The WeekendInvesting Newsletter - 2 January 2024

The gold market has been closely watched by investors and analysts alike, and currently, it is showing promising signs for a significant upswing. In this article, we will delve into the gold chart and explore the patterns and trends that suggest a potential surge in gold prices in the coming years.

To fully understand the current state of the gold market, let’s take a brief look into its recent history. For several years, . . . .

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The small cap index has been on an impressive run, currently standing at 14,000 levels. Just four years ago, it had dropped to 3000 levels, marking a significant turnaround in its fortunes. This remarkable growth from 3000 to 10,000 and then to 14,000 is a testament to the resilience and potential of small cap stocks.

At each stage of this rally, there were doubts whether the market could sustain the upward momentum. However, time and again, the market proved skeptics wrong by defying expectations of a downturn. The primary driving force . . .

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WeekendInvesting Daily Bytes

The market started the day on a dull note, following a similar trend from the previous day. However, as the day progressed, we witnessed a downward movement, breaking the support level at 21,680 that had been tested in the past few days. This breakage resulted in a bearish flag formation, break of which would suggest the possibility of further downsides. There is a gap that could be filled if the downward momentum continues.

On an hourly basis, there seems to be some weakness in the market. However, when considering the longer-term chart, there is no reason to worry. This short-term weakness may pave the way for lower levels, but it should not deter long-term investors.

Sectors of the Day . . . .

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