forecasting oscillators are currently bullish on Gold and have had this outlook for the last 14 periods.

HEFFX Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 24 white candles and 25 black candles for a net of 1 black candles.

Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.

Aroon

There were no Aroon signals generated today. The last signal was a Buy 25 period(s) ago.

Directional Indicator

There were no Directional Indicator signals generated today. The last signal was a Buy 30 period(s) Ago.

MACD

There were no MACD signals generated today. The last signal was a Buy 13 period(s) Ago.

Stop and Reverse (SAR)

There were no SAR signals generated today. The last signal was a Buy 13 period(s) Ago.

Summary

The current market condition for Gold is:

Very Bullish

The close is currently Above it’s 200 period moving average.
The close is currently Above it’s 90 period moving average.
The close is currently Above it’s 30 period moving average.

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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