{"id":18353,"date":"2021-04-19T07:30:51","date_gmt":"2021-04-19T11:30:51","guid":{"rendered":""},"modified":"2021-04-19T07:30:51","modified_gmt":"2021-04-19T11:30:51","slug":"this-rally-is-just-getting-started","status":"publish","type":"post","link":"https:\/\/jeffclarktrader.com\/market-minute\/this-rally-is-just-getting-started\/","title":{"rendered":"This Rally Is Just Getting Started"},"content":{"rendered":"

Gold just had a big week.<\/p>\n

True… The metal only gained $35 an ounce. It just made it back up to where it was two months ago. And, it’s still down about 7% for the year so far.<\/p>\n

But, for the first time in several months, gold outpaced the gains in the S&P 500. And, it beat out the gains in bitcoin as well.<\/p>\n

That’s important because, for the past several months, gold has underperformed the stock market and the cryptocurrency market. Last week’s outperformance likely signals that gold is finally ready to play “catch up.”<\/p>\n

Take a look at this chart…<\/p>\n

\"\"<\/p>\n

Last week’s rally pushed gold above all of its various moving average lines. Those moving averages used to be resistance<\/a> on any rally attempts. Now, they’ll serve as support<\/a> on any declines.<\/p>\n

More importantly, the red shorter-term 9-day, and green 20-day, exponential moving averages<\/a> (EMA) appear ready to cross above the blue longer-term 50-day moving average<\/a> (MA).<\/p>\n

This sort of “bullish<\/a> cross” often marks the start of an intermediate-term rally phase. Gold just needs to hold above its 50-day MA – at about $1750 – for a few days to do the trick.<\/p>\n\n\n\n
\n

Free Trading Resources<\/strong><\/p>\n

Have you checked out Jeff’s free trading resources on his website? It contains a selection of special reports, training videos, and a full trading glossary to help kickstart your trading career \u2013 at zero cost to you. Just click here<\/a> to check it out.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

A couple of the technical indicators at the bottom of the chart are in overbought territory.<\/p>\n

The RSI<\/a> and the CCI<\/a> momentum indicators are at levels that’ve often preceded a quick decline in the price of gold. So, it wouldn’t surprise me at all to see gold dip a bit early this week – if only to relieve those overbought conditions.<\/p>\n

But, any decline in gold is likely to find support near the cluster of moving averages at about $1750. Traders should use any drop towards that level as a chance to get aggressive on the long side.<\/p>\n

Gold has started its “catch-up” rally. The price is likely to be much higher in the weeks and months ahead.<\/p>\n

Best regards and good trading,<\/p>\n

<\/p>\n

Jeff Clark<\/p>\n

P.S.<\/strong> It’s not just gold getting ready for a move higher. All through the pandemic, thousands of stocks have been soaring, creating a \u201cnew army of investors.\u201d<\/p>\n

And, since stocks are flying higher than ever, I have to tell my readers about my unique FLIP trading system<\/a> that I believe can guide them into gains that could soar more than 200%… Just by using the technique that I\u2019ve developed.<\/p>\n

I’ll be hosting a special presentation where I\u2019ll share my FLIP trading method, and even give away three picks, just to get you started \u2013 completely free. So, click here to join me on Wednesday, April 28 at 8 p.m. ET<\/a> to get in on this opportunity you don\u2019t want to miss.<\/p>\n

Reader Mailbag<\/strong><\/h2>\n

Have you been buying gold lately? Do you think it’s ready for a move higher?<\/p>\n

Let us know your thoughts – and any questions you have – at feedback@jeffclarktrader.com.<\/p>\n","protected":false},"excerpt":{"rendered":"

It\u2019s ready to climb higher…<\/p>\n","protected":false},"author":25,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"ep_exclude_from_search":false,"service":"","footnotes":""},"categories":[1],"tags":[],"publication":[10],"person":[7],"newsletter-type":[],"ticker":[],"class_list":["post-18353","post","type-post","status-publish","format-standard","hentry","category-market-minute","publication-market-minute","person-jeff-clark"],"acf":[],"_links":{"self":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/posts\/18353","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/users\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/comments?post=18353"}],"version-history":[{"count":0,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/posts\/18353\/revisions"}],"wp:attachment":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/media?parent=18353"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/categories?post=18353"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/tags?post=18353"},{"taxonomy":"publication","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/publication?post=18353"},{"taxonomy":"person","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/person?post=18353"},{"taxonomy":"newsletter-type","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/newsletter-type?post=18353"},{"taxonomy":"ticker","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/ticker?post=18353"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}