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  • #11,581
  • Edited 2:45am Jul 15, 2014 2:11am | Edited 2:45am
1. 1310 was tested several times in last hours, if we can break it then 1320 (~average of last month) is unavoidable.
2. Silver is much stronger than gold (it only touched 20th june candle) and silver usually "shows" direction
3. There is a lot of fear on the gold market after yesterday but price is not falling anymore...

All in all I'm bullish.
  • #11,582
  • Edited 3:02am Jul 15, 2014 2:51am | Edited 3:02am
Quoting jimmij
1. 1310 was tested several times in last hours, if we can break it then 1320 (~average of last month) is unavoidable. 2. Silver is much stronger than gold (it only touched 20th june candle) and silver usually "shows" direction 3. There is a lot of fear on the gold market after yesterday but price is not falling anymore... All in all I'm bullish.

Tested again.

Apparently not happening, there may just be way too many people long gold.
  • #11,583
  • Jul 15, 2014 3:54am Jul 15, 2014 3:54am
Quoting Ck87
{quote} Tested again. Apparently not happening, there may just be way too many people long gold.
I think bulls were slaughtered yesterday and bears last weak so basically we are starting from scratch in the sense of building positions.
  • #11,584
  • Jul 15, 2014 4:20am Jul 15, 2014 4:20am
Quoting ClockTrader
{quote} Nice to know, its all off the topic, but, I think people should know where I come from. Punjab is the most prosperous state of India. Its capital 'Chandigarh' ranks among the top 100 cities of the world. There is a lot I could write, but I think you could understand a lot in few words.
Chandigarh rocks..... clock traderBest city in while world
  • #11,585
  • Jul 15, 2014 4:25am Jul 15, 2014 4:25am
Quoting jimmij
{quote} I think bulls were slaughtered yesterday and bears last weak so basically we are starting from scratch in the sense of building positions.

Clearly the case if this does indeed have legs….. I could see gold going to 1400 or higher in next couple months…. might be a grind though...

Trying not to watch it too much because I get too anxious and get out early,, but it does seem it'll drop back to at least 1310… might be a good time to add
  • #11,586
  • Edited 5:24am Jul 15, 2014 5:02am | Edited 5:24am
trying Sell below 1312.5
TP 1284
where are we? we are here. where are we going? ...
  • #11,587
  • Jul 15, 2014 5:31am Jul 15, 2014 5:31am
Quoting weti
tomorrow will swing gold in either direction. patience is key, wait for yellen's words.
It is not likely Yellen will say anything new, but a slip of the tongue could move markets. Trading usually slows this time of year anyway...and i think we might have to wait until autumn for a clear direction. We could see gold range higher on some bad economic news prints or crisis somewhere, but my experience and instincts tell me that the Goldman Sachs/Sucks crowd is likely correct about the direction of prices...down by end of year.
"The market can remain irrational longer than you can remain solvent"
  • #11,588
  • Jul 15, 2014 5:58am Jul 15, 2014 5:58am
welp, back to 1310, that didn't last long.. mkts just so hard, why i sorta conditioned myself to take profits quickly, because they always take em back..
  • #11,589
  • Jul 15, 2014 7:15am Jul 15, 2014 7:15am
Good morning gents. Lots of failed bottoms on my charts yesterday, but it looks like the most recent set is holding. Might be worth a small long entry around 1310. Personally I'm sitting on the sidelines a little bit until we have a reasonably clear path for gold to travel.

Yesterday, I closed shorts from 1340 at both 1320 and 1318 and quickly went long. Clearly gold continued its downtrend and I was stopped out at 1310.
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O you possessed of sturdy intellect, observe the teaching that is hidden
  • #11,590
  • Edited 7:40am Jul 15, 2014 7:21am | Edited 7:40am
they'll never stop fleecing the public, which means gold to get sold off more

Yup, told ya, just never fails
  • #11,591
  • Jul 15, 2014 7:49am Jul 15, 2014 7:49am
Not sure those very positive revisions for Retail Sales...or the good print for Empire State...but will be watching for a run at 1300. A break below could see an extension to 1288.
"The market can remain irrational longer than you can remain solvent"
  • #11,592
  • Jul 15, 2014 8:39am Jul 15, 2014 8:39am
today group is very silent all waiting for yellen speech and fresh trend in gold ...
  • #11,593
  • Jul 15, 2014 9:05am Jul 15, 2014 9:05am
Quoting gold1234
today group is very silent all waiting for yellen speech and fresh trend in gold ...
Don't think anyone is expecting her to say anything different..
  • #11,594
  • Jul 15, 2014 9:05am Jul 15, 2014 9:05am
Silver has given high gold not even near to high ..... watch out
  • #11,595
  • Jul 15, 2014 9:08am Jul 15, 2014 9:08am
Yellen is dovish for USD. Whenever she testifies just sell USD. Gold, EUR,GBP up!!
  • #11,596
  • Jul 15, 2014 9:09am Jul 15, 2014 9:09am
She always brings gold and silver up, begin to think she is the biggest buyer in precious metals
  • #11,597
  • Jul 15, 2014 9:14am Jul 15, 2014 9:14am
Quoting edln
She always brings gold and silver up, begin to think she is the biggest buyer in precious metals
Exactly right, but it is the Chinese that are buying...which is precisely why all the dovish talk from Yellen is bs. Later this year, her tone will change, but she does not want to spook markets.
"The market can remain irrational longer than you can remain solvent"
  • #11,598
  • Jul 15, 2014 9:16am Jul 15, 2014 9:16am
More fleecing to come, just false hope with that move up
  • #11,599
  • Jul 15, 2014 9:20am Jul 15, 2014 9:20am
Quoting Ck87
More fleecing to come, just false hope with that move up
Will Yellens, Draghis and these crew it's always the same: Price becomes crazy for just a few minutes and return to the inicial point where we were before. Still trying to find out what is the point of waiting for their speech...
  • #11,600
  • Edited 9:51am Jul 15, 2014 9:24am | Edited 9:51am
Quoting MikiFX
{quote} Will Yellens, Draghis and these crew it's always the same: Price becomes crazy for just a few minutes and return to the inicial point where we were before. Still trying to find out what is the point of waiting for their speech...
Yeah, they're always irrelevant, typical fleecing though, complete obvious pump and dumps

Need 1306 to hold

Even as the s&p is selling off they are still selling gold…really incredible
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