A4O, I sympathise with your sentiments towards charts and yes I...

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Anton Chigurh

13,097 Posts.

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21/12/14

13:25

Post #: 14492881
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Originally posted by All4One ↑

Heraclitus

I find that charts and in particular charts of POG are usually used by short sellers or trolls to promote fear when it is trading near or just under support lines and they talk up the problems of breaking thru and not holding.

The truth is charts are no indication of anything to come and do not take in to consideration any thing that is happening on the global stage and in particular do not account for the huge positioning by global hedge funds and trading houses, nor do they take into account the Comex China/Russia or India. The problems in the world today are most definitely positive for Gold and it is not getting any better any time soon. My opinion is the POG is being held where it is for a particular reason and I do not know what that reason is. The fact that POG is trading in a very narrow range would tell anyone that something unusual is going on with POG. Given the last 6 month price fluctuations it is very strange to see POG in such a narrow range without a break either lower or higher for so long.

IMO something unusual is happening with the POG.

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A4O,

I sympathise with your sentiments towards charts and yes I prefer to invest based on s&d, fundamentals etc but would have to respectfully disagree that charts tell us nothing. I've worked on commodity desks with some big players and charts do actually have their part in a balanced view of markets, P&L strategy IMO.

Nonetheless respect your original post and good luck.
2 Upvote

0 Great analysis

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