Users: Alpha Dart Monkey: 2015-03-06-Gold 5-min.png

2015-03-06-Gold 5-min.png

Update on those 2 trendlines in gold from this morning.j 
Zooming in with the 5-minute view. 

Weak bounce off of the uptrend line initially around 5:00 AM EST. 
Sliced right through it on the 2nd attempt at 8:30 with the jobs data. 

Then, slight pause at the downtrend line beginning at 9:00. 
Gets through there at 9:15. 
Bounces back up for a retest from beneath at 9:50. Then, falls away. 

Nothing to buy until we see a bounce with strength.  
Would be even better if it retakes the lower line and holds above. 
Otherwise....lower is the game here short-term.

Comments

Mr.FlakesMr.Flakes
/gc has been taken down on just about every Fed and key data release for a while. It's been prepping for this move down with large chunks being dropped in thin markets are a while. Same old shit. 3/6/15
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