Gold – the final bubble, page-865

Ain't that funny from last Friday's NFP numbers. Logic suggest that it should drop as the USD buying gathered pace post news but bulls came back. I was tempted myself to short but a simple look left and you see a rejection off the previous lows so I waited for that daily candle to playout before confirming.

Here we are with price once again testing those lows and one can only look at history to gauge how the likely reaction will play out. Dreamers use all sorts of techniques to extrapolate right hand side of the current chart.

I'll be watching 1170 and 1162.50. At this stage I favor long 1162.50 right at the edge with a max risk reward 2.This ratio depends upon stop size of course.

What is "confirming" at current time is the prospect of Grexit an unlikely event but the shadow boxing will play out until 11th hour. Very quick and dirty by also looking at Fiber and bond prices.