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IFTA JOURNAL<br />

2017 EDITION<br />

Gold<br />

Analysis results for Gold futures are mentioned below.<br />

1. According to investigation for EMP 2.0 and price fluctuations rate in Table 7, as a result of the Wilcoxon test, there was significant<br />

difference on EMP 2.0 and price fluctuations rate 2 days before. However, Figure 8 shows significant difference was not found due<br />

to unstable peak of EMP 2.0, as shown on the red line in Figure 8.<br />

2. There was no significant difference, even if EMP 2.0 and price fluctuations rate were divided into White candle day and Black candle<br />

day.<br />

3. On the trend composition ratio (Table 8), although there was no significant difference for EMP 2.0 on the four cases of all price<br />

fluctuations rate, it was found that there was significant difference in the case of “UP” of 5-day moving average on EMP 2.0 White<br />

candle day and EMP 2.0 Black candle day.<br />

Table 7. Gold null hypothesis test<br />

Figure 8. Gold, EMP 2.0 2 days before<br />

*Red: EMP 2.0 Frequency ratio distribution<br />

*Blue: All price fluctuations ratio distribution<br />

Table 8. Gold, trend composition test of equal or given proportions<br />

PAGE 20<br />

IFTA.ORG

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