So when we look at the gold market, on a weekly basis, this market's still bullish on the weekly chart. Nothing here to damage it at all. Support's $2965, which is a long way off. That's $300 away. That's a long way off in this market. When we take a look at the chart here, you can almost draw a downtrend line, and then a sideways line here - it's got a wedge. Is it going to break out to the upside over or under it? We'll see what it does in the pattern, but that's what you have there.
The pattern on the swing line is bearish, you have a pattern of lower highs, lower lows.
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LINN & Associates
Over the past 35-years Ira Epstein has developed a reputation for providing clients with easy to use technology and teaching good old fashioned trading know-how. A number of our brokers have over 30-years trading experience. No matter how technology changes the methods of entering orders, there's no replacement for having "been there and done that before". It's the blend of services that brings things together.
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Ira began in the futures markets in 1969. Over the years he worked his way up, starting from the ground up as a "floor runner" culminating with his becoming a Floor Trader. In the mid 1970s Ira decided to make a career shift within the industry to develop both retail and commercial based clientele. His customer base grew to the point whereby in 1984 he founded "Ira Epstein & Company", a trading firm specializing in retail, commercial and self-directed discount futures trading. Along the way Ira became a leader in trading technology out of necessity, due to increased small lot trade volume. He was among the first to embrace the Internet, which as you know has dramatically changed both the way information is delivered and how trading takes place today.
One of the ways Ira, along with his brokers showcase their talents is through e-mails of market information and Ira's "Futures Videos", which can be viewed on our website, through Market Center, Linn-IraChart Software and on YouTube.