The Golden Technicals

We closed out our gold position after last week’s failed bounced and ugly action. The trade is crowded and nervous about China tightening and European debt worries.  The levels we’re watching  to reopen the position is $1395 on the upside and buying down at the 50% retracement of the 13-week high at $1317, which is also the 4-week low.   Barchart.com does some great technical analysis.

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2 Responses to The Golden Technicals

  1. Negron says:

    I have a problem with the overall premise of your article but I still think its really informative. I really like your other posts. Keep up the great work. If you can add more video and pictures can be much better. Because they help much clear understanding. 🙂 thanks Negron.

  2. macromon says:

    Thanks, Negron. We remain bullish on gold. It is a very difficult market to trade, however.

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