Pardon me if I am a little suspicious about gold’s ability to come out of today unscathed, price-wise.
A little wedge has bumped above a resistance zone.
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.
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?
