Gold Analysis 01.11.12 | Metals Mine

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Gold Analysis 01.11.12

  • #1
  • First Post: Jan 11, 2012 4:20am Jan 11, 2012 4:20am

The gold reached the resistance of the 200 SMA few days ago and corrected down from there. I think that the metals are in a bullish momentum these days so I waited to a bullish reversal to occur – and it eventually did. The gold set a bottom at $1600 and it is about to retry breaking out the 200 SMA. If it succeeds, it might jump to $1650-$1700. A break-down of $1600 will be probably the end of the current bullish session and the metal will resume falling.


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  • #2
  • Jan 11, 2012 5:58am Jan 11, 2012 5:58am
hy,
you mean gold go up on the next days?
Or go below the 1.620?
  • #3
  • Jan 13, 2012 5:51pm Jan 13, 2012 5:51pm
It would be nice to catch a sell around 1700, depending on what PA does.
Shapeshift greed and catch em' off guard
  • #4
  • Jan 13, 2012 7:02pm Jan 13, 2012 7:02pm
Quoting LucianoDolce

The gold reached the resistance of the 200 SMA few days ago and corrected down from there. I think that the metals are in a bullish momentum these days so I waited to a bullish reversal to occur – and it eventually did. The gold set a bottom at $1600 and it is about to retry breaking out the 200 SMA. If it succeeds, it might jump to $1650-$1700. A break-down of $1600 will be probably the end of the current bullish session and the metal will resume falling.


...

so what you're saying is, Gold could go up or down..... jeez that's great i don't think i could have ever worked that out on my own.

do we really need a new thread for this wonderous information there are threads up already.
  • #5
  • Jan 18, 2012 4:10am Jan 18, 2012 4:10am
Quoting >Apocalypto<
so what you're saying is, Gold could go up or down..... jeez that's great i don't think i could have ever worked that out on my own.

do we really need a new thread for this wonderous information there are threads up already.
The technical trader should not make an absolute decision whether an instrument is going to rise or fall. He should ask himself what is the general trend that he sees and trade along the trend. However, he also has to get ready for both scenarios- break-down or break-up. That is why I mentioned two important levels in the gold's daily chart- one for bullish session and one for a bearish session. I started my analysis in saying that I believed that the metal is on a bullish momentum and therefore I aimed this direction, but again, the technical trader has to be ready for all kind of situations… hope it is clearer to you now..
  • #6
  • Feb 20, 2012 3:38am Feb 20, 2012 3:38am
The Gold reached on the beginning of the month to the resistance at $1763 and started correcting down from this point. It slide down to the level of $1700 and found the support there, though the correction was quite short considering the 10% rally from the beginning of the year. However, stochastic levels are not in "overbuying" situation, which means that a bullish reversal might occur around the current levels if the price crosses above the resistance at $1740. In this case, the price will create the inverted "head & shoulders" pattern under the resistance at $1763$.
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  • #7
  • May 28, 2012 1:00am May 28, 2012 1:00am
gold will jump if there is below estimated reading job data in fraiday
  • #8
  • May 30, 2012 3:25am May 30, 2012 3:25am
I believe that the stock markets are about to correct 2%-3% percent up and this will lift the metal markets higher. However, at this point I don't think that it is a good timing for opening a long position and we need to wait for the gold to break-through $1600 before we consider that.
  • #9
  • May 30, 2012 3:53am May 30, 2012 3:53am
short term jobs report in Friday , put 20 Jun fed meeting is key point, fed may give winks to keep interest low and monetary easing if economy in soft batsh
  • #10
  • May 30, 2012 3:53am May 30, 2012 3:53am
http://www.forexpros.com/analysis/go...-liquid-124769
  • #11
  • Last Post: Jun 5, 2012 11:51am Jun 5, 2012 11:51am
gold will hold at least until Thursday Bernanki speech if there promesed something gold will jump
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