Gold’s Price on FOMC Day

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Pardon me if I am a little suspicious about gold’s ability to come out of today unscathed, price-wise.

au price1


A little wedge has bumped above a resistance zone.

au price2

Here’s a longer view.

1665 is an area of short term resistance, which includes the 200 day
SMA.  In fact there is a ton of moving average congestion from 1664 to
1689 (SMA’s 50 and 200, and EMA’s 50 and 200) by a daily chart.

au daily

Official people are going to make an official announcement about what
they are doing with official money at 2:15 today.  Not usually the best
backdrop for unofficial money.

Let’s see how it goes.  Maybe I am reading too much into it and the bully is going to stop bullying this time; and maybe not.

[edit] What is the meaning of this!?  Are they trying to ruin a perfectly good piece of paranoid commentary?

gold price

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