Chart Analysis: While gold is not trading near its colossal levels as it was two years ago, some investors believe all signs are pointing to a strong bullish run. Today’s NinjaTrader Chart of the Day, powered by the free end of day Kinetick data feed, showcases the Daily COMEX Gold Futures contract ($GC_F) from September of 2012 through present. It’s obvious that Gold has been on a steady bearish trend for roughly a year. However, some investors believe with all signs pointing towards economic recovery that the fear of hyperinflation may lead the Fed to print additional currency to support the economy. The Fed’s gesture of clicking print at the Mint has historically been a trigger for large bullish runs for the COMEX Gold Futures contract. The Woodies CCI momentum indicator, added as a second chart panel, does an excellent job to outline tradable patters made by the CCI. Utilizing a 14 period CCI one can spot possible trend following and counter trend patterns to catch this potential bullish push. Ensure that you are on the right side of the trade and use NinjaTrader as your software trading solution! Download NinjaTrader for free and use the free end of day data courtesy of Kinetick!
