Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality

Iraq Dinar/News is a popular topic among many topics this board offers. You must log in to see and participate in our Dinar sections.

Position yourself for free after watching the video on eCommerce at www.nenosplace.ipronetwork.com

Neno

I can be reached by phone or text 7am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.
Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2017


Gold Update February 16th, 2016

Share
avatar
Lobo
Moderator
Moderator

Posts : 24959
Thanked : 1208
Join date : 2013-01-12

Gold Update February 16th, 2016

Post by Lobo on Tue 16 Feb 2016, 2:43 pm



Gold fell back to 1191 and then rallied back to the 1216 area. Gold appears to be setting up to extend the counter-trend reaction into the first week of March. With back-to-back Directional Changes for the weeks of 02/08 and 02/15, the typical outcome is one of a choppy trend. Last week we got the high and this week may produce the reaction low. If this proves to be the case, then we should extend the rally into the week of the 29th. Overall, volatility should begin to rise over the next three weeks. So stay nimble and objective. If we rally into the end of the month, then we can still see a test of the 1309 area.
Using our What-If models, we suspect that a new high during the week of 02/29 should bring in a Weekly Bearish up to the 1170 area. If that is elected, then gold has most likely prolonged the agony and we will then look to the next Benchmark. None of the price action so far has negated the potential to penetrate the $1,000 level for a final low.
https://www.armstrongeconomics.com/markets-by-sector/precious-metals/gold/gold-update-february-16th-2016/

    Current date/time is Sun 25 Jun 2017, 3:45 pm