Gold could go back down - page 7
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i am little shock after reading this article. Gosh!.
I think i have to move back to currenies only.
Anyways thanx for sharing!With FED "secretly" using HFTs at their Chicago branch, forex is as rigged as commodities now
I generally prefer currencies for the most part and trade Gold only occasionally when I see a suitable opportunity for it.
Sold at $1,237
I think it's forming a triangle, if that's the case it will probably continue climbing.
It formed a new high at 1279, but then it bounced off the resistance there, but I don't think that's the end of the rally.
The 1300 level on Gold could act as resistance, for now the 1257 level could be support.
if gold sustains above 1260 again.
We can probably see it rising towads 1307.
The rally is coming from speculation that US might step back on its decision of rate hike and global equties are also not strong enough. So the bullion seem to enjoy the safe haven bid.
Gold formed a shooting star candlestick on the daily time-frame and started falling again. I think it will reach 1235.
Last real down move was exactly on 31.12.2015. All points to gold price rigging again
(MA)89 on the monthly time frame is at 1280, it's normal it bounced off that level.