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  • Gold and Silver Signal Bearish Continuation with Flag Breakouts

    From forexminute.com

    The daily chart shows gold is a persistent downtrend even with Novembers rally from 1130 to 1207. 1) The 200-, 100-, and 50-day SMAs are sloping down and are in bearish alignment. 2) Price tested the 50-day SMA and respected it as resistance, holding below all of mentioned SMAs. 3) The RSI came held under 60 and is breaking below 40, showing persistence of bearish momentum. 4) The market has been making lower highs and lower lows, staying below a pair of key falling trendlines. 5) At the end of last week, price fell sharply to break below November’s flag or pennant consolidation pattern, signaling bearish ... (full story)

Swiss gold proposal being rejected also moved some potential demand for gold. But with silver and oil also falling, this was mostly a commodity slide/USD strength story. - Fan
Sell gold rally to 1093.00. Tq
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brent crude oil gap closed
some big player pushing price up everytime in the same area, big bullish candle today...again
someone is not happy with cheap gold,,,pushing up baby....llol
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Quoting asmadi78
Sell gold rally to 1093.00. Tq
Good luck.
Another diversion news......wrong directions....as usual....bigboys did this and make different ways....
  •  Guest
  • | IP XX.XXX.14.124
One thing though Fan you need to look at and the reason you may be wrong footed on this call (at least in terms of the immediate days ahead) is that conditions in the crucial weekly interval are stressed. If you look at weekly RSI register for Silver its a bit obvious that it is oversold at this point and the same goes for Gold though far less obvious. However, it is difficult to see us getting to the 900 handle on the current weekly RSI register for Gold and a pullback some distance up is justifiable at this point. Same for most risk really.

The Crow (-_-)

BTW: A speedy rentry back in the pennant formation range negates its technical implications and one might in fact argue that the holdup factor was the Swiss vote and once out of the way provided the needed impetus for the metals to rise strongly to more technically suitable amplitude for longer term falling.
still going, 80 dollar bullish candle, I see this long time ago
Fan, how much do you get paid for writing such an article? Trading is a tough job. I am thinking about switching from trading to writing. Any website hiring analyst?
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  • Story Stats
  • Posted: Dec 1, 2014 7:56am
  • Submitted by:
     ForexMinute
    Category: Technical Analysis
    Comments: 10  /  Views: 5,050