Gold Is Beginning 2018 With Renewed Momentum
Investors should always have 10% to 20% of their holdings in some sort of precious metals holding. Comex gold is just one of several choices from a gold-based exchange-traded fund, or specific gold mining stock, of basket of stocks.
Here’s the weekly chart for Comex gold.
Courtesy of MetaStock Xenith
Comex gold has been tracking its 200-week simple moving average or ‘reversion to the mean’ since the week of June 17, 2016 with gold futures traded at $1,312.3. The weekly chart is positive with gold above its five-week modified moving average of $1,281.7 and above its 200-week SMA of $1,232.5. The 12x3x3 weekly slow stochastic ended 2017 at 35.88 up from 23.59 on Dec. 22.
Given this chart and analysis, investors should buy weakness to my monthly and semiannual value levels of $1,298.4 and $1,258.1, respectively, and reduce holdings on strength to my quarterly and annual risky levels of $1,477.2 and