Putin... and PAL breaking to the upside (786 on PAL should be interesting)... Oh and dollar weakness... oh and seasonals
About US$1331 close last night? A chart, any chart, in this instance an update of the Gold chart by Trader Dan. A follow on from the one thatguy posted a page back in this thread - see thumb. Trader Dan reckons, "This level had better hold or gold is going to fall back closer to $1300" - Still above the $1271 'pivot point' that was all the rage technically a couple of months back, and roughly shown in blue on prior aforementioned chart (thumb) - Still above 50 day moving average and 200 dma (not shown) However, feeling bearish short term myself, $1300 looks very possible - so maybe opportunities ahead in gold stocks? Wednesday, March 19, 2014 Source: http://traderdannorcini.blogspot.com.au/ [imgz=http://forums.silverstackers.com/uploads/1893_trader_dan_gold.png][/imgz]
Bears are back in control according to trader dan. Back to 50% retracement so far of the rally off 1181. Looked at it that way, not so bad? So far anyway. Gold stock opportunities today? Source: http://traderdannorcini.blogspot.com.au/
Trader Dan can't find evidence of appetite for more physical gold http://traderdannorcini.blogspot.com.au/ - more at link
No need to put up a chart as everyone knows its 1180 that everybody is looking at.... Friday 3rd of Oct is a sell if it gets to 1240ish. Lets hope for a nice waterfall to frollick in below 1180
Gold holding but PGM's smoked just like 2008 (Pt went from $2000+ to $750) industrial metals crashing when stock market at all time high ??? Pt stockpiles exhausted after 8 month SA strike ???? This is adding up to a massive crash that has already begun !
My interpretation of the gold chart below (weekly, USD). Gold currently sitting on a significant support line at $1190. The last two occasions the price hit this area in June 2013 and Dec 2013, the price rebounded back to $1250 in a matter of a few weeks (and then onto $1420). Should $1190 fail, then I'd expect at least $1065 to be hit. ~ Scott