daytrading oct 16 morning

  1. 9,428 Posts.
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    Good morning traders

    Thanks Highlandlad , thought I might expand a bit on the gold segment of your report with a chart.

    The 1 % fall in the gold price overnight failed to affect the HUI very much, only marginally down 0.04 % .

    Gold is currently at a horizontal support level which may prove to be a neckline if a H & S pattern plays out.

    A number of commentators noting the price is looking a little stretched at this point , especially if the US economy shows signs off life .

    An interesting juncture and I am sure the gold bugs are still looking at $ 2000 / oz by years end.

    Check your open orders and good luck.


 
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