Looking at US QE announcments, each one was a sell the news. Although QE 2 rallied for a few days into resistance then sold off back to QE announcement lows and QE 3 went sideways for 3 weeks before selling off into current lows. QE 1 and Operation Twist both made announcment highs and sold off breaking announcment lows. With gold rallying in anticipation of the ECB announcing their version of QE I would think history could repeat. This rally imho is buy the rumor and once the news comes out it could be a sell the news?
elp
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QE1
elp
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QE2
elp
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OT
elp
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QE3
YaKa
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Elpuerto, excellent as always. tx
SaifurRahman
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Great! so quick reply.Thanks. In your opinion what sort of price level to expect in pullback/retracement during this time frame?
YaKa
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I dont know. if 1350 holds.. 1300 then we see.. max is 900 down. see my previous post.
SaifurRahman
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Hi looks like its really heading to $1340 region. Within what sort of timeframe you reckon will it hit $1340
YaKa
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will probably get close in 2 weeks but could take another 3 weeks to reach with little top oscillations.
so maybe 5 weeks altogether... that will give us time to see the steam fade.