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TFC Commodity Trading Forum

Re: Gold
In Response To: Re: Gold ()

GCM3 failed to find support at 1363 and moved down to test 1335 and found support at 1336.3, then it went up as posted but above 1387 to as high as 1399.9. where found resistance and now is on its way down towards 1321 objective, The switch was at 1393 so above the switch the 1321 got void but GCM3 move down again below the switch turning the objective 1321 back on. 15 minutes ago GC tested 1358 as support. Last time GC tested that support it took 8 hrs to overcome it. So, we may be here for some time. If GC is very bearish could overcome that sooner, below 1358 there is 1350 and 1336. 1336 was Sunday's night session low, next is 1321. Failure to find support at 1321 will open the door for 1297 and possibly lower.

Right now the switch is down at 1373. If GCM3 moves above the switch, will void the above.

GCM3 now trading 1364.4

Just an opinion here. the market always has the last word and in due time will show me the way.

g