Thursday, 4 July 2013

Pennant in gold looks vulnerable tonight + Nikkei: are you sure it's a bear market? 2013-07-05 0300 BST

The pennant in gold looks like it might fail, though the lower line has been broken before. Gold is not strong against the blue line of resistance that is like a hardd brick wall against upward price movement in the last 3 days.

Outcome: totally unknown!

However, fascinating to watch: Dollar was up, both on the USDX and against the Swiss Franc on 4th July and Euro was down, USD trading early morning on 5th July near the high, Euro near the low:

Meanwhile, in Japan, as the Yen gets trashed versus the US dollar, the Nikkei has shown some strength:


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