Yeah, ucs, I think srm is right there.
Markets hate gold rise because it shows fear and money taken away from stocks and into gold.
Markets not in terror crash territory yet, but on a knife's edge ATM, bearish, so kill the POG and scare people away from that and stay in stocks to keep them afloat.
(that's the way I see it now)
I'm blown away at the swings last night.
Just after our close, huge fall, gave up about 30% of the gains (seen from 1250's to $1300's).
but what an incredible finish!
Long wick on the daily candle. POG closed higher. Lows rejected.
POG sitting above the 50 and 200 day moving averages now, really good signs.
MACD still rising, POG is really firing just now.
all very bullish IMO!
The unknown now is how the economic news will affect POG this evening, and how much the monkeys will try and smash the price down again, LOL, this excellent chart posted by
@Lucror today
So, feeling from me this morning. Expecting another smack down tonight, maybe even today. Cannot predict the NFP number tonight, LOL, we could expect it is a splat in the current climate but POG could move strong initially from a number in either direction.
There is also the overhead resistance that still remains unbroken with potential shorters waiting to smash it there too, as happened at $1,308.
US dollar has tanked hard, maybe that is due for a bounce?
Those negatives make me think I will sell a bit more of my position at profit, but that's if the cappers do not keep us too low, I'd like a good price or it's not worth it. heck,
(I am just feeling a mood here, not fundamental value as such) - BDR should be up around 50c I think, damn sellers exiting/suppressing our share price since the double top after quarterly. It's been a really tough week for BDR despite POG raging up. I am going to remain in with more than half my BDR cash, and the upside from here is quite evident in the POG chart, just feel it may be wise to take some profits in case POG gets smacked silly this evening, but will look to pile all in before the election on the Trump card
Exciting times! Go POG!!
