Gold could go back down - page 4
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You may be right but Gold reacts more to fundamentals than technicals and also the recovery is not from the strong hands. It’s all because the global sentiments for equity markets have gone lot weaker. All the major indices in the world are trading at their lows but there is no strong reason behind this. Its not that we are facing recession that we saw in 2008, there is no global movement that reminds of financial crisis. We have seen major central banks taking strong steps to grow their economic conditions. Gold is rising on safe haven bids, but once we see the recovery is global markets gold might again touch to its lower levels of 1060-1050.
Yes, well, I am not very good at fundamental analysis, so I do what I know. That said, Gold did break above 1113. Mind you, I am not arguing against the idea that we could expect another drop, I just think we'll see it rise a little higher before that.
Yes, well, I am not very good at fundamental analysis, so I do what I know. That said, Gold did break above 1113. Mind you, I am not arguing against the idea that we could expect another drop, I just think we'll see it rise a little higher before that.
Yeeah Dianajs, you are right, technically speaking, breaking the level of 1100 and then $1118 is a kind of bullish signal. Till the time the global equties do not rebound i feel gold might test the levels of $1130 or $1140. Even all the technical indicators are signaling as its a strong buy but from my experinece i find gold to react more fundamentally so just presented my view to be bearish for a longer view.
Have a nice day!
As I expected it reached 1127 and there it found some resistance. The question is how long this resistance will last and whether that was the end of the rally.
Gold make a bearish bounce from the 200 day EMA. Gold may try to go back down but if it goes back to the 200 day EMA, it may try to break it.
Gold make a bearish bounce from the 200 day EMA. Gold may try to go back down but if it goes back to the 200 day EMA, it may try to break it.
bearish or bullish bounce?
Gold is headed for 1150, a breakout above that level would possibly mean that it will climb to 1180.
I am waiting for the results of the NFP, but I think Gold will continue rising. It might even reach 1200 eventually.
Good move this week!
I am waiting for the results of the NFP, but I think Gold will continue rising. It might even reach 1200 eventually.
$20 raise on Friday alone. It is going wild
It did reach 1200 as I said. The question is whether it will break above that level.