Your Weekend Gold Homework

After Friday closed out the week in gold, closing down more than 25% of the range from the open, and with Monday being the largest range day in the previous week, we get the following two charts:

20160514 Gold Price Movement after a down week with a large range Monday

20160514 Gold the Week After a Large Range Monday

One is considering the effect of the down week, the other is just considering all weeks that followed a large range Monday. Both match closely. Something to note though, see that little rally towards the end of the day on Wednesday? When we look at just the weeks where Wednesday is the largest range of the week we get this:

20160514 When Wednesday is the Largest Range Day in Gold

A noticeable difference in that the rally as it continues into Thursday and possibly into the end of the week.  In all three charts though, price breaking out from the lows of Monday / Tuesday tend to continue down into the later part of Wednesday. Stay sharp, and hopefully golden in the week ahead!

As always, for Full Access to these charts and many more, become a member.

Be the first to leave a comment. Don’t be shy.

You must be logged in to post a comment.