Gold Market Wire
News, analysis and commentary for gold traders and investors
Gold Market Update
Has Gold Flushed the Weak Length?
July 7, 2020 -(Gold Market Wire) - Gold is having an interesting session today as the chart indicates a bit of tree shaking to flush out the weak length. It is a necessary pre-requisite of a step higher in a bull market. The weak length is the energy food that the bull feeds on, and today we may have had just such a small 'feast' for the Oxen. The last time we were higher than today was on October 5, 2012. That is no small achievement.
![](https://cdn.prod.website-files.com/5d754afa7a6dfa49fd253976/5f04839296fd17380c545fff_ss%207%207%2020%203x.png)
Equally encouraging, the rising overhead resistance is getting challenged again, but this time with all the energy we've built up from the early move down. It's a picture that is coming together and developing well. Gold seems ready to make a move to $1800. The "drift down" scenario is losing strength. The charging bull looks ready to take command of higher heights.
![](https://cdn.prod.website-files.com/5d754afa7a6dfa49fd253976/5f04824957a7df2fac3fd3b3_Screen%20Shot%202020-07-07%20at%204.09.56%20PM.png)