Gold Market Report: 17th August 2010
The information contained in this report is predominantly a technical analysis of global markets and is for educational purposes only. It is not specific investment or trading advice, and should not be interpreted as such. By continuing to read this article you agree to the full terms and conditions found in our Terms of Use.
Summary:
Failed Moves create Strong Moves. In the latest Gold Market Report, we take a look at the recent test of support at 1150, with major support sitting just below at 1135. This has all the makings of a false breakdown. It looks like we have a great setup for a run at fresh highs. Price action & money flow of the gold stocks did not confirm the recent breakdown in futures prices which bottom on 27/7/07.
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