Gold price, page-6521

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V*

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13/10/16

09:11

Post #: 19820714
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Originally posted by binwood ↑

Yep that peak that temporarily breached the downtrend also came not too long after (2 hrs) POG touched $1,249.85, so a little touch and bounce. I guess we can take positive in the fact that $1,250 was tested briefly and it bounce off it quite quickly. On the flip side we are still contained within that downtrend. A bit of indecision between parties. Based on the scale of your chart it looks like sometime in the next 24 hrs we will see a convergence of the downtrend and $1,250 so we might get an idea of what the next move is soon enough.

I am happy gold has held $1,250 to date. I want to get back in for a bit of a gain but watching support fall through is counter intuitive to my long term view for BDR so not really the situation I want to be buying back into.

I think HUI rose by a similar amount to what it fell the day before, so again a bit of indecision. Probably got a bit of a lift on the fact POG seems to have stabilised in the near term.

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If we rise with the HUI today, it gives me the option to make a little kickback and sell yesterday's parcel at the price I sold for on Tuesday

Another (bullish) way to look at gold price could be, it's exactly where it was a week ago.
Not trending down at all. Pure sideways consolidation that keeps holding the $1,250 support.

but you know, I'm biased holding all this BDR!

Last edited by V*: 13/10/16

BDR Price at posting: 40.0¢ Sentiment: None Disclosure: Held
6 Upvote

0 Great analysis

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Gold price, page-6521

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