In the tempest of a fast moving market; not everyone is happy.
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Gold Initiates Bearish Continuation; Silver Sits Tight
Gold prices (xau/usd) started the week bullish, making new higher lows, and highs. It is trading above its 200-, 100-, and 50-period SMAs in the 4H chart, a sign of bullish bias in this time-frame, and for October in general. However gold is heading into the weekend with early signs of a bearish continuation. After marking a high on the month at 1255.23, gold retreated. It got into the 10/23 session breaking below a rising speedline from about 1205, 10/7 low. It was a strong break as seen in the 4H chart, and price settled in the cluster of SMAs, hovering above the convergence of the 200-, and 100-period SMAs. ... (full story)
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- Oct 23, 2014 11:59pm Oct 23, 2014 11:59pm
- kiwis
- | Joined Apr 2013 | Status: Observation mode... | 71 Comments | Online Now
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- Oct 24, 2014 1:08am Oct 24, 2014 1:08am
- Agent Orange
- | Joined Jul 2013 | Status: Member | 29 Comments
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