Gold Commentary

Disclaimer: I'm not an analyst and I am wholly unqualified to give any financial or investment advice whatsoever. This is just a place for me to put my notes accessible from anywhere and for a few friends to discuss.

Gold remains largely unchanged, a very shaky downward fulcrum completed and then failed on the 1/2 point intraday chart. Don't pay too much attention to patterns there though, as mainly this chart is used for entry timing.

1/2 point intraday

The drop close to 1410 has registered a down on my intermediate/long chart. The long chart has not moved but shows negative, my sentiment is still that we could see 1400 challenged. That said, it would be nice to see gold stable for a while and just range between 1405-1425 and solidify the position, so it's further moves would be more definitive.

5 point chart registers a downward move