Rick Ackerman
Rick Ackerman Articles
Today’s rally was the most important in gold since it entered a bull market in December 2015. Actually, the rally has significantly raised the odds that the entire bull move since then has been impulsive rather than merely corrective of...
With a sharp lurch higher, December Gold has broken above the 1301.20 resistance I’d flagged as crucial to the intermediate-to-long-term outlook. The rally is encouraging, but we should remain cautious for two reasons.
Gold’s tedious shenanigans should not cause us to take our eyes off the little sonofabitch for too long, since we might miss something interesting. Like now, for instance. The December contract has mildly caught fire and is making another...
August Gold encouraged with an end-of-day reversal that tripped a ‘counterintuitive’ buy signal at 1249.30 (see inset). We anticipated this during this morning’s tutorial session, which you can access in recorded form if you were...
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.
