Thu, Oct 28, 2021
A A A
Welcome vaishu
RSS

Commodities Briefing - Categorized | Bullion/Gold, Commentaries, Trends more

It looks like gold is going to fall further

Posted on 05 October 2016

In recent weeks, we have been looking for a breakdown in the JPY. If you read this post from two weeks ago, we outlined equities and bonds which may be the catalyst. Today, we have seen gold break a major support of $1300, which technically is a“bearish wedge” pattern.
The first target from the December 2015 lows to July 2016 lows comes in just above $1250. So in other words, gold has some distance to fall from current levels. If that is the case, the JPY and gold correlation (gold and USD/JPY inverse correlation) is quite strong as well…………………………………….Full Article: Source


 Article link

This post was written by:

VRS - who has written 48800 posts on Opalesque Commodities Briefing.


Contact the author

Comments are closed.

banner
banner
banner
banner
October 2021
S M T W T F S
« Nov    
 12
3456789
10111213141516
17181920212223
24252627282930
31