Gold calls.Long term -medium term and intraday calls in gold is here !.

[sujithsstorock]

Someone check out copper for a surprise ! .

 

[sujithsstorock]

Exit all shorts. Gold can give a 8-10 $ rally. Can do that buy call if willing.

 

[Wideboy]

My charts show 901 as res.
If price stays below expect to see 893, 886, 879

Enjoy the ride

 

[sujithsstorock]

Yes. Above 902 $ is the safe zone to enter long positions.

 

[sujithsstorock]

Exit all shorts. Gold can give a 8-10 $ rally. Can do that buy call if willing.

current price is 906.5. A rally from 898 to 907 thus 9 $ rally. Enjoy

 

[sujithsstorock]

Today had a good day. Shorted at 914 $ and covered at 907 . Again shorted at 908 covered at 902.Shorted at 904 and covered at 897. 20$ profit.
Loss of 3.5$. So over all 16.5$ profit 4 me. Crude i don't trade.But met all targets and soaring up.

 

[yvij]

Wow you boys are all doing well!

I'm flying of to the great US of A tomorrow so will be in touch.

I hope gold holds above 900 as cannot hold current position if it drops further.

 

[CrashGuard]

whats the news on inventory? I suppose it was favorable?

 

[Mr.J-Arthur]

I earned over 5% trading the mini-s&p 500

..and it all occurred in less than 3 hours! Left the desk and went out for a bike ride into the city.
What a great day.

Hey, will oil rally tomorrow possibly? USD is looking strong so I don't really see a rally..but who knows.

 

[sujithsstorock]

Gold still holding above 915 $. Tomorrow inventory expected so gold will be directionless until or unless it breaks below 914 $.Last hope for bulls is at 907 $.

Tomorrow 925 $ is possible.If this price comes after inventory,then extended target goes till 930 $.And if its before inventory,then that might be the last high before 900 $.

Crude
it has broken major trendline but got back in.Confirmation required if its a bear trap or real break out.Picture would be clear after tomorrow's inventory.

inventory came.Before inventory gold fell till 892 $ and crude till 120.9 $.

After inventory gold current price 912 $ and crude 126.7 $.

It was a bear trap. But its an indication of forthcoming things.Crude can show 130 $ and above before 120 $ gets broken below.
Gold hold resistances at 914 , 918,922,928 and 931 $.
Crude have intermediate small resistance at 127.2 $

after this up run,its going down for this summer.

 

[sujithsstorock]

Sell gold at 911-912 $ stoploss 914.2 $. Target 909-908-906-903 break of 902 gives more.

 

[sujithsstorock]

Risky sell crude at 126.65 $. Stoploss 127.3 $ target 126-125.5-124.8-124 $

 

[CrashGuard]

seems like gold price is going up

 

[sujithsstorock]

Can test 918 $. Its looking positive.But might crash after US opening.

 

[CrashGuard]

What ECB interest rate hike means? I heard ECB is planning to raise rates again.

 

[sujithsstorock]

Its england central bank. I hope i gave correct abbreviation.They are just like US fed.

 

[welshandy1]

close - its the European Central Bank, which sets general monetary policy for all the European member states. Their main interest is in heading off inflation - hence the rate rise.

 

[CrashGuard]

close - its the European Central Bank, which sets general monetary policy for all the European member states. Their main interest is in heading off inflation - hence the rate rise.

That mean price of gold will go up or down?

 

[Wideboy]

Ok I think we have bottomed now.
Price bounced perfectly off the 38% fib extension of last weeks move @ 893.

Price action now I would ideally like to see a drop to around 902 (maybe will only get as far as 905) and then I'll be buying looking for 917 and 925 initially.

 

[sujithsstorock]

Theory says, if interest rate is hiked by ECB , then euro gets strengthened and gold eventually rises.

Last time they raised interest rates (which was expected). As rates were hiked,pog should have gone up,but fell by 10 $ in one minute. So anything can go.Logic says 'up'. But always expect the unexpected