Gold Bullish or Bearish

[Obsidian 10]

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...

[yansen 10]

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.

[Obsidian 10]

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

[mohsinqureshii 10]

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

 

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

[kuokam 10]

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...;-)

[yansen 10]

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.

[yansen 10]

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.

[Obsidian 10]

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

[yansen 10]

XAUUSD is holding steady around $1650 this morning but off early highs in Asia of $1656.50 after a weaker than expected Chinese PMI

[SunTrader 10]

Not no more. At a multi-week low.

[Obsidian 10]

closing below 1640 or above 1664 is what I am looking for...

[Obsidian 10]

stay above the clouds and 1710 next

[jimbo320 10]

Watch for long side liquidation/ short sellers blow off and 1500 for long term accumulation trade.

[Obsidian 10]

we may see some consolidation between 1707 and 1610 in April. if it goes below 1.600, 1562 would be the next stop...imvho

[jimbo320 10]

Hit the target. Gave a very strong bounce of long term accumulation trade.

[jimbo320 10]

Up and away with gold.

[SunTrader 10]

More like down, down and away.

[MightyMouse 12]

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.

[SunTrader 10]

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

[MightyMouse 12]

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

 

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.

[SunTrader 10]

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.

[MightyMouse 12]

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.

[Obsidian 10]

Bernanke will be testifying on Thursday, let's hear what he will say...

I think only more qe can push gold higher...time and charts will tell:cool:

[jimbo320 10]

Gold will go up whatever the idiots do, their paper money is worthless, which is what they want.

[Obsidian 10]

Gold will go up whatever the idiots do, their paper money is worthless, which is what they want.

 

The stratosphere is the limit?