{"id":6370,"date":"2012-12-05T18:35:33","date_gmt":"2012-12-05T23:35:33","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=6370"},"modified":"2012-12-05T18:35:33","modified_gmt":"2012-12-05T23:35:33","slug":"gold-breaks-1700","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/05\/gold-breaks-1700\/","title":{"rendered":"Gold breaks $1700"},"content":{"rendered":"

Gold broke support at $1700 per ounce, indicating a test of primary support at $1675. Breakout would offer an initial target of $1600*, with a long-term target of the May 2012 low at $1525. Declining 63-day Twiggs Momentum indicates weakness but values above zero still reflect a primary up-trend and the weakening dollar suggests strong support.<\/p>\n

\"Spot<\/p>\n

* Target calculation: 1675 – ( 1750 – 1675 ) = 1600<\/span><\/p>\n

The Dollar Index broke medium-term support at 80 on the weekly chart while the dollar is approaching its September low against the euro. The 63-day Twiggs Momentum peak below zero indicates a primary down-trend — confirmed if primary support at 78.50 is broken. Recovery above 81.50 is most unlikely but would indicate an advance to 84.<\/p>\n

\"US<\/p>\n

* Target calculation: 78.5 – ( 81.5 – 78.5 ) = 75.5<\/span><\/p>\n

The daily chart shows retracement to confirm resistance at 80.<\/p>\n

\"US<\/p>\n","protected":false},"excerpt":{"rendered":"

Gold broke support at $1700 per ounce, indicating a test of primary support at $1675. Breakout would offer an initial target of $1600*, with a long-term target of the May 2012 low at $1525. Declining 63-day Twiggs Momentum indicates weakness but values above zero still reflect a primary up-trend and the weakening dollar suggests strong … <\/p>\n

Continue reading “Gold breaks $1700”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7,8,35],"tags":[1073,1292,3204],"class_list":["post-6370","post","type-post","status-publish","format-standard","hentry","category-forex","category-gold-commodities","category-us-dollar-index","tag-dollar-index","tag-euro","tag-spot-gold"],"yoast_head":"\nGold breaks $1700 - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gold breaks $1700 - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Gold broke support at $1700 per ounce, indicating a test of primary support at $1675. 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He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.","sameAs":["https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","https:\/\/www.instagram.com\/colin_thepatientinvestor","https:\/\/au.linkedin.com\/in\/colintwiggs"],"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-1EK","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":6195,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/16\/the-gold-euro-dollar-conundrum-2\/","url_meta":{"origin":6370,"position":0},"title":"The Gold-Euro-Dollar conundrum Part II","author":"Colin Twiggs","date":"November 16, 2012","format":false,"excerpt":"Last week we discussed conflicting signals from the euro and US dollar. The Dollar Index and the euro are normally plotted inversely to each other.\u00a0 I have reversed this on the chart below.\u00a0 As expected, with the euro the largest component (57.6 percent) of the dollar index weighted basket of\u2026","rel":"","context":"In "Forex"","block_context":{"text":"Forex","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4209,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/04\/26\/dollar-and-gold-test-key-support-levels\/","url_meta":{"origin":6370,"position":1},"title":"Dollar and gold test key support levels","author":"Colin Twiggs","date":"April 26, 2012","format":false,"excerpt":"The Dollar Index continues to struggle with resistance at 80. Reversal below 78 would signal the end of the primary up-trend and a re-test of the 2011 low. Reversal of 63-day Twiggs Momentum below zero would strengthen the warning, while respect would indicate another primary advance. * Target calculation: 82\u2026","rel":"","context":"In "Gold & Commodities"","block_context":{"text":"Gold & Commodities","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4259,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/05\/03\/gold-and-dollar-indicate-uncertainty\/","url_meta":{"origin":6370,"position":2},"title":"Gold and Dollar indicate uncertainty","author":"Colin Twiggs","date":"May 3, 2012","format":false,"excerpt":"Spot Gold continues its consolidation between $1600 and $1700 per ounce, while testing the long-term rising trendline.\u00a0 Recovery above $1700 would suggest another primary advance; confirmed if an inverted head and shoulders formation is completed by a rise above $1800. 63-Day Twiggs Momentum oscillating around zero indicates uncertainty, however, and\u2026","rel":"","context":"In "Gold & Commodities"","block_context":{"text":"Gold & Commodities","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6097,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/08\/the-gold-euro-dollar-conundrum\/","url_meta":{"origin":6370,"position":3},"title":"The Gold-Euro-Dollar conundrum","author":"Colin Twiggs","date":"November 8, 2012","format":false,"excerpt":"The Euro broke support at $1.28 against the greenback (weekly chart). Respect of the descending trendline warns of a down-swing to test primary support at $1.20. Reversal of\u00a0 63-day Twiggs Momentum below zero would strengthen the signal. But the Dollar Index and Gold suggest the opposite. Recovery above $1.28 would\u2026","rel":"","context":"In "Forex"","block_context":{"text":"Forex","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4056,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/04\/11\/which-way-gold\/","url_meta":{"origin":6370,"position":4},"title":"Which way gold?","author":"Colin Twiggs","date":"April 11, 2012","format":false,"excerpt":"The Dollar Index is consolidating on the weekly chart, indicating uncertainty. Respect of resistance at 80.00 would warn of another test of support at 78.00, while breakout would indicate continuation of the primary up-trend. In the longer term, breakout above 82.00 would offer a target of 86.00*, while failure of\u2026","rel":"","context":"In "Gold & Commodities"","block_context":{"text":"Gold & Commodities","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5963,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/10\/31\/gold-and-dollar-test-support-2\/","url_meta":{"origin":6370,"position":5},"title":"Gold and dollar test support","author":"Colin Twiggs","date":"October 31, 2012","format":false,"excerpt":"The Dollar Index (daily chart) broke medium-term resistance at 80 before retracing to test the new support level. Penetration of the descending trendline indicates the correction has ended. A long tail on Wednesday indicates (short-term) buying pressure; respect of support would signal an advance to 81. But the primary trend\u2026","rel":"","context":"In "Gold & Commodities"","block_context":{"text":"Gold & Commodities","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/6370","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=6370"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/6370\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=6370"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=6370"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=6370"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}