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Gold & Yen's Perfect Desert Storm
Yen strength still eclipsing USD rebounds during risk aversion. while gold's ascent is better gauged against currencies other than the US dollar.
raj, probbly not. today's candle looks bearish.
Ashraf
with little bit of aggression I bought one crude just near $76.90.Is it really fruitful at this time of Dollar surge?
Regards,
Rajib.
great call in usd/jpy...
thanks.
karan
hi ashraf,
This is what you wrote below in your IMT. Do you mean that it might still retreat below 1070?
Gold still fails to break above 1123-25 resistance, which will be needed to prevent retreat below 1070.
thanks,
karan
Ashraf
As i mentioned that i was holding crude at $73.60 level and today I booked that one at $77. Is it possible for crude to touch again above $83 in near term?Bacause todays closing is really encouraging stuff which is around $76.90 now.As far the chart is concern the closing is really a good one for the bullish side but i am bit afraid to establish some long again.Really appreciate your view.
Regards,
Rajib.
my dear just kiddin
as long as eurusd trend is in favor of euro expect a range trading for GLD capped at 1025-30
In the video the same evening, I think you talked of commodities falling and also mentioned the 1115 resistance.
In IMT of Febuary 2, 2010 08:30 GMT, you mentioned: "Watch gold's resistance at 1123". That's a bit of a change in less than 24 hours.
I can see that oil and the stock market have rallied, but am unclear as to what is the actual driver here. (Oil seems particularly strong today).
Perhaps "surge" was an incorrect word here (for Gold), but certainly it has demonstrated renewed strength.
So would I be correct to say that Gold is still in the downtrend that started early January, and which is probably capped by the trend line at around 1123?. We have hit 1118 today, so is there now a good question as to whether that resistance will actually hold?