If you haven't heard the latest news about North Korea attacking and making aggressive moves towards Yeonpyeonga, a small South Korean island, you missed what moved the gold market today.
South Korea scrambled fighter jets and returned artillery fire after North Korea provoked the peninsula’s most serious confrontation in decades.
What you probably did not know was the $20 move up in gold today was signaled the day before by our "Trade Triangles." How was this possible? It has everything to do with some very cool technology developed by MarketClub.
A week ago everyone was cheering as gold and other commodity markets were making new highs. Last week however, things changed as everyone seemed to want to jump through the same door, at the same time, putting a great deal of downside pressure on many markets.
This phenomenon sometimes happens when people have multiple positions in multiple markets in the same direction. When they start to take profits, there is no one left to buy.
Following the gold market as we do here at MarketClub, it was amazing that nobody, and I mean nobody, was bearish on this market. This always creates a problem as the markets tend to reverse when everyone is on one side and there's no one else left to buy.
Another tip-off was on Fox Business News and also on CNBC indicating that gold was going to hit $1400 almost immediately. Well after Tuesday, we know what was to happen to the price of gold. If gold were so strong, should it really have gone down almost $70 in 4 days? Continue reading "The #1 Reason Why Gold Collapsed (New Video)"→
This is a short video, but it will certainly give you some interesting price targets for gold that are based on sound trading principles. I hope you enjoy the video, and as always we would love to have your feedback on our blog.
The video is free to watch and there are no registration requirements.
All the best, Adam Hewison
President of INO.com and co-founder of MarketClub