All Majors and Gold

You might be right, but there was no push right at the LD open, so not sure how committed the longs are.

back to 1575 ???

Don't think so. 1580 is more possible. Since it is fib zone of recent up move. I guess it will go in to range on that point.

as per yesterday, I expect 80/81 to be decent support (maybe dipping to as low as 77), however so far sellers have not been really challenged by buyers.

I am going to long at 1578. There is our old friend trend line from bottom on H4.
Also fib zone of last up move.

Dunno about you guys, but i really have a tough time seeing gold break through that thicker red line and staying below...apx 8 hits in the last two years from above and it's not been broken, so it's solid resistance with (comparatively) low volume this time round. (daily chart attached) I'm looking for long signals to hold for (hopefully) a very long time in the next few weeks or so. Same goes for silver, almost identical. IF it does break down & stay down, i'll re-evaluate.

1580 is holding for now, some buyers jumped in but sellers are still preasuring, someone is selling into small pullbacks...... in any case the next support is at 76/77 which is 100 EMA on 1h chart. and then 1570 which is 100 SMA on 1h

very interesting read........

http://www.forbes.com/sites/steveden...of-big-sharks/

more from jim sinclair's website


Incredibly Important Developments In Gold & Silver Markets


Posted April 9th, 2013 by Eric King & filed under King World News.
Dear CIGAs,
Today King World News is reporting on incredibly important developments taking place in the gold and silver markets. Acclaimed commodity trader Dan Norcini told KWN that “What we are seeing is a battle of titans taking place in the gold, silver, and commodity markets.” Norcini also warned that this is a similar type of setup in which the silver market moved a staggering 525% higher, and gold advanced 183%.
Norcini has been stunningly accurate in his predictions of the movement of the gold and silver markets. Now the acclaimed trader discusses these incredibly important developments in both of these markets: “What Japan is doing right now is unprecedented. The Japanese are engaged in massive QE. Their current version of QE actually exceeds the size of what the Fed has done when you compare the scale of both economies.
The world continues to witness tremendous turmoil in the currency realm, and Japanese institutions hold a staggering $6.34 trillion of government bonds, in the face of a plunging yen and virtually no yield on their bonds. What this is creating is a massive flight of money out of Japan.
This is impacting key markets around the world. Yesterday, as an example, we saw a tremendous rally in silver, solid strength in gold, and a big rally in the mining shares. But this move is very different than what we have seen in the past. This strength in gold, silver, and key commodities, is taking place as money is fleeing Japan….
Click here to read the full interview on KingWorldNews.com

you are learning my friend....r u still on the sidelines?

waiting for that 77 dip

EDIT : or some kind of a signal - like 15min candle formation

i'm out 1579....+1000 pips

wooooooooohoooooooooo

current 1579.80
buy order 1581 tp 1586

if we close this hour at or above 83, should see it go higher

off to go do my morning jog, be back in an hour

gold is making base to shoot up if im not wrong!

strong buyers at 78 as far as i understand

goldman is really trying to push it down to convince more clients to sell ))

in 1581 tp 1586

went long at 1577.2 stop at 70, may move 1 or 2 bucks down depending on the movement but for now seems like a good level for stop.