Technical Analysis of Gold

Quote from jorgez:

Does it bother anyone on this thread that gold is a political/central bank tool.
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..and it would be better if gold was ____ instead.

(That's the part you forgot.)
 
Going to pop in with a Gold trade. L @ 1104. stop and reverse at 84. Taking profit on the 15th.
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SAR moved to BE. Fireworks about to begin, looking like a great short entry here.
 
Quote from SomeYoungGuy:

..and it would be better if gold was ____ instead.

(That's the part you forgot.)
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I did not forget anything ... I chose my words very carefully.

But don't forget that you are under no obligation to respond to the question
 
i am far from being a gold bug but one thing is almost certain and that gold will not go lower without rates going higher.

going short gold is certainly a bullish call on economy which may be right but i would be careful here. just imho.
 
This is just a technical day trade not a long term postion trade based on fundamentals but the continued strengthening of the DX is supportive of my short position. I believe as long as the DX rallies that gold will be under pressure. I believe that weekly support around 1075 level will be retested, not saying when though.
 

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Quote from trackstar:

SAR moved to BE. Fireworks about to begin, looking like a great short entry here.
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Should have followed my intuition :p

Late to post so take it for what its worth. Reversed at 1104 in the overnight. Stop is now at todays HOD. 1112.50.

Target 980.
 
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