GOLD : XAUUSD Update
Continues to grind higher on a weakening dollar. It's a nice
trade if you get the push and pull here...loads of bears who
haven't looked at the dollar (muppets), they are the guys
going to keep buying us dinner. The dollar is just completing a
another failed counter-rally and this has pulled gold back into
the buy zone again around the blue line on the chart for the
next push higher to 1290. Then let it go again but only to
1284 and then buy again for bear-mangling surge to 1305
where it becomes a big short again with stop 3 points higher.
Continues to grind higher on a weakening dollar. It's a nice
trade if you get the push and pull here...loads of bears who
haven't looked at the dollar (muppets), they are the guys
going to keep buying us dinner. The dollar is just completing a
another failed counter-rally and this has pulled gold back into
the buy zone again around the blue line on the chart for the
next push higher to 1290. Then let it go again but only to
1284 and then buy again for bear-mangling surge to 1305
where it becomes a big short again with stop 3 points higher.