USD gold price looking very constructive with the break through the 200day moving average line in recent days. Aussie producers getting an even bigger uplift with the declining AUD over the week seeing them seelling production at $1600 equivalent.
With the Fibonacci retracemrnt line coming in at $1147, if we can hold above this line, it opens the door for a move back towards $1175 in the near term. I had a dip at EVN last week when USD gold held the Fibonacci retracement at $1128.
With US markets flirting with the 20,000 mark and the VIX at record lows, this bodes well for increased volatility after the window dressing is complete for the US end of financial year tomorrow. I think that it's fair to say we have seen a decent bottom put in for Gold, with risk v reward very much squewed in our favour.
Can't get my chart to upload, if any chartist care to upload the USD Gold price daily with moving averages and Fibonacci's. Also the EVN chart, would be appreciated.
Cheers
USD gold price looking very constructive with the break through...
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Last
$3.63 |
Change
0.050(1.40%) |
Mkt cap ! $7.208B | |||
| Open | High | Low | Value | Volume |
| $3.62 | $3.65 | $3.58 | $27.89M | 7.715M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 98052 | $3.62 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.63 | 3649 | 1 |
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| Last trade - 16.10pm 19/06/2024 (20 minute delay) ? |
| EVN (ASX) Chart |