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Today's Gold Forecast 01/16/13


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#1 SemiBizz

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Posted 16 January 2013 - 03:54 PM

We have an upthrust going on here, but gold managed to close over the volume resistance, normally a bullish sign for gold. Gold closed at 1679 near the 1684 high after a low of just 1667. Volume was lighter per bearish upthrust, but this can still go higher from here resistance 1686, 1694, 1696, 1703, 1705.


tested the pivot again today and bounced again.

needs to hold 1675.
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#2 gismeu

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Posted 16 January 2013 - 08:01 PM

Thanks, and also, read today that there are voices in the republican party that do not want to prevent a rise in the debt ceiling. That to me is clearly inflationary. gis
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#3 fib_1618

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Posted 16 January 2013 - 08:16 PM

That to me is clearly inflationary.

If it were gold would already be rising.

Inflation doesn't cause gold prices to go up, it's gold prices going higher that imply inflationary expectations due to monetary excesses in the financial system.

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#4 gismeu

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Posted 16 January 2013 - 08:49 PM

I see, thanks fib gis
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#5 SemiBizz

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Posted 16 January 2013 - 11:29 PM

Yup and the market was supposed to crash if AAPL tanked... Still waiting to see that ship sail... :giveup:
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Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/VolumeDynamics  http://parler.com/Volumedynamics

#6 dougie

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Posted 17 January 2013 - 02:29 AM

you dont think we see a fall here?

Yup and the market was supposed to crash if AAPL tanked...

Still waiting to see that ship sail...

:giveup:



#7 SemiBizz

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Posted 17 January 2013 - 08:50 AM

Retesting that 1675 pivot on US economic news this morning... Volume noted.
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Volume is the only vote that matters... the ultimate sentiment poll.

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#8 dasein

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Posted 17 January 2013 - 10:27 AM

posted at tt - what was that ricochet this AM in gold???
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#9 SemiBizz

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Posted 17 January 2013 - 10:45 AM

posted at tt - what was that ricochet this AM in gold???



First they got the 335K unemployment news and that was bad for QE, then at 10 am they got the Philthy Fed news which was good for QE... I guess.

To me it's just a big consolidation. 1675.
Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/VolumeDynamics  http://parler.com/Volumedynamics