I'm amazed at the strength in the metals, smack down get up>smack down get up>smack down get up>smack down get up>
Someone wants to roll JPMorgan. My roll of the dice Iran. Currency wars are a bitch, but not if you play the cards right. Foil hat off now
Repelled off resistance at 1795 Bear camp looking at triple top Bull camp looking still looking at the old trend line
On the daily - Support: 1770 (the downward sloping line off the old highs Nov 11 & Feb 12) 1760 - 1755 (the price action over the last 3 weeks following QE infinity breakout (1755) + old S&R on numerous occasions) 1750 (old trend line)
http://www.avidchartist.com/2012/10/gold-breaks-below-august-and-september.html Gold breaks below the August and September rally trend line The hard part will be picking the bottom... $1725??
gold has almost regained all of yesterdays drop in 1 day... impressed by the strength in the metals yet again. Would be annoying to drop so much paper onto the system to only have it erased in 1 day... starting to believe in this law of diminishing returns, they're going to have to do something wild to try punish the BTFDers IMHO
Might be headed to fill the gap left around 1751 -1755 before finishing the correction I've placed a couple of bets on that happening, so it most likely won't
We're in the zone now, only a few bucks to go. I wonder if it will nudge up a little further to give the 20 DMA a nudge around 1760 as well? (then back down to complete the correction circa 1700 before the moon launch is my bet)
XAUUSD YTD AU breached the MA50 (1749) and at the moment, we sits at 1740. are we heading to 1720+? it seems there are few supports (three I think?) to hold the strength before we can see again 1645.... ------------------------------------- with the strength of AUD dollar, you guys think It will test AUD$1655? I have a feeling that it will........
