SaturnV,
Yeah, I know exactly what you're saying. Bear in mind, however, that the chart I put up is a weekly one. Technically speaking, things can make progress for a few weeks, even though the techincals are deteriorating. A classic case in point is the original break of $US1,000 by gold.
However, there is a phenomenon going on over the past 10 years or so which I have rarely seen anyone comment on. It happens in virtually all markets, yet it's passing under the radar. It's the volume of transactions which occurs.
Volume has been increasing exponentially during the past 10 to 15 years. I believe it's a combination of the internet (allowing multi-jurisdiction and faster, more seamless trades) and the dominance of the leveraged punters (investment banks and hedge funds) over that time.
The result is that all elements of the market - from price, to volume, to technical indicators - have become more volatile as time has gone by.
So, is gold overbought? Or is it starting to move into a wider, more volatile range? I'd vote for the latter, because I think Heli Ben's move is an absolute game-changer.
The US, whether the know it or not, has just executed the $US as the world's reserve currency. It's now just a matter of "When", not "If".
- Forums
- ASX - By Stock
- GOLD
- up we go again
up we go again, page-17
-
- There are more pages in this discussion • 8 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add GOLD (COMEX) to my watchlist
The Watchlist
CCO
THE CALMER CO INTERNATIONAL LIMITED
Anthony Noble, MD & CEO
Anthony Noble
MD & CEO
Previous Video
Next Video
SPONSORED BY The Market Online