Intraday Market Thoughts

Archived IMT (2009.04.17)

by Ashraf Laidi
Apr 17, 2009 19:12

Gold posts its second daily loss, touching as low as $865 (lowest since Jan 23) and is $12 away from its 200-day MA. This week's ECB data showed the falling gold, confirming our suspicions of central bank selling of the metal, aimed at stabilzing level of weakening USD. Gold likely to hold above its 200-day MA, but this may fail in event that Dow and Dow +26%, FTSE+19% & Nikkei-+28% from March lows. NASDAQ +33% and DAX +30%.


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