Readers encouraged to give opinions in comments. All in fun.
Title references Spot Gold. Bitter stackers can stop reading here. - Bon Scott
- Which way will gold break first?
- Will it close above $1310 or below $1306 today
- Or in between? (Pays 2 to 1)
Given several factors, gold is winding up for a decent move by day's end.
On top of today's events which include Fed- speak and Trump-speak we are headed into 2 Religious holidays that will affect liquidity.
Rosh Hashanah, the Jewish New Year begins Wednesday evening and is a 2 day event. The following week is Yom Kippur.
We think that whoever has not squared up by end of day will run into potential liquidity gaps exacerbated by whatever comes out of the Fed mouthpieces.
Click chart for updates
Amd the hourly chart says a break and hourly settle above $1310 or below $1306 should generate an $8.00 move quickly. Whether that is sustained is not part of the alert.
We imagine the more loose ends are pinning their hopes on some statement by Yellen, the more exaggerated the move.
"Violently unchanged" would hurt the most people today we think.
Good luck
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