Took a small position @1082, am looking for a slight drop to grab some Ag... may not get it. Looks pretty bummy to me
Curve fitted up a bullish USD chart that would support the gold chart Price rallies (green arrows), then enters consolidation (blue boxes). Current consolidation there was a big rejection of 93 level turning into a rally, when price came back to these levels 94 and 93.50 after a retrace, again we got a rejection and a slightly higher low was formed, which could mean we will eventually test and or break the 100 level.
back down to 1080, USDX will be what we need to watch and possibly AUD as well (long term). Until this bull market turns to bearish price action the gold bear market will still continue, we could retest the lower and upper end of this consolidation for a while yet
$15 will be interesting as res there, hoping for a nice clean slice through and a run up to 16.33 EDIT: Nice
Anyone keep track of the premiums between the near and further out futures contracts and chart the spread? If so do you know any good sites that can chart it?