So people don't think I'm just bullish in all circumstances on every timeframe here is a copy of the message just posted on the "other gold thread":
Just to recap my 240min GC chart drawn in late March:
After the almost perfect catch of the gold swoon in early July, price has powered up through the fork to touch the WL just under 1600.
It does look overbought on many indicators from 240min down and with opex approaching there are reasons to see a pullback. However indicators can stay overbought and markets are stressed so one could see price continue North. If price gets through the WL and then finds support above it the rally could continue. Either way I feel it pays to be cautious at the moment.....
http://www.screencast.com/t/Fzbj6UKg58MX
beeb
Just to recap my 240min GC chart drawn in late March:
After the almost perfect catch of the gold swoon in early July, price has powered up through the fork to touch the WL just under 1600.
It does look overbought on many indicators from 240min down and with opex approaching there are reasons to see a pullback. However indicators can stay overbought and markets are stressed so one could see price continue North. If price gets through the WL and then finds support above it the rally could continue. Either way I feel it pays to be cautious at the moment.....
http://www.screencast.com/t/Fzbj6UKg58MX
beeb