Tuesday, February 21, 2012

Xau/Usd : Breaking lower

The rally is clearly corrective and appears to be finishing. A break of the trendline should follow and price will be in a downtrend for a while.Afbeelding toevoegen

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2 comments:

  1. AnonymousFebruary 21, 2012 at 11:59 AM

    Hi Jeremy!

    XAUUSD has killed all the weak bears in January and especially in February.
    It really turn my patience down.
    Your count looks good. Like usual.

    What is strange is the moment in time. In most of the cases, the important turns happen at the month end or right in the middle (not so often).
    The price pattern of oil (which looks bullish) and the potential bearish turn in EURUSD and XAUUSD would need a trigger. Watching out Middle East ...

    Best regards,

    Catalin

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  2. Jeremy DemunterFebruary 21, 2012 at 12:04 PM

    Hi Catalin,

    Yes you're correct about killing the weak bears and the trigger could simple be a technical one in the form of breaking the trendline.

    Friendly greetings,
    Jeremy

    ReplyDelete