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Re: Gold GCJ12 ??/Lee *PIC*
In Response To: Re: Gold GCJ12 ??/Wayne/Trades ()

Here is DX again. See the sharp bounce off the 200ema I mentioned. It does have a "thing" with the 200ema going back years. And DX does tend to trash inverse markets on the way up and 'allow' rallies on pullbacks. The financial news media will always come up with a 'story' to explain it all away but DX movement is usually the reason markets move. Gold just felt the brunt of the DX rally that's all. They don't always trade inverse to each other mind you. Usually, but not always. Price is still below the 20ema which tends to serve as resistance so DX is not out of the woods yet. And the 20ema is below the 50ema also. And Gold is still holding the 1700 level it established back in August and keeps coming back to it over and over again. Gold also has a 'thing' for the 1700 price level. It hasn't clearly broken down yet either and price is presently bouncing back off that support level. Price would have to close well below 1705 and hold below to suggest a downtrend.

Messages In This Thread

Re: Gold GCJ12 ??/Wayne/Trades
Re: Gold GCJ12 ??/Lee *PIC*
Re: Gold GCJ12 ??/Trades
Re: Gold GCJ12 ??Lee *PIC*