- INTL FCStone (based on CNBC)
Gold prices attempted to skyrocket again on Thursday; however, by the end of American market session the bears managed to push the bullion down to 1,232 and below the 20-day . Intraday peaks were in turn reaching the 1,240 area. The metal's mid-term intentions are still unclear, because it seems to be fully ignoring the technical cluster between 1,227 and 1,233. Only a plunge under the 1,215 level (March 23/28 lows) will renew talks about more losses down to 1,199/98 where a new monthly S1 is resting now. Daily technical indicators have also moved a bit more into negative territory.
The distribution between the SWFX's bulls and bears is more or less frozen at 41% vs 59%, respectively. The gap has tightened by only two percentage points over the past 24 hours.