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I'm seeing gold support at 1180 area, not picked up on your chart. Another hit here could see a nice long opportunity, but conversely, a breakdown could see it test your green channel. Personally, I think 1180 will hold, but we'll see.
Hello Bouraq...thanks for the advice of a couple weeks ago on the gdx chart...it certainly was not a bullish outcome as the previous 4 were.As I said though in a prebious message that I was out of gold stocks if gold broke 1280....which I did.Thanks again...the dollar is just too strong.
I'm glad it worked out well for you. This support I posted may hold and take us above 1280 again but the green channel should be strong to take it down below 1200 eventually.
I'm seeing gold support at 1180 area, not picked up on your chart. Another hit here could see a nice long opportunity, but conversely, a breakdown could see it test your green channel. Personally, I think 1180 will hold, but we'll see.
ReplyDeleteHello Bouraq...thanks for the advice of a couple weeks ago on the gdx chart...it certainly was not a bullish outcome as the previous 4 were.As I said though in a prebious message that I was out of gold stocks if gold broke 1280....which I did.Thanks again...the dollar is just too strong.
ReplyDeleteI'm glad it worked out well for you. This support I posted may hold and take us above 1280 again but the green channel should be strong to take it down below 1200 eventually.
ReplyDeleteIt needs to take out 1220 convincingly Peter. The green channel may take it to 1150 or even below that eventually.
ReplyDeleteNice, U should chart DAX also.
ReplyDeletethanks for your excellent charts Bouraq, esp GOLD!
ReplyDelete