Hey thatguy..... looks like it has closed the GAP now.... I wonder if it's going to last tonight..... SILVER: and GOLD:
Yep made some $$ on that... am damn tempted to let the orders ride. I always have liked the 14.66 area for a low so 14.40 and no lower low in gold make me hesitant to book profits :| I am thinking it was a case of sell the rumour buy the fact
Tell me someone had a massively leveraged position during the 10% silver or $15 gold jump. Buy me something nice, you can afford it.
Bullish engulfing candles on the daily, nearly weekly, and monthly for gold and silver... will be interesting to see where this week ends up but IMHO until proven otherwise we have a bottom of sorts!
Amazing frenzy.... wonderful outcome.. even thought I did not get anything on the dip.... CONGRATS to the ones that took a punt and bought PHYSICAL yesterday... well done folks ! :lol: It's quite bullish breaking $1195's - $1200's..... very positive indeed.... Let's hope the ones in the background accumulating keep it bullish.... The Swiss have missed out.. that's for sure.
Important week ahead.... not only for TA's and FA's but, I believe we are approaching a important point where one of the major depository warehouses might not be able to "cover as fast" and it's operations might have to be halted due to delivery issues..... Interesting times ahead !
the test of $25 move a day for gold had been done....now we will see a $50 test and then $100 a day move test.
I exited my USLV position this morning. I will leave the trading profits to thatguy and wrcmad. USD is close to breaking out of the trend channel. May not happen right now, but better early than late.
The Flag is pretty much still alive at the moment.... Friday run could start to shape this up for a more clear view.... I hope to see "volumes" on Friday.... so... which way will it go? PS: oopsss note that in the last chart I've made the mistake of writing "pendant"(pennant)... it should've been FLAG....
The USD is still going up. For us in the US, gold is still headed down, but I haven't seen anyone calling for $1000 gold this year. Several have for 2015-2016.
There is a bird that told me couple of little stories..... 1- that SCOTIA might "come out to play" soonish...... 2- a "large" investor is about to enter the market..... I'm looking for volumes overnight.... should be very interesting which way it will bend. cheers T10
Gold held up well at 1190 US, high in AUD thanks to dollar tanking, the aussie is set to fall further next year and even further if the FED raises rates in June as expected. Could hit the low 70's. I am optimistic as gold has taken a bashing this week - Swiss ref went against it, S&P500 stocks are holding at record levels, OPEC announced not to cut oil production, US adding more jobs and higher wage growth and gold holding. Still gold is at 1190. I think the balance is evening out which could spell the end of correction and begging of a bull market next year, with events unfolding across Europe and Japan, QE & debt purchases all central banks will be doing everything they can to stoke inflation and avoid deflation.
If you were wanting buy using AUD now maybe a good time. I can't see anything to suggest the bull market for the USD is going to end anytime soon. Gold would need a weekly close above $1250 and silver $17.50 for me to start buying again.
