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mohsinqureshii

Gold Bullish or Bearish

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probably 1650/48 zone yansen..upside may be capped at 1.671/5 today. if 1684 is breached, then look for 1732...a breaking below the 1630 level would send gold down to 1613 level. if it does not stop there, then 1561 is the next target...

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Gold momentum looking good for 1640.00 daily support after having cleared 1660.00 level. Obsidian, thank you very much for your comments on the XAUUSD. Will wait for 1630.00 to enter a short order.

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I believe gold is in her sideways period and should be left alone for at (the very) least this week. But all depends on one's time frame.

 

I Also want to sell it about 1660 or above...;-)

:)

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My XAU/USD levels today:

 

 

Support 1 1655

 

Resistance 1 1668

 

Support 2 1651

 

Resistance 2 1672

 

 

Will look for opportunity to sell at either resistance levels.

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My XAUUSD levels today:

 

 

Support 1 1645

 

Resistance 1 1661

 

Support 2 1639

 

Resistance 2 1667

 

Will look for opportunity to sell at either resistance levels.

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Today I expect gold consolidating between 1665 and 1640. short term indicators are pointing south atm and slipping below 1650 would confirm that

 

this range is still valid...it gold stays above 1655, going to test 1665 again

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More like down, down and away.

 

It has been down and it might be trying to change from down to up. I would consider that as a possibility. But no one ever gets a free ride, so it will attempt to go back down and weed out the weak longs if there are any. So it may once again look like it is going down but the move will only be traders stealing the longs from weaker players. How far down it goes will depend upon how may weak longs have entered or will enter.

 

Fundamentally, gold is likely to go up since the sounds of stimulus are in the media again. In light of the EZ issues and its impact on the US, the fed may preemptively attempt to provide support to support what appears to be a stumbling economy. Stimulus is a more responsible word than printing money.

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That might be so.

 

But what I am hearing is that, other than buying mortgage packed securities, there is nothing further the fed can do that it hasn't already done.

 

So other than flight to safety, which is a very good reason, I don't see a reason for Gold to go higher.

 

Commodities collapsing so no real inflation. Deflation sure is a possiblity.

 

The Euro collapsing which strengthens the dollar, swissie and yen. But not really Gold.

 

Just my :2c:

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That might be so.

 

But what I am hearing is that, other than buying mortgage packed securities, there is nothing further the fed can do that it hasn't already done.

 

So other than flight to safety, which is a very good reason, I don't see a reason for Gold to go higher.

 

Commodities collapsing so no real inflation. Deflation sure is a possiblity.

 

The Euro collapsing which strengthens the dollar, swissie and yen. But not really Gold.

 

Just my :2c:

 

The fed can do more of the same. Not saying it will work, but it tends to force money into the market. They fear deflation. At the same time, Value is being eroded and gold is supposed to be a better store of value.

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The fed can do more of the same. Not saying it will work, but it tends to force money into the market. They fear deflation. At the same time, Value is being eroded and gold is supposed to be a better store of value.

 

More of what?

 

Rates are basically zero. They can't keep loading up bonds on the balance sheet. What credibility they have left would be shot. That doesn't leave anything more than what I said: buy other types of debt such as mortgage backed securities.

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More of what?

 

Rates are basically zero. They can't keep loading up bonds on the balance sheet. What credibility they have left would be shot. That doesn't leave anything more than what I said: buy other types of debt such as mortgage backed securities.

 

They can destroy their credibility more by buying more treasuries.

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