Welcome to the TFC Commodity Trading Forum.
Please feel welcome to join in on these informative ongoing discussions about trading futures and commodities.

The Trading Forum is intended for the open discussion of commodities trading. The management of this Forum does not agree or disagree with the ideas exchanged, and does not exert editorial control over the message posted herein. Read and post at your own risk. The risk of loss in trading or commodities can be substantial. We discourage the use of this Forum to promote trading that is acknowledged to be risky. Please note: many links from the Forum lead to pages on other web sites. We cannot take responsibility for nor endorse the information presented on those sites.

TFC Commodity Trading Forum

August Gold/Bumping Resistance *PIC*

Aug Gold has been bouncing off its Dec/11 low support for weeks and has now ran up to the 3 month downtrendline which is also the April low breakdown point resistance. Only clearing $1616 that holds would suggest this downtrend is over and a reversal back up has begun. Note the RSI 21 bumping up against the 50 line resistance as well. Historically the June/July time frame sees a major low point of the year and can even double bottom again in August. Meanwhile resistance is resistance and "IF" Gold is about to be the early bird this year and run up from here it must clear and hold above $1616 with the August contract.

Messages In This Thread

August Gold/Bumping Resistance *PIC*
Re: August Gold/Bumping Resistance
Re: August Gold/Bumping Resistance *PIC*