The content on this site is provided without warranty, express or implied. All opinions are those of the author and may contain errors or omissions.
No material here represents investment advice and you should not base your investment decisions on what you read here without performing your own due diligence and/or seeking professional advice, as appropriate. Actions taken as a consequence of any analysis, opinion or advertisement on this site are taken at your sole responsibility.
out of ammo .. fired last salvo at 1050 euro.. but. if they knock it down to 1080 euro.. i could use the SCR.. strategic cash reserve
Computer says €1080 and then €1050.
Computer is often a liar though.
Looking at the side-by-side of $gold and €gold, we're close to invalidation of the euro H&S possibility I guess. But it looks to me like both are still potentially in play. Perhaps we should wait to reserve judgement until, say, 3rd August -- who knows?
I notice the gold chart in ¥ and SF are interesting (potential double tops?), and also AUD (cleaner potential H&S than € and £?).
Patience is the watchword. Which, fortunately, is much easier when you're neither at the All Inn, or All Out.
I dunno, I take a couple of days off blogging to spend time with visiting family, and it all kicks off! :-D
Seems like we have an answer on the above question at last...
So the question now is: is it liftoff, or do we get a rest to consolidate the breakout? Who can know for sure, but let's take a look at a chart to see if we can maybe get a steer...
RSI and STO are suggesting perhaps a pullback are not entirely out of the question at this point (but by no means a given), plus also the Bollinger bands indicate again that a pullback isn't out of the question (but by no means a given), and also the moving averages are somewhat left behind. Technically, $1550 doesn't seem like it would be out of the question (but by no means a given).
However, when you are living in interesting times, technicals often go out of the window. So... "who knows!" :-)
You can get an update of this same chart from Stockcharts, here.
Checking in for a checkout...
RSI: H&S top?
STO: Just cut down through 80, going lower?
Bollies: WIDE apart, and at the upper band.
MA's: WAY behind current action.
Hmm, you might think I'd be a seller looking to buy back later at a much lower level, based on these technicals. Technicals, schmechnicals: this is gold we're talking about!
Post a Comment