May 22nd, 2012 14:39:36 GMT

Gold behaving nicely

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Gold is behaving nicely after the sharp correcton lower overnight. The price’s move lower found support buyers against the converged 100 and 200 hour MA (Three’s a Crowd situation.  Look for a move away) and the 38.2% of the rally … Continue reading

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May 22nd, 2012 09:00:29 GMT

Gold’s melting….

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Down a round $15 from when i fell out of bed this morning with  recent lows around 1576.  Sharp falls in Crude oil aren’t helping the cause with WTI  down about 80 cents following the OECD growth forecasts Gold sitting … Continue reading

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May 18th, 2012 14:46:47 GMT

Gold continues climb higher

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The flight to safety continues for gold as it broke above trend line and the 200 hour MA (green line in the chart above). The next target to surpass is the 50% retrcement of the move down from the May … Continue reading

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May 17th, 2012 16:26:46 GMT

Gold reaches upside cluster resistance target

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Gold has continued it’s move higher today and has gotten closer to the key cluster resistance area at the 1581-82 area (high reached 1579.90 see http://www.forexlive.com/blog/2012/05/17/gold-buyers-back-tests-underside-of-broken-trend-line/)   Early sellers have come in against the level. I would expects stops on a move … Continue reading

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May 17th, 2012 02:09:35 GMT

Around the markets

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Shares are mixed in Asia with most Bourses within 0.25% of their closing levels from yesterday. Gold was up by 0.75% to $1548 but is now starting to ease back off those levels. Oil is trading back above $93/bbl. Any chance … Continue reading

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