{"id":2181,"date":"2009-05-29T08:46:38","date_gmt":"2009-05-29T13:46:38","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=2181"},"modified":"2009-05-29T08:46:38","modified_gmt":"2009-05-29T13:46:38","slug":"gold-surges-past-previous-may-highs","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/05\/29\/gold-surges-past-previous-may-highs\/","title":{"rendered":"Gold Surges Past Previous May Highs"},"content":{"rendered":"<p><span style=\"color: #888888;\">By Fast Brokers<\/span><\/p>\n<p>Gold finally made the bull move investors were waiting for, catapulting from our trend line inflection points while leaving the psychological $950\/oz level behind.\u00a0 Though the rise of gold has been incredible over the last 24 hours, movement has come on declining volume, meaning the precious metal could top out soon.\u00a0 Regardless, previous May highs have been broken and a retest of the key $1000\/oz seems imminent.\u00a0 Gold\u2019s breakout comes with high flying crude futures, signaling inflation could be on the way.\u00a0 Since gold has exhibited a positive correlation with equities as of late.\u00a0 Therefore, gold\u2019s impressive gains could be signaling a breakout in the S&amp;P futures.\u00a0 Though we\u2019re bullish on gold fundamentally, there are obviously a few more downtrend lines to deal with and $1000\/oz, so there could be a rough road ahead.<\/p>\n<p>Fundamentally we find resistances of $975.81\/oz, $978.11\/oz, $980.56\/oz, $983.25\/oz and $987.29\/oz.\u00a0 To the downside, we see supports of $971.86\/oz, $969.29\/oz, $965.98\/oz, $963.28\/oz, and $961.45\/oz. Gold is currently trading at $974.90\/oz.<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/5_29gold.gif\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/5_29gold.gif\" alt=\"\" width=\"595\" height=\"500\" \/><\/a><\/p>\n<p><em><strong>Market Commentary<\/strong><\/em> provided by <a href=\"http:\/\/www.fastbrokers.com\/index.php?PL080\" target=\"_blank\"><span style=\"text-decoration: underline;\"><strong>Fast Brokers<\/strong><\/span><\/a>.<\/p>\n<p><strong>Disclaimer:<\/strong> FastBrokers\u2019 market commentary is provided for information purposes only and under no circumstances should be regardedneither as an investment advice nor as a solicitation or an offer to sell\/buy any financial product. FastBrokers assumes no responsibility or liability from gains or losses incurred by the information herein contained.<\/p>\n<p><strong>Risk Disclosure:<\/strong> There is a substantial risk of loss in trading futures and foreign exchange. Please carefully review all risk disclosure documents before opening an account as these financial instruments are not appropriate for all investors.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Fast Brokers &#8211; Gold finally made the bull move investors were waiting for, catapulting from our trend line inflection points&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-2181","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/2181","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=2181"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/2181\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=2181"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=2181"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=2181"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}