$GOLD loosing momentum at below 1510

$GOLD was expected to trade higher and break the upper balance 1520. yesterday , US session, GOLD didn't go back to above 1510. Gold may still maintain the range between 1515 - 1480. i will change my bias to up side when GOLD trade back above 1510. Below 1505 will trigger more liquidation.

Comment:

Gold reverse from 1504 to 1507 before London open. Break 1508 will start squeezing the sellers. run over 1510 will make seller to cover more positions.

For bearish bias, I wanna see new selling at this area (1506-07), then I can expecting more liquidation 1490-80.

Comment:

I sold GOLD at 1506 and 1504.. take some profit at 1500 , and see if 1490 - 1480 will hold. Of not.. mm 1440s ?

At US market, if the buyers aggressively come back (likely not), 1520 will be broken with this week or next.

This liquidation action, if this keep going deeper, I think US stock will still go higher. I haven’t check with with the T-Bond, but seems traders will buy more on the stocks.

But if Buyers come back very strongly, we may see the profit taking on US stocks.

Comment:

Sorry, I exit my selling Gold at 1495 not 1500.