GOLD, strong selling pressure

mario-urlic-forex-gold-04-10

The sellers are strong after they have touched daily MA100 yesterday and broke the psihical 1300 support today. The selling pressure continued and they have reached 1292.42 low for now, but the bearish momentum is still strong. As you can see, at first they have broke the support trend line and daily MA100, 1300 latter on and another support trendline. As I see it 1290/92 is strong support now, but as I wrote before, the sellers could take over the precious metal here below those levels and build another pressure. Let’s see how and will the buyers react at all? There is weekly MA200 at 1282, could that be the target?

mario-urlic-forex-gold-m1

Sellers attack on the support 1290/92, M1 chart!

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14 comments

  • Look at weekly chart. Is possible the fall will be stopped by the 200MA. And trendline from december still resist.

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    • I wrote that when the sellers have attacked the support at 1290 Cristi. But, this looks very bad at 1282 as well. Can’t bounce to 23,6 fibo of todays fall. Isn’t over or?

      Btw. This was nice warning during the night. http://news.forexlive.com/!/boa-ml-say-watch-out-for-stop-losses-in-gold-under-1300-20161004

      Liked by 1 person

      • true, no rebound at all.

        Liked by 2 people

        • Chaos 🙂

          Liked by 1 person

          • 1274 low. as you have said, 1282 and wekly MA200 is not the bottom. thanks Mario

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          • Don’t worry guys. Is fears of october. Majority of great crisis is produced in october month.

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            • A total mess, take a look at the euro pairs after rumour about QE taper from ECB, suorce Bloomberg. Gold, like there is no end today!?

              Liked by 1 person

  • Šta je ovo bilo?

    Liked by 1 person

    • Nema nekog posebnog razloga, osim što su probili 1300 podršku i daily MA100.

      There is no any concrete reason, except they have broke 1300 support and daily MA100 as well today.

      Like

  • True, 1282 and weekly MA200 was the target. Wow

    Liked by 1 person

    • As daily MA100 was broken, the seeling pressure just accelarate. Exactly, woow.

      Like

  • hey “SNIPER”,
    how are you??
    i took short last friday at 1325 when market jumped into 100-200sma resistance at 1327-1329 but closed my trade at 1307 today just few hrs before this crash came……..my luck………..

    Like

    • That was a great short my friend, with so many MA’s 100 and 200 at 1327 as you said. Too bad you didn’t stay all the way, but nice trade anyway. Congratulations.

      Like

      • thanks
        now a ays after looking you charts and putting sma’s and trendline on chart entry’s have been easy but my exit is where i am confused …………….

        Liked by 1 person

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