Gold correction has ended

[GlobalFinancier]

I think the rate jacking up by the BOJ is less significant than it reducing liquidity. I heard money supply has been reduced by $140 billion since they ended their "quantitative easing policy"
Well, we saw one big crash in gold yesterday .

 

[daddyeaux]

yep, you're right, which is opposite than what the Fed. is doing by raising rates and doing weekly coupon passes.....

 

[SethArb]

bargin buying , short covering ?

nice pop overnight from oversold

in Asia in $540-$550 zone

 

[GlobalFinancier]

Quote from SethArb:

bargin buying , short covering ?

nice pop overnight from oversold

in Asia in $540-$550 zone

You're right, potential bottom 570/71

 

[romik]

IMO we are not done with the selling just yet, charts still look very bearish, why do you think 570 to be the bottom?

 

[Ivanovich]

I agree - this isn't done yet.

 

[GlobalFinancier]

Quote from romik:

IMO we are not done with the selling just yet, charts still look very bearish, why do you think 570 to be the bottom?

Some stupid intraday hourly flag .
560, continuation of downtrend.

 

[GlobalFinancier]

Long a bit here with real $, spot gold is at $560.25.

 

[GlobalFinancier]

Quote from GlobalFinancier:

Long a bit here with real $, spot gold is at $560.25.

Pyramid 571.

 

[GlobalFinancier]

Quote from GlobalFinancier:

Pyramid 571.

573 breakout. Keep buying folks, we're headed for $750!
(set tight stops)