Gold Sitting at Ledge of 2-Year Support Cliff

February 23rd, 2013
in gold, syndication

by EconMatters, EconMatters.com

A Rough Start for 2013

Well Gold hasn't had a particularly good start to the year, in fact, a good pairs trade would be going long the S&P 500 and short the Gold market for a nice 12% return in two months. But many Gold Investors are not yet ready to throw in the towel for 2013, and some even have targets in the 2000 an ounce area, and think this pullback, although significant, represents an excellent buying opportunity.

Follow up:

A Buying Opportunity?

Well, all those waiting for a pullback to get long on this Gold trade now have their opportunity. The real question is whether this is a good place to buy, or the proverbial “Catching a Falling Knife”? I put some charts together, and I will let you decide that one for yourself. Just watch for key technical levels that break, and protect yourselves with stops, and you will survive with little more than some flesh wounds if you are wrong.

Charts Galore

Click to enlarge

Click to enlarge

Click to enlarge

Click to enlarge

Click to enlarge

Click to enlarge

Click to enlarge

Click to enlarge

Click to enlarge

 









Make a Comment

Econintersect wants your comments, data and opinion on the articles posted.  As the internet is a "war zone" of trolls, hackers and spammers - Econintersect must balance its defences against ease of commenting.  We have joined with Livefyre to manage our comment streams.

To comment, just click the "Sign In" button at the top-left corner of the comment box below. You can create a commenting account using your favorite social network such as Twitter, Facebook, Google+, LinkedIn or Open ID - or open a Livefyre account using your email address.















 navigate econintersect.com

Blogs

Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day
Weather

Newspapers

Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government
     

RSS Feeds / Social Media

Combined Econintersect Feed
Google+
Facebook
Twitter
Digg

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution

Contact

About

  Top Economics Site

Investing.com Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2017 Econintersect LLC - all rights reserved