Disliked{quote} state ur reasons ( just simple point forms will be sufficient) for being bull , both from FA and TA perspective . the Mafia decides the direction and TA reflects accordingly . what have the Mafia decided ?Ignored
DislikedAll of this recent USA strong is all BS in MY VEREY HONEST OPINION. WE are owned by China, we have MASSIVE debt, NO ONE can get a job, healthcare is EXTREMELY FVKD! Need I --- OH and all the money on wars!, there is more HEROIN in the USA NOW then ever before because of the war in Afghanistan, This run will end and gold will rise above 2000 p toz. Be patient trade smart, BUY LOW SELL HIGH!!!! EASY! READ READ READ....... XTIgnored
Those are just a few. I will add some other more in depth fundamentals tomorrow.
A quick tech, this correction was needed due to a failure first to break above 2000 USD in part because just as we rapidly dropped @ that point we rapidly gained. Then there was a slight correction downward to say 1750 area where the price basically remained stagnant for weeks, as the longs waited for a retest and breach of 1800 it did not come and a new mini trend south began inside the longer term (yearly) uptrend. And shorts were added, next positive US news began to come out after many negative from the Eurozone, USDX rose and Gold fell. The claim that we are out of the "recession" here however talk to people who are unemployed and see what they think, drive around areas of New York and many others, and you will find business after business OUT of business and UP FOR RENT!!! Some old some new, yet no new replacements, we have a long road to go,
Next, we did NOT test onto the 1000's or my super support around 1050.
As I was not hear to alert a sell @ 1750 or a buy in the 1100s recently I am back and trying to expose the possibility of an official change in trend. We have corrected nicely so far, so we'll have to keep an eye on key areas of Support & Resistance, news and fundamentals.
In my crude borrowed 13 year chart you can see a rough major trend line. Sure the price could correct to the line, however I feel if it was going to hit it, it would have already on the smackdown.
Only time will tell, thus i can only advise to trade with caution in whatever style or direction you see fit.
edit: Also we rose a bit too fast to 1900 and thus, it was likely that if the price didn't take 2000 and create a new super strong support line,
a healthy correction was necessary to resume up. Lastly I feel we are a bit oversold still.
XT-
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News