The market it’s absorbing the Brexit impact and considering the trend, Gold could fluctuate until the first/second week of July (1300-1340). If we consider an avarage trend of 3 weeks, we are going to have some more bearish days before the next movement, even if there were some interruptions such as bank manipulation and brexit hysteria. Good indicators are OIL, USD/JPY, US market, manipulation in mass communication, main trend. I would be happy to see 1280 level again. Keep in mind the date 13.07.2016: 3AM (EUT - tradingeconomics.com/china/calendar) we gonna realize how is going the chinese debt steamer: pression is growing. Plus...Algeria gonna face the next political crisis, with Venezuela, Brasil, US, Saudi Arabia will trigger the rise of OIL. Merkel? Next one to leave the power. And if you like or not the big market shake gonna come with the Trump election. Brexit was the 2° shock this year, but the tsunamy is still on the way and we gonna have a lot of volatility in 2016. Don’t see the problem but profit from the opportunity. Long term buying in any case.
P.S. I am here to improve my languages, financial knowledge and technical analysis. Please feel free to contact me and help me achieve my goals ;) any support, sharing information and comment would be very appreciated. Good luck!
Yorum
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Gready bulls are already back ;) today seems they want to go to the moon, so do I ;) now only NFP and FOMC can influence the trend and outside the bank manipulation, a lot of investor are already looking for the new price of 1380/1400$.
Yorum
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Fed dovish speeches are always helpfull for stock market, decreasing gold. Brexit’s fears seems over and the circus can start again. But… considering the bigger picture the quantitative easing policies operated by the world’s central banks, it’s a clear sign of the economy health. European Central Bank Chairman, Mario Draghi, vowed to do “whatever it takes to preserve the euro”. Translation: icerbeeeeeeeeeeerrrrrrrrrrrggggggggg!!!!! Lifeboat is always the same: safe heaven. Indian demand for gold will continue to rise and with the Chinese crisis this winter, we gonna see new highs. Search a good entry until the 27th (FOMC) and follow the trend. Unless you are a good daytrader for scalping, don’t go agaist it. IMO Fed would let you believe it will rise hike, at the end a very good excuse will let them desist. For ex.? One very accredited possibility would be cyber attack: bloomberg.com/news/articles/2016-07-08/bank-cyber-attacks-said-to-prompt-fed-to-prepare-new-safeguards With great frequency I can read article about this possibility. If this will be the next mass media manipulation, it would be a great alibi for the establishment, concentrated to sell their shorts before the next gold jump. I sold part of my NUGT yesterday I gonna buy again between tomorrow and next week.
Have a good trade!
Yorum
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Is 1316 a good entry? I don't think so.. I prefer have a look at other opportunity until Friday.
Yorumlar
Annette
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Gready bulls are back ;) today seems they want to go to the moon and me aswel ;)
TPOTrading
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I like how you measured the swings in time.Very interesting. thanks
Annette
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Thank you, what about your position? Are you long or short?
pongbao
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Hi dear, with this speculation, how far do you think could the price go by this quarter?
Annette
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1380 with a bit of greedy mass madness even 1400, depends of the event. Personally I don't think FOMC gonna raise something, they will find some good excuses at the very last moment as usual ;) what about you, are you long?
pongbao
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I'm long but I'm looking to short somewhere around 1333 to 1336, and just go on with my idea. However, it seems like this bull's pretty stubborn so I'm letting it live another day.