Katai Takaki? (Note: This appears to be a Japanese name) “Weekly Gold Market Outlook” April 24, 2023 issue

The chief executive officer and president of Investment Daily News Co., Ltd., and a master of cycle analysis,

this is a weekly report on the outlook for the gold market written by Takashi Kabuki.

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Last week's New York gold futures (near term) closed at 1,990.5 dollars, down 25.3 dollars from the previous week. The high was 2,028.0, and the low was 1,980.9. The themes I was watching last week were as follows: “From the double top in August 2020 and March 2022, will the upper resistance line prevent a triple top, or will it break out to reach a new all-time high and continue rising? It has entered a time period worth watching.” The former concern has strengthened.

Furthermore, at the close, it fell below the 2,000-dollar threshold, and the Stochastics showed bearish oscillator divergence. It has become a chart pattern that warrants considerable caution.

Regarding Stochastics, last week I noted that “%K is at 83.84 and the slow %D is at 85.03 and they appear to be crossing. It would be prudent to be somewhat cautious.” It appears they have started to cross. If it rises further this week, the cross may unwind.

On a daily basis, as stated last week.

Please see the PDF file for the continuation.

【Takashi Kabuki — Profile】

Graduated from Kwansei Gakuin University, Faculty of Economics. In 1995, formed a partnership with the globally renowned American market analyst, Raymond E. Meriman, and issued the domestic first market cycle and astrology report. He is well regarded for market analysis using cycles and astrology. Chief Executive Officer of Investment Daily News Co., Ltd., Chief Executive Officer of Investment Daily Publication Co., Ltd., Director of Wakabayashi FX Associates, Member of the Japan Technical Analysts Association, Editor-in-Chief of Investment Daily Alpha.

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