Resistance 1287.50 - 1296 - Above that confirms 1361 - 1369 may be 1472 also - In the early week of Feb GLD's violation of 1250 vs low @ 1240.6 makes me skeptical about the bulls.. Even Silver was not able to hold itself or trade above 20.30 though Gold made a 3months High.
The Chinese will be back on 15th Feb after the holidays, as we all know china is the big boy of Gold reserves - The fed will manipulate gold prices before the Chinese are back else DXY will be beaten to death - and that's a bad bad overall for the Fed..
Natural course / fundamentals indicates dollar south Gold, Silver north
But as of Now Gold has already started showing weakness - she isn't energetic- some of hedge funds closed gold shorts above 1272 - But once again, I noticed Unusual volume selling came @ 1288 - 1292 based on Tape Reading insist me to think about Gold Bulls In a False Pattern..
As per (07 Feb 2014) Alert ES_F has Filled the Gap 1803 - 1816 while 1718 Gap filling imminent the high probable scenario is SPX will drop from 1816 to Fill 1718 - 1712.. While this has been the case most of us know that Crude & SPX trades proportionally in times & this may be one of such tape or Trading Pattern if we see the previous weeks price action
Crude Oil Yesterdays daily trend indicated evening star formation - 100.82 Being the Resistance oil prices are vulnerable to 93 - 90.8 2- 89.96 however above 100.88 its 101.76 - 102.70
Gold trading @ 1291.60
Silver @ 20.29
Wtic @ 100.58
SPX - 1813
SPX - 1813
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