Gold unfolds

This is truly a lovely looking chart to a technical trader like myself.  Notable features are the supportive 50 week moving average since 2005, breakouts at about $460, $730 – slightly rebuffed at the $850 area (old 1980 high resistance) then on to test $1,000 for the first time in 2008 and rolling over [...]

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Short term gold picture

Newmont, the Gold ETF (GLD) and gold itself have completed rally’s and (potentially) bearish pennants on the weekly charts.

Gold may face selling pressure in the short term as price meets overhead resistance. Also there are a couple of contrarian indicators which I spotted in this month’s issue of these popular magazines.  Purely on balance [...]

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Extra-ordinary selloff

Silver and gold stocks getting battered again today, SSRI down 16%, on the day – the biggest one day fall I can remember, possibly if ever in this stock, holders will be in need of its namesake.  This is beginning to look overdone.  I am not feeling so bad for getting stopped out at $12.50 [...]

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Friday roundup

Yesterday saw the March rollover for Coffee (Arabica) on finspreads.com – the trade was set to ‘autorollover’ so the profit was banked on my open coffee trades of £1,299 and new trades opened in the May coffee (still 7pp). Up to 162,00 now so still holding for now. May see though – nice [...]

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