gold, page-3369

Incredible 4 TU for this 2 charts that is curve fitting trend lines! I am not sure what Maguc line you can use to get s clearer picture of your bias. Top chart regardless is that perfect trend line flip level if can call it, you don't think think those red bearish momentum bars mean anything? The trend on the daily may, by difinition depending how far back one look, be up but momentum is definitely to the down side. You can try and buy from next week but what are the chances it Weill suddenly reverse? Price may stall with bears profit taking before another slide down or reverse bank up. Currently easier for price to slide than recover and hit those road block bear bars.

Second chart has exactly the same principle, massive bull bars reaching the top and all you are interested is the short side? I will not put any fundamentals on this so not to be accused of curve fitting. I showed you the consistent SSI index suggesting too many retail positioning for the short side as it is an accepted strategy to always bet against retail positioning. I am not suggesting this is a sure win strategy but higher probability.

They reality is not what eventually Yellen will do but what the markets think she will do. How long did the market anticipated The Feds chance of raising the first time. If I recalled about 1 year prior. All this time USD strength was inherent through the USDX price trend. All this time gold bugs were predicting market crash, ccy reset, US economic failure and all the depressive kitchen sinks they can throw at their convictions. Here we are entering a potential second rate hike and we have the same garbage talk with the same responses. It seems people only want to look for confirmation to support their believes until eventually they are correct years down the track. Those who bought gold at $1900 and expecting it to keep rising have been dissapoints for 5 years. What if it takes another couple of years for price to struggle up? When it gets up there again, would they continue to wait patiently or square off?

Post a more credible chart please.