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Ninja Trader Chart of the Day 5.14.13



Chart Analysis:

While gold is not an official currency, or an industrialized metal, the commodity has sent both prospectors and traders on a gold frenzy for a countless number of years.  However, with a 25% drop since its recent high of $1920 in September of 2011, is the gold rush beginning to level off?  Some investor’s state that traditionally as the U.S. dollar strengthens, the value of gold depletes due to its lack of industrial use.  Couple that theory with consumer and investor confidence on the rise, as many investors transition their funds from the precious metals markets to less volatile and high yielding investments, one could assume that a bearish trend is likely imminent.   Today’s NinjaTrader Chart of the Day, powered by the fast and unfiltered Kinetick data feed, showcases the Daily Open High Low Close (OHLC) COMEX Gold Futures ($GC_F) contract since mid-July 2011.  Utilizing the Ruler Drawing Tool, equipped with every install of NinjaTrader, one can easily measure the number of bars, time and Y-Value for any charted instrument.  Additionally, a MACD (Moving Average Convergence/Divergence), which is a trend following momentum indicator that illustrates the relationship between two moving averages of prices, was added to the chart as an additional panel.  The old adage of Sell in May and Go Away could leave Gold and many other markets in a stagnant or bearish trend for the summer months, however with the markets continuing to make history that axiom may not hold true in 2013.  Ensure that you are on the right side of the trade with NinjaTrader and Kinetick.  Trade Like a Pro and download your free install of NinjaTrader today! {jathumbnailoff}