Thursday, December 11, 2014

So does gold give us a retrace, or something more?

Gold chart:

So I guess it's quite okay if gold retraces down to $1203-$1208 or so.

Which I guess is possible if the broad market continues throwing up today, though I don't know how you can beat an Arms index of >3.

Looks like a lot of positions have to get shuffled around for whatever the next broad move is going to be... like, is oil done? Is Japan's market going to continue going nowhere? Has the US dollar finished its advance? All these things might affect gold.

I'll be watching GLD:UDN again today.

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