magneet

magneet

EOD and no new highs. She seems to start buckling, the new low suggest a down trend, and the recent weeks of ranging suggests a possible expansion soon, most likely to the down side. 1900-1888 is the mid range March's candle that should be a good ref point to watch. Worth mentioning the trend is up on the monthly time frame, so id be expecting a retracement around...

magneet

What happens now ? Gold just made a new low yesterday and now testing its breath and pushing the top as high as it can. Through out last month, including these last weeks, gold has been struggling to make new highs and so far, that remains true. Id remain bear on the short term if the price wont push above 62.5, anything above that without a massive level failure...

magneet

She holding well above 1925 for days now, keeping averages above 1950 area which implies some strength on its long term momentum, but she also failing to make new highs and they seem to be descending in pattern at the minute. No other way other then wait and watch.

magneet Updated 

Looking at the market performance on the red side of the average, it seems to be quite compressed. The most likely outcome for today seems to be ranging. And an impulse leg to the down side seems to be slightly more likely. Bias still bullish.

magneet

Up leg, it seems the move comes from bad US data, Unemployment and Inflation numbers. Confirming strength of 1937.5 once again, yet as of this moment, there is no new highs nor new lows, suggesting ranging price. The weekly note remains, downward momentum seems to ease off a bit, leaving gold stuck exactly between 2k and 1.9k. Tomorrow is Friday and am looking...

magneet

1937.5 is the number to keep track of today as this could be the 3rd week it fails to close below this price. If that happens it would suggest a strong bull presence holding the price at that range. On the other side of the arena, theres a noticeable descending triangle formed with yesterdays move suggesting bears are still in control for the most part of the last...

magneet

Doesnt happen that often, so i decided to share. With each low, things should get clearer regarding what comes next. Curious to see if 1910 really happens or gets rejected.

magneet

its looking like price is failing to outperform the month open price level and weekly levels are on the negative side by comparison. So its looking like gold will have a longer consolidation around 1950 area, or just try and find support below it. So far 1900 is the closest candidate but i wouldnt rule out 1875-50. The week isnt over yet

magneet

Strong recovery since Truss. How long will it be able to hold its head above 1.24? Subtle downtrend.

magneet

I hope Euro finds enough buyers above 1.05-1.06, otherwise it becomes increasingly more likely for it to dive under parity.

magneet

Gold should go look for liquidity around 1925. Depending on the reaction to that price level we'll be able to assess if it will range just below 2k or trade above it.

magneet

Gold should go look for liquidity around 1925. Depending on the reaction to that price level we'll be able to assess if it will range just below 2k or trade above it.