The Phaserl


Gold: Key Price Points To Watch On Monday

from Gold Silver Worlds:

Friday’s dirge was dispiriting, but we can take a patient view nonetheless because the weakness merely touched the 1191.60 downside target I’d broached here without demolishing it. The decline left us with the prospect of a marginally lower low on Monday at 1186.90, calculated by shifting the b and c coordinates down a peg (to B2/C2). You could bottom-fish there with a stop-loss as tight as four ticks. Alternatively, the futures would need to close above 1208.40, the midpoint pivot of the large ABC pattern shown, to suggest bulls are about to roll.

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4 comments to Gold: Key Price Points To Watch On Monday

  • tomche

    I am sorry for being so critical, but I am just at my freekin whits end with all this “technical analysis” nonsense. I mean, Please explain to me again why is it that “technicals” mean sh*t in manipulated markets? Go back to school and learn something.

  • I totally understand “tomche” where you are coming from.

  • mac

    Technicals are the Fed painting all the Charts. Then the bozos try to glean messages from Fed Chart painting, which makes them “victims” of the Fed painting.

    It means technicians do what the Fed group want them to do!

    VICTIMS! R U , too?

  • dan

    what is needed is a committee of ALL the gold bugs mouth pieces too ALL say the same thing…The price of gold and silver in USD is manipulated by the US Governemnt via the fed and JP Morgan, Goldman Sachs….and as to why etc. and they need to stop with the ‘charts’ as if they actually mean something….because anyone ‘touting the charts’ is complicent with the continuing manipulation of metals..imho

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