Gold, Oil & Indices (Equity & Bond Indices)

1135.7 and moving south is gold. Check out that 1150 in your rear-view mirror: it is getting smaller and smaller...

So is trash euro and gbp 1.400 and 1.5200, respectively.

BTW I'm neither short nor long. I'm scratching my head especially about that Gold and Aussie strength right now...

have a look at the 3hour (180min) chart of spot gold. see the candle formation on Feb 1.

it is very similar now - after some range bound movement - we have had 3 green candles of 180min. then a retracement which we may be entering now. but max pullback then was limited to $10 - so basis that we could go back to $1128 which is also close to the sigma 1 level - which is where one needs to take a decision - re-enter long or exit shorts or continue to go short ?

i sense Ashraf's earlier call of a possible retracement on the Euro upto 1.3850 could also play out at the same time, this will further strengthen gold.

i sense most of the forum is short - so i hope for all of you that it does not play out like Feb 1 - as we could be at 1150+ in the next couple of days.

Good luck all.

I sure hope you're right pipped off. ive been holding and my average cost is 1110.

If you pull up daily gold chart and silver chart, they shoot up to the moon today. Maybe it's the typical topping process, as ashraf mentioned earier.....