Gold

im so peeved off lol, closed all last week and then it dump another 40 pips down... grrrrrr.

agree Remo time to go long soon imo i like 1515....

silver looks good for a long to sub >26

Lovely chart on Gold at the moment, approaching a strong technical level imo.

My alerts went off this morning - approaching both a key horizontal aswell as oblique channel support.
Lowest support level is ~1522 ranging to ~1534

The one risk I see is the 200sma on the weekly chart is currently at 1434 and rising. It isn't due to hit these current levels until June/July time. So there is a chance taht price could break below key levels to test this area. Another possibility could be Gold price ranges sideways until a 200sma test.

I have an order in for 1525 with a 15 pip stop

cyprus to sell off it's gold...

GS came out with a sell note ...hmmmmmmm

It occurred to me when I read about Cyprus selling that it would be a good time to buy!

Any views anyone??

GS the contrarian indicator ?

The only time id consider going long on gold is once it has a 123 low formation .
Its been in a sideways market since September 2011. Its been in a down trend since October 2012
The 123 low currently will be at 1590. So above this in the next few days would be bullish.
Until then there is risk of gold going lower to test the important level at 1522. Id go long there for a first attempt trade only and this means short term trading.


with regards to cyprus, How much gold have they got???? They are a very small country so i would not expect them to have a big impact. I could be wrong
Im not a fundamental person so it would be interesting view from someone who is.