GOLD 0.51% $1,391.7 gold futures

gold, page-802

  1. 7,702 Posts.
    lightbulb Created with Sketch. 11
    Hi @binwood @AverageJoe
    Certainly AJ has more experience with Forex (which is what this is, of course)...and I think the behavior of currencies is different to stocks. Clearly gold price is rising for this reason (and AUD falling, but I think gold price is more subsumes the impact of rising AUD.........JMO...)
    In the end we only have Support / Resistance. I drew these Support lines some time ago...its a bit of a range....probably still valid.
    The technical indicators all look bearish. The DMI, the rising purple line at bottom is starting to show emergence of a trend (downwards), as indicated by the -ve (brown) line being above the +ve (blue line). The other two are also bearish. DXY broke the 50EMA weeks ago (blue line - which also happens to be turning down). So both leading and lagging indicators are bearish.
    I don't think Joe uses these kind of indicators.
    I think I might have started a separate thread on the DXY a week or two ago? It's clearly of major importance to us.
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.