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gozinsa

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31/10/16

12:08

Post #: 20247878
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Originally posted by AverageJoe ↑

"A Donald Trump victory in the US presidential election could also give the Aussie a boost, as it might cause the Fed to hold rates steady in December." smh.com.au
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I find it incredible now even the MSM is joining the opinions that Trump is good for stockmarkets. Are they really saying that Feds are playing politics too?

Going back to Brexit vote, that sugar hit to the gold price was what I thought was the latest kicker for the return to continued positive move but in reality it lost puff as soon as the initial spike high was taken out. At the time it was impossible to tell that the lost of momentum was other than temporary but as the weeks went by and the price momentum struggled, we all saw those lower highs but not many admitted it.

If you strip out the daily noise and flip a weekly, price is in danger of how I see a lot of price mechanics repeated.. It runs up the very bearish weekly bar or some would say a short covering rally then as the shorts finish off their profit taking, fresh bears who see a change in chart technicals start opening new short positions. I have always remained hopeful that we were seeing a reversal off the bottom of the down trend but aware that when looking left of that chart, price is in fact falling from 1900. So from this perspective, I am always cautious of what I 'want' to see because having bullish physical stock positions can sometimes obscure the best of objective intentions.

So currently there are a few news driven events that can change the sentiment so chat technicals will be out of the window in the very short term reactive move from these events. One either believe Trump victory is gold friendly or not just as how consensus logic incorrectly explain why Fed's Dec 2015 rate rise was gold unfriendly. When you have such a complex metals, I have given up using logic to understand its behavior.

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"..price is in fact falling from 1900"

But won't this always be true until price is above 1900?
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