Rick Ackerman
Rick Ackerman Articles
August Gold is struggling to hold above a 1217.50 Hidden Pivot support and would need to pop to at least 1248.30 in the next 3-5 days to get out of jeopardy. Failing that, we might expect the futures to continue down to at least 1194.40 in...
Gold’s ups and downs have grown increasingly tiresome, largely because the rallies are so disappointing and the setbacks so punitive. But look at the bright side: If bullion can hold its own at a time when institutional investors continue...
Tuesday’s feisty rally exceeded the 1296.40 rally target we’d been using by a relatively modest $2.40, but because the pattern associated with the target is so clear, even as small an overshoot as occurred will have bullish implications...
Buyers were repelled today by the 1263.80 ‘secondary’ pivot shown, failing badly in their attempt to achieve the 1269.80 rally target that had looked so promising at Monday’s close. The chart will likely have something to say about ‘Matt’s...
An up thrust soon exceeding 1290.10 would put bulls squarely back in charge. At that point our minimum upside objective would be 1315.10, a Hidden Pivot taken from the hourly chart where A=1248.20 on April 10. Alternatively, if the futures...
Traders could bottom-fish there with a stop-loss as tight as four ticks, but I’ll recommend this only to those of you who have caught a piece of the short on the way down.
June Gold ended the week consolidating for a likely push to a minor rally target at 1303.00. An equally compelling pattern of somewhat larger degree targets 1305.70, so you should be prepared for stall at one number or the other. As always...
Gold’s performance this week has been underwhelming, to put it mildly, so today’s chart, although bullish, sets a low bar. The April contract tripped a mechanical ‘buy’ signal today, but the initial risk of nearly $500 per contract makes...
Buyers extended Wednesday’s perplexing rally — perplexing because if gold were acting normally, it would be falling on Wednesday’s headline news of a 25-basis-point rate hike by the Fed. Rising returns on risk-free paper are supposed to...
Our downside target for the near-term is 1156.60, a ‘midpoint’ Hidden Pivot that comes from the weekly chart. April Gold had a chance to rally out of the hole this week from a bouncy-looking pivot at 1195.40. Instead, the futures popped...
