precious metals up strongly , page-3

Hi Snider, now that Gold futures have been cleared and end of month done, GOLD support fades again

POG support at 200 DMA is clearly weak. First rush to break in Dec saw it hold and rebound well over 1725, now its come down to test and it failed, risen back over and failed to hold and this morning after all expecting 1700, 1663USD and POG AUD back below 1600AUd after rising in trade yesterday to near 1620AUD..

Back to basics, falling POG AUD, poor production report, guidance expecations lowered, let see how much retail is margined today, LT nothing changed, ST company still overvalued on fundamentals with forecast drop in EPS and cloud over ability to capilize on high POG AUD with strong production growth after investing BILLIONS....

traders should be very cautious here imo, step back and have a look at the XJO,,,a couple of months of basically up up up, finishing with a record 10 day stretch of positive gains, clearly way overbought for super growth , soon we will find out how margined and greedy the late comers have been