On the daily, I'm seeing an increasingly bullish MACD and what will likely be very difficult moving average resistance at $1.10/$1.12 and a daily RSI of about 57, which is pretty neutral. I expect a very gradual climb higher, which for a May call OTM option holder is probably not enough!
Gold price is showing some modest signs of life, briefly cutting above 50 day m/a ($431.30) overnight, but still holding above its 100 day ($429.16). Daily parabolic studies still suggest lower and top of the monthly channel is $440, so in theory it can rally to there and still be caught in the overall downward trend. The problem is short-term eur/usd outlook aint fantastic, thought it was gonna clear 1.3000 last night, but very well offered ahead of there. EUR/USD above 1.3000 probably means gold trades a fair bit higher methinks.
RayK
LHG Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Held
