Shayne Heffernan’s Gold Report Target $2000
We are expecting an upswing long term in Metals, for Gold we are buying undervalued Miners and Physical Gold.
A recent report from the World Gold Council (WGC) said, about 30 per cent of high quality sovereign debt (more than $8 trillion) is trading with a negative yield, and an additional 40 per cent with yields below 1 per cent. So, the pool of investment options available for investors is very limited now, thus adding sheen to gold. In periods of low interest rates, gold returns are typically more than double their long-term average, adds the report.
Here are Shayne Heffernan’s Notes on Gold
Gold closed up 0.510 at 1,277.820. Volume was 8,900% above average (trending) and Bollinger Bands were 1% narrower than normal.
Open High Low Close Volume___
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 1,279.98 1,248.90 1,155.73
Volatility: 19 20 19
Volume: 34 7 2
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 is currently 10.6% 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 into XAU= (bullish). Our trend forecasting oscillators are currently bullish on XAU= and have had this outlook for the last 11 periods.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 42.3582. This is not an overbought or oversold reading. The last signal was a sell 6 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 57.14. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 59 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 34. This is not a topping or bottoming area. The last signal was a sell 6 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 1 period(s) ago.
There were no Aroon signals generated today. The last signal was a Buy 22 period(s) ago.
There were no Directional Indicator signals generated today. The last signal was a Buy 27 period(s) Ago.
There were no MACD signals generated today. The last signal was a Buy 10 period(s) Ago.
Stop and Reverse (SAR)
There were no SAR signals generated today. The last signal was a Buy 10 period(s) Ago.
The current market condition for PREC.M.XAU= is:
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.