Hi timber
I think you are missing the point which Jack73 is making. It is not about it closing on the low which is the vital point... it is the fact that the high volume is being absorbed. What that indicates to me is .... for the price to continue lower the volume of selling will need to be even higher. That chart is clearly showing buyer support and of course the buyers will allow the price to go as low as the sellers are happy to push it.
It came up in discussion during the week that gold is being heavily shorted right now in conjunction with a rise in the $US. That might be the trade at the moment and maybe gold will go lower yet .... but that chart, to my eyes, clearly says that gold is not going lower because of poor sentiment due to a lack of buyers.
- Forums
- Commodities
- GOLD
- The gold plunge continues
The gold plunge continues, page-219
-
- There are more pages in this discussion • 919 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add GOLD (COMEX) to my watchlist
The Watchlist
RDN
RAIDEN RESOURCES LIMITED
Dusko Ljubojevic, MD
Dusko Ljubojevic
MD
Previous Video
Next Video
SPONSORED BY The Market Online