The base of the past twenty months at 1522 is now gone. The twelve year trend as described by the 175 week moving average at 1493 has been broken. In addition the market has shot lower with a sustained momentum indicating this move is not a minor correction but a new trend.
My targets are 1312 and 1222. Intra-day a bounce towards 1480 should attract fresh selling.
I don’t think so! The water is freezing and it’s blowing a gale.
Up until Thursday last week the euro looked fairly appalling. Seven out of nine down weeks is not a good tally for euro optimist. I was happy, as I am not one.
However, Thursday and Friday have…Continue
It has been a while since gold has lost over $50.00 in a week. But it has this week.
The outlook is deteriorating, as the market heads to the base of its range for the past twenty months at 1522. Not far below here, the major foundation for the bull run since 2002, comes in at 1491. This level is pivotal, it marks the 110 week moving average. A safety rope that…Continue