Hopefully the banks got out of the way of gold's decline - at least for a few hours - and we can tag finally the lower line of the channel around 1248$.
I knew it's not going to be easy against the dip buyers but I was not counting with the manipulators who were holding gold's price against the dollar strength. We should break the blue line soon...
Let's see if they are ready to loose some more money with holding the price against the dollar and stocks.
Because stocks will rally today.... The retail sales numbers were pretty good !
I knew it's not going to be easy against the dip buyers but I was not counting with the manipulators who were holding gold's price against the dollar strength. We should break the blue line soon...
Let's see if they are ready to loose some more money with holding the price against the dollar and stocks.
Because stocks will rally today.... The retail sales numbers were pretty good !
Comment:
I' ve corrected the trendline (blue) as it seems the 6th May breakout was not a false breakout: it was a pivot of the trendline.
We are tagging the upper trendline right now with very low volume. Don't forget Europe is closed today. Now it's crystal clear that buyers are in the eastern markets.
Let's see what's happening when US markets open.
We are tagging the upper trendline right now with very low volume. Don't forget Europe is closed today. Now it's crystal clear that buyers are in the eastern markets.
Let's see what's happening when US markets open.
If the dollar rallies with stocks they will give it up soon.
They will let gold fall. The retail data was really good. The dollar won't stop today.
STocks should rally also.