gold, page-97395

Overnight action on the release of NFP and certainly an attack was attempted on the announcement which failed. The attack mimicked the inverse action of the $usd and failed as the dollar dropped after the announcement and our "friends" couldn't handle the buying power so they had to instigate defensive action to try and draw the power out of the move before launching another heavy attack.



The little spike in the dollar below on a 1 minute chart is on the NFP announcement which coincides exactly with the gold spike low.
On the Daily the dollar has elected an outside downside reversal and indicates more weakness under normal conditions.
Hahaha. I just gotta have a laugh at the thought that anything is normal in this loony world.


End of the week gold chart indicating an upside weekly reversal indicating in normal times higher prices to come.


A daily on the gdx showing the overnight and so far an unconvincing bounce on less than stellar volume.

Getting back above that upsloping trend line would certainly change the picture.
So we have another low throughout the gold space and so far its less than convincing but there are some subtle signs that it may continue. Certainly not conclusive at this point in time.