{"id":6808,"date":"2013-02-27T21:02:08","date_gmt":"2013-02-28T02:02:08","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=6808"},"modified":"2013-02-27T21:02:08","modified_gmt":"2013-02-28T02:02:08","slug":"gold-retreats","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2013\/02\/27\/gold-retreats\/","title":{"rendered":"Gold retreats"},"content":{"rendered":"<p>Spot gold is consolidating after retreating below $1600\/ounce on the hourly chart. Breach of short-term support at $1590 would warn of a down-swing to test medium-term support at $1550 &#8212; and primary support at $1500.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" alt=\"Spot Gold\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2013\/2013-02-28-gold-h.png?w=525&#038;ssl=1\" \/>On the monthly chart we can see that breach of $1500 would signal a primary down-trend. A 63-day Twiggs Momentum fall below -10% would also suggest a primary down-trend, while reversal above zero would suggest further ranging between $1500 and $1800.<br \/>\n<img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" alt=\"Spot Gold\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2013\/2013-02-28-gold-m.png?w=525&#038;ssl=1\" \/><\/p>\n<p>Silver is also headed for a test of primary support &#8212; at $26\/ounce &#8212; but 63-day Twiggs Momentum respect of -10% would continue the long-term bullish divergence, suggesting a new up-trend.<br \/>\n<img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" alt=\"Spot Gold\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2013\/2013-02-28-silver-m.png?w=525&#038;ssl=1\" \/><\/p>\n<p>I am not yet convinced that gold is headed for a primary down-trend. We may be in a low-inflation\/deflationary environment right now but how long will it take for central bank expansionary policies to overcome this? Watch out for bear traps. Respect of primary support around $1500 could present a buying opportunity.<\/p>\n<h3>Crude Oil<\/h3>\n<p>Jeremy Grantham (GMO) reminds us, in a <a title=\"Jeremy Grantham - Managing progress in a world of finite resources\" href=\"http:\/\/t.co\/D1O7q3U3oE\" target=\"_blank\">recent BBC interview<\/a>, not to underestimate the importance of crude oil. Crude represents roughly half of the cost (extraction, shipping, etc.) of other major commodities traded, but crude oil itself also represents half of the value of all commodities traded. When crude prices rise they do serious harm to the global economy.<\/p>\n<p>Brent Crude retreated below support at $117\/barrel, on concerns over the global economy. Expect medium-term support at $90\/barrel for Nymex and $112\/barrel for Brent crude (the green line) but only failure of primary support at $84 and $106 would signal a primary down-trend. Falling crude would be a bearish sign for gold: demand for gold increases when crude rises.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" alt=\"US Dollar Index\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2013\/2013-02-28-crude.png?w=525&#038;ssl=1\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Spot gold is consolidating after retreating below $1600\/ounce on the hourly chart. Breach of short-term support at $1590 would warn of a down-swing to test medium-term support at $1550 &#8212; and primary support at $1500. On the monthly chart we can see that breach of $1500 would signal a primary down-trend. A 63-day Twiggs Momentum &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2013\/02\/27\/gold-retreats\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Gold retreats&#8221;<\/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":[8],"tags":[1779,2529,3204,3206],"class_list":["post-6808","post","type-post","status-publish","format-standard","hentry","category-gold-commodities","tag-ice-brent-crude","tag-nymex-wti-light-crude","tag-spot-gold","tag-spot-silver"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Gold retreats - 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 retreats - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Spot gold is consolidating after retreating below $1600\/ounce on the hourly chart. Breach of short-term support at $1590 would warn of a down-swing to test medium-term support at $1550 &#8212; and primary support at $1500. On the monthly chart we can see that breach of $1500 would signal a primary down-trend. A 63-day Twiggs Momentum &hellip; Continue reading &quot;Gold retreats&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2013\/02\/27\/gold-retreats\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:author\" content=\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\" \/>\n<meta property=\"article:published_time\" content=\"2013-02-28T02:02:08+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/static.incrediblecharts.com\/images\/2013\/2013-02-28-gold-h.png\" \/>\n<meta name=\"author\" content=\"Colin Twiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Colin Twiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/02\\\/27\\\/gold-retreats\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/02\\\/27\\\/gold-retreats\\\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"Gold retreats\",\"datePublished\":\"2013-02-28T02:02:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/02\\\/27\\\/gold-retreats\\\/\"},\"wordCount\":273,\"commentCount\":4,\"publisher\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/02\\\/27\\\/gold-retreats\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2013\\\/2013-02-28-gold-h.png\",\"keywords\":[\"ICE Brent Crude\",\"Nymex WTI Light Crude\",\"Spot Gold\",\"Spot Silver\"],\"articleSection\":[\"Gold &amp; Commodities\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/02\\\/27\\\/gold-retreats\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/02\\\/27\\\/gold-retreats\\\/\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/02\\\/27\\\/gold-retreats\\\/\",\"name\":\"Gold retreats - the patient investor\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/02\\\/27\\\/gold-retreats\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/02\\\/27\\\/gold-retreats\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2013\\\/2013-02-28-gold-h.png\",\"datePublished\":\"2013-02-28T02:02:08+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/02\\\/27\\\/gold-retreats\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/02\\\/27\\\/gold-retreats\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/02\\\/27\\\/gold-retreats\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2013\\\/2013-02-28-gold-h.png\",\"contentUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2013\\\/2013-02-28-gold-h.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/02\\\/27\\\/gold-retreats\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/thepatientinvestor.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Gold retreats\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\\\/2009 and 2020 bear markets well ahead of actual events. 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\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Gold retreats - the patient investor","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"Gold retreats - the patient investor","og_description":"Spot gold is consolidating after retreating below $1600\/ounce on the hourly chart. Breach of short-term support at $1590 would warn of a down-swing to test medium-term support at $1550 &#8212; and primary support at $1500. 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He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events. 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-1LO","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":5963,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/10\/31\/gold-and-dollar-test-support-2\/","url_meta":{"origin":6808,"position":0},"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 &quot;Gold &amp; Commodities&quot;","block_context":{"text":"Gold &amp; Commodities","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4381,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/05\/17\/dollar-rallies-while-gold-silver-fall\/","url_meta":{"origin":6808,"position":1},"title":"Dollar rallies while Gold &#038; Silver fall","author":"Colin Twiggs","date":"May 17, 2012","format":false,"excerpt":"The Dollar Index is testing primary resistance at 81.50 on the weekly chart. Respect of zero by the latest 63-day Twiggs Momentum trough suggests continuation of the primary up-trend. Follow-through above 82 would signal an advance to 86*. * Target calculation: 82 + ( 82 - 78 ) = 86\u2026","rel":"","context":"In &quot;Gold &amp; Commodities&quot;","block_context":{"text":"Gold &amp; Commodities","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4106,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/04\/18\/which-way-gold-2\/","url_meta":{"origin":6808,"position":2},"title":"Gold, Silver and the Dollar","author":"Colin Twiggs","date":"April 18, 2012","format":false,"excerpt":"The Dollar Index met strong resistance at 80.00 and is likely to re-test support at 78.00. Upward breakout would signal continuation of the primary up-trend, while failure of support would warn of reversal to a down-trend. In the longer term, breakout above 82.00 would offer a target of 86.00*. Respect\u2026","rel":"","context":"In &quot;Gold &amp; Commodities&quot;","block_context":{"text":"Gold &amp; Commodities","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3984,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/03\/29\/gold-and-the-dollar-both-weaken\/","url_meta":{"origin":6808,"position":3},"title":"Gold and the Dollar both weaken","author":"Colin Twiggs","date":"March 29, 2012","format":false,"excerpt":"The Dollar Index is retracing to test primary support at 78.00 on the weekly chart. Respect of the rising trendline would signal continuation of the primary up-trend, while failure of support would warn of a down-trend to test support at 73.00. Reversal of 63-day Twiggs Momentum below zero would strengthen\u2026","rel":"","context":"In &quot;Gold &amp; Commodities&quot;","block_context":{"text":"Gold &amp; Commodities","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5527,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/09\/19\/dollar-down-gold-up-but-crude-falls\/","url_meta":{"origin":6808,"position":4},"title":"Dollar down, gold up but crude falls","author":"Colin Twiggs","date":"September 19, 2012","format":false,"excerpt":"The Dollar Index is in a primary down-trend, as indicated by 63-day Twiggs Momentum below zero. Expect a test of support at 78.00. An ensuing rally that respects resistance at 81.00\/81.50 would reinforce the primary down-trend. * Target calculation: 81 - ( 84 - 81 ) = 78 Spot Gold\u2026","rel":"","context":"In &quot;Gold &amp; Commodities&quot;","block_context":{"text":"Gold &amp; Commodities","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4614,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/06\/14\/dollar-gold-crude-oil-and-commodities\/","url_meta":{"origin":6808,"position":5},"title":"Dollar, gold, crude oil and commodities","author":"Colin Twiggs","date":"June 14, 2012","format":false,"excerpt":"The Dollar Index is retracing to test support at 81.50. Respect would confirm the primary up-trend, offering a long-term target of the 2010 high at 89. 63-Day Twiggs Momentum oscillating above zero indicates a healthy up-trend. Spot Gold is rallying to test resistance around $1650\/ounce -- at the descending trendline\u2026","rel":"","context":"In &quot;Gold &amp; Commodities&quot;","block_context":{"text":"Gold &amp; 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\/6808","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=6808"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/6808\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=6808"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=6808"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=6808"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}