A significant event in gold has occured

Discussion in 'Stocks & Derivatives' started by SilverSanchez, Oct 24, 2013.

  1. SilverSanchez

    SilverSanchez Active Member

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    We are breaking through the first MAJOR downtrend channels, while at the same time closing above the 50dma, breaking through some minor formations on the weekly chart, a bullish engulfing signal and a first higher low...... this is all working in the same direction. It took my teacher to show me the bullish engulfing pattern but i noticed the first major downtrend break yesterday.

    Remember stocks are not the same as gold.... to complicate the matter I see the POTENTIAL (note that word) for a big pullback in the XAO (All Ords) especially the Financial sector.

    And to those who dont know - the ASX now has a Volitility index for the futures market or a 'vix' (asx ticker: XVI)
     
  2. willrocks

    willrocks Well-Known Member Silver Stacker

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    It looks like pretty pink lines to me. With some angry dark green ones.
     
  3. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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  4. SilverSanchez

    SilverSanchez Active Member

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    Scary rollover in gold

    USD is apparently bullish against the currency basket, so that usually means gold lower, but dont know how much or if that will turn out.
     

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