The price of gold is moving higher after a day of consolidation around the $1,550 level. A buy signal at the price 1,560.9 that just was recorded implies that the positive price action will continue. The gain from the last sell signal is around $10.
The sideways trading continues in the beginning of the week for the price of gold. A sell signal developed at the price 1,571.3 and renewed selling pressure is expected.
The month is ending with a really bad trade for gold. The loss is above 10 dollars because no gains were accomplished after the sell signal earlier this morning. The price bounced back after a few hours of hesitation and recorded a new buy signal at the price 1,584.4.
The last buy signal managed to take the price of gold around 10 dollars higher but in the end a small loss was produced because the last signal cut the prospect of further upward movement and is now forecasting a downward trend instead.
The signal system is suggesting that the price of gold will march higher again, as a buy signal at 1,575.6 was just developed.
The price of gold has come into a negative trend after today’s sell signal at 1,573.6. The profit from the buy signal on the 22/01 at 1,558.4 is considerable.
No new signal has been given since Wednesday this week. As you can see in the chart it was very close to a sell signal on yesterday’s session and also on today’s session.