Rick Ackerman

Rick Ackerman Articles

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...
Buyers exceeded my 2333.75 minimum upside objective by a decisive four points on Tuesday, meaning it’s time to raise our sights.  We need only slide down to a new point ‘A’ — in this case, a 2177.00 low recorded on December 5 (see inset...
Banksters and others with a stake in the euro shouldn’t get their hopes too high, since the long-term charts point unambiguously to a target just below 82 cents (see inset). There will be rallies, of course, since sellers are piling onto...
The inflation drumbeat has grown more insistent lately, stoked by Fed blather about raising rates to prevent the economy from overheating. Yeah, sure. I’m not buying any of it, particularly statistics that purport to show inflation even in...

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The volume of all the gold ever mined can occupy a cube 63 feet on each side.