Gold

It occurred to me when I read about Cyprus selling that it would be a good time to buy!

Any views anyone??

cyprus to sell off it's gold...

GS came out with a sell note ...hmmmmmmm

Lovely chart on Gold at the moment, approaching a strong technical level imo.

My alerts went off this morning - approaching both a key horizontal aswell as oblique channel support.
Lowest support level is ~1522 ranging to ~1534

The one risk I see is the 200sma on the weekly chart is currently at 1434 and rising. It isn't due to hit these current levels until June/July time. So there is a chance taht price could break below key levels to test this area. Another possibility could be Gold price ranges sideways until a 200sma test.

I have an order in for 1525 with a 15 pip stop

im so peeved off lol, closed all last week and then it dump another 40 pips down... grrrrrr.

agree Remo time to go long soon imo i like 1515....

silver looks good for a long to sub >26

Im planning on going long on a first attempt basis at 1522 with a tight stop.
This area has been good support in the past so hoping for a bounce on first attempt.
The support starts from 1531 to 1522 so it will depend on your risk level to determine where abouts you would enter long for a quick trade. The main trend for gold is sideways(since 2011) and a finish below 1522 could signal the down trend.Then you would have to look at the fibs for supports.

watch the monthly candle on this, maybe an inside month .... Key is 1617 my magic number for gold - a close abv then up it goes will look in detail over the weekend & will post chart a bit later....

i've close all shorts on gold.