Still a lot of shorts here- I am not opposed to the possibility of another dip, yet I do expect to see 1300 next week.
For the north side the bulls really need to sustain 1300 multiple closes, then work up past 1350 with NO DIPS Lower than 1275 give take 15 bucks.
Likewise the shorts are keeping the pressure on, but not enough steam to break 1250 as of yet.
End of year is an interesting time, many want to book profits for themselves, clients, funds, banks, etc.
Yet, volume wanes due to the holidays, and unmanned desks, so the price can easily be range bound from 1250 to 1350 appx.
We are beginning to really be forming another large symmetrical triangle on the daily WITH as well two channels one south and one north that when the price reaches the last crossing point could spell for explosion because the point is also near the top and squeeze area of tightest, where the triangle should break.
Depending on some fundamentals, and price action as the year grows closer to an end and the price pushes sideways winding up, we should be able to get a consensus
of which way the break will go and some forecasts going into 2014.
For the north side the bulls really need to sustain 1300 multiple closes, then work up past 1350 with NO DIPS Lower than 1275 give take 15 bucks.
Likewise the shorts are keeping the pressure on, but not enough steam to break 1250 as of yet.
End of year is an interesting time, many want to book profits for themselves, clients, funds, banks, etc.
Yet, volume wanes due to the holidays, and unmanned desks, so the price can easily be range bound from 1250 to 1350 appx.
We are beginning to really be forming another large symmetrical triangle on the daily WITH as well two channels one south and one north that when the price reaches the last crossing point could spell for explosion because the point is also near the top and squeeze area of tightest, where the triangle should break.
Depending on some fundamentals, and price action as the year grows closer to an end and the price pushes sideways winding up, we should be able to get a consensus
of which way the break will go and some forecasts going into 2014.
Dislikedlooks like everybody going for long, I am quite sure that wave C starting, and with the daily chart, the confirming of 2 stage retracement is quite clear now, now just need to confirm that if wave C is a 5 wave or 3 wave, if it is 3 wave and is below 1362 then there is a big chance that it will have wave D and E as the triangle,any comment welcome, cheers.Ignored
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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