HiTech
Short

GOLD CORRECTING DOWN

FX:XAUUSD   Gold / U.S. Dollar
353 20 10
Downside target 1168, should be reached by 08.05
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very interesting (sry i am new here but are u in d trade already?)
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HiTech PRO sugardaddyFED
yes already in
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dollar weakness at it again despite positive phill fed data - short covering on US longs are rampant - lets hope the dollar bears take friday off
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Im not in the trade, im waiting for the daily close today.
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The miners are pointing to more upside, at least in the short term, but the divergences on the daily and weekly charts in gold and silver say otherwise. 100% conflicting
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HiTech PRO futuresecuritieslawyer
we are yet to find out but all my analysis pointing for downside correction that could be developing pretty fast
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ok, i hope youre right, im waiting til the close to short 4 futures contracts
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futuresecuritieslawyer futuresecuritieslawyer
couldnt wait, shorted 4 @1200.00
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HiTech PRO futuresecuritieslawyer
:) you have to be patient no matter what
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HiTech PRO futuresecuritieslawyer
I waited for this setup for more than a week
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yup, now here comes another rally attempt...lol
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Classic "inside day" in gold and silver, change in trend, the next several days should be down, down, down.
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Any comments on the daily and weekly closes (gold and silver)?
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HiTech PRO futuresecuritieslawyer
We might see some spikes up on gold and it could move slightly higher (maby even double top near 1.222), although the target should be reached with high probability
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Its going down pretty fast so could hit the first time target
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1170 and 15.50 silver should happen this week, that should trigger some technical breaks and send us down to 15.00 and low 1140's
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HiTech PRO futuresecuritieslawyer
Well first we need to see what will happen to 1170 support when/if hit
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tcas futuresecuritieslawyer
I think 1170 is a good target. But very doubt we can reach 1140 soon.
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GOLD hit my other downside target at 1174, now should be starting going up slowly
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