It has now been almost 10 days that the market keeps chopping up and down --- and just when you think there's a breakout, it pullback and just when you think there's a sell off ------- it goes a bil lower and reverses.
It does look there is support at 1292-1305 but there is no guarantee that it won't break down towards 1280. There seems as lot bullish in gold with GoFo rate, COT and seasonal trend. But price has not been able to push forward and we remain stuck in this range. WIth Job report on Friday it could continue with more of the same.
Its frustrating not trading but there is no trend at the moment. Things looked like we were going to move higher yesterday after the FOMC as we moved back to 1330 ---- but as you can see, we're back at 1308 this morning for a low.
I'm looking at the chart ---- and it does seem the upside has advantage but it can still go either way. I'll keep looking but its a guess at the moment.
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GOLD CURRENT TRADE
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BGT at 1285.26 stop 1270.00 On Aug 02
Closed At 1314.00
Closed At 1314.00
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YOU SHOULD NOT TAKE ANY MATERIAL posted on this BLOG AS RECOMMENDATIONS
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
Do your own due diligence.
No one knows tomorrow's price or circumstance.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
King Regards
