GOLD - Hourly channel

FX:XAUUSD   Gold Spot / U.S. Dollar
1394 9 32
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 !
Comment: SIt tight guys.
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.
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.
Hope this will fall soon .. otherwise all shorts will be invalid
Not sure if I should buy more DUST again (1.28) or sit and wait.
1281 was broken. Whats next?
nexuz alanprotrader
around 1287/88 would be next resistance - seems finaly like a bounce so far.
I'm holding all oil and gold-short positions over the weekend.
Clf printed a nice double bottom so far - sit back and enjoy the Show :)
keefer0 nexuz
Still enough bullish .. looks like it bounced hard from it supportlevel
Awesome. Master.
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