Gold

What do you reckon Remo, re-testing the 1180 intra-day low of the year?

or beyond?

im already short on the gold from the breakout this morning.
Mentioned this on the chat.
This looks like it may be heading a lot lower so longs should be avoided for the time being.


dl.dropboxusercontent.com/u/4899609/gold20thnov.png

I'd go with that Remo...

but! I'm not bearish just yet!




Oh,regarding the Fibonacci retrace, is simply a matter of historical reference, watching the retrace rebound to the 61.8% is a thing of beauty.

Anyway, I believe that if Gold prices stay within the wedge, I'm of the view that something could happen (yes, I know, something will happen either way, wedge or not!)

Careful with new longs on gold.
To risky to go long on gold.

CommerzBank and Nomura Bank's Technical takes on gold...

a couple of pages each ...

This should be a free trade now. So make certain the stops are moved to break even
Was getting worried for a minute but this has come good now.


dl.dropboxusercontent.com/u/4899609/gold13thnov.png