E Gold Report For Wednesday, Feb. 1

Gold Prices closed down  -7.150 at 1,203.360. Volume was 8,900% above average (trending) and Bollinger Bands were 48% narrower than normal.

Open         High            Low          Close     Volume
1,210.460 1,213.200  1,197.730   1,203.360      19,060

Technical Outlook
Short Term:             Neutral
Intermediate Term:   Bullish
Long Term:              Bearish

Moving Averages: 10-period     50-period     200-period
Close:          1,202.92       1,173.13       1,263.95
Volatility:           13             13             17
Volume:            1,906            381             95

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

Gold is currently 4.8% below its 200-period moving average and it is in an upward trend. Our volume indicators reflect very strong flows of volume out of Gold (bearish). Our trend forecasting oscillators are currently bullish on Gold and have had this outlook for the last 23 periods.    

Momentum Indicators Support this Outlook

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.