hi, @pantheo, gold resumed downtrend since 1295 bounce, and considering freefall in slv, going much lower
btw. slv is so generous, shorts are free money after disclosing the path ahead
cheers :)
pantheo
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@look4edge, True. Breaking below May low was a big damage for the quarter and with last week's O/S reversal things got worst,trading now below last year's closing. Buyers are from 14.4. to 14 now with 13.62 key and possibly we will have reaction during August. First week of August is dangerous regarding volatility. Commercials are closing their shorts but they are not at extreme yet as well as market sentiment. I like you point 8.3, its the area the if breaks yearly trend will change to bearish:-) Only a close above 16.40 will change things now. Cheers, P.
look4edge
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@pantheo, agree, to me sub 12 levels rachable, sth. like 10.5-11, 8.4 low looks bottom, but who knows
pantheo
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@look4edge, working on the nl now, we need this to break and create a possible bear trap as there is fresh demand zone right below.
btw. slv is so generous, shorts are free money after disclosing the path ahead
cheers :)