Gold Rally: Get Ready For Fireworks?

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Commodity Trading Research
Gold Rally Get Ready For Fireworks?
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• Hi, My name is Justin and Im with Commodity
  Trading Research, today were reviewing our
  recently published article

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• Gold Rally Get Ready For Fireworks?

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• Gold bulls are getting it on
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• The yellow metal successfully broke through an
  important resistance level at 1,150 an ounce a
  few days ago.

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• As loyal readers are fully aware, I pointed out
  this promising technical setup in early October.
• Heres an updated look at the gold chart I
  provided a few weeks ago

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• As you can see, gold recently broke through
  (green circle) important resistance (red line) at
  the 1,150 an ounce area. The rally has the
  yellow metal up 7.1 over the past month.

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• Where does this market go from here?

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• Given the recentbullish technical development, a
  test of 1,200 is highly likely in coming days.
  While its nice to know gold likely has
  additional upside ahead, dont get too excited
  just yet.

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• You must fully comprehend what the 1,200 level
  means from a technical perspective

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• Believe it or not, 1,200 is the last major
  technical barrier holding gold in a multi-year
  downtrend. That price level corresponds with the
  red line in the chart above.

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• If the yellow metal can punch through that
  ominous line, theres a chance we see a
  spectacular gold market blowup to the 1,450
  area. Clearly, theres a lot at stake at 1,200
  an ounce.

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• Whats the most likely outcome?

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• In my opinion, the gold market will have so much
  bearish pressure at 1,200 that bulls will have
  no choice but to throw in the towel. In such a
  scenario, a return to the mid-1,100 area seems
  appropriate.

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• But heres the deal
• A number of fundamental factors have some
  thinking the long-term bottom is already in for
  gold. In fact, some big name investors are going
  all in on the metal.

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• What fundamental factors are backing newly minted
  gold bulls?

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• First of all, global economic worries are
  mounting as China and other emerging markets turn
  in one decidedly poor economic reading after
  another.

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• These global weaknesses recently forced the US
  Federal Reserve to delay raising interest rates.
• But thats just the start of it

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• US economic readings are getting worrisome as
  well. Case in point, yesterdays US producer
  price index (PPI) showed stunning weakness, which
  points to building deflationary pressures.

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• Finally, the worlds largest retailer, Walmart
  WM Trevealed yesterday its full year sales will
  be flat. Thats not a good sign for anyone
  bullish on US and global economic growth.

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• All these signs point to the idea that the Fed
  will have to keep a zero interest rate policy for
  longer than expected. While I have yet to go
  overtly bullish on gold, I have to admit the
  positive bullet points are building for the
  metal.

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• Remember, gold ETFs provide some of the best ways
  to profit from market swings.

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