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Why Gold is Not Going Higher Despite Egypt Crisis

Commodities / Gold and Silver 2011 Feb 02, 2011 - 02:40 AM GMT

By: Casey_Research

Commodities

Best Financial Markets Analysis ArticleDespite all the turmoil in Egypt and the Arab world, gold has stubbornly refused to rally. This probably causes great concern amongst the gold bugs and the folks who are bullish on gold.

As we have mentioned before many times on this blog, "perception is more powerful than fundamentals."


While the gold bugs argue that the market is being manipulated, I am more of a realist and respect what the market is actually doing. The big question on everyone's mind is: Why are food prices and other commodity markets soaring, while gold is dismally staying down in the $1,330 area?

MarketClub's Trade Triangles are all Red, meaning that the trend for gold is likely to remain negative or at best move in a sideways fashion.

My best estimation at this point in time is that we are going to see more sideways action and probably some recovery from current levels. However, I would like to see some concrete evidence that the market has actually put in a low and that we will see a recovery in this yellow metal in the future.

One thing I can say, historically our monthly RED Trade Triangles have not been successful in gold. You would have been more successful fading the RED monthly Trade Triangle signal and going long gold.

Before getting, "gung ho" on this approach, you will be better off waiting for a green weekly trade triangle to kick in which would indicate that the market has probably made a low.

That is the main reason why, we recommend using the weekly Trade Triangles for trend, and daily Trade Triangle's for timing.

In this short video, I explained what I mean and show you concrete examples of how you can use this strategy to make money.



As always our videos are free to watch and there is no registration requirements. Our only request is that you tell your friends, Tweet and Facebook about this blog posting. We would also enjoy hearing from you, so please feel free to comment on this blog about this video.

Enjoy the video.

Adam Hewison
President, INO.com
Co-creator, MarketClub

By INO.com

INO and Quote Providers furnish quotes and market analysis without responsibility for accuracy and is accepted by the site visitor on the condition that transmission or omissions shall not be made the basis for any claim, demand or cause for action. The information and data was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information, nor any opinion expressed, constitutes a solicitation of the purchase or sale of any futures or options..

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