Archive for 23/06/2010

Not looking so good

The pullback happened but so far there has been no sharp bounce back. It’s possible gold will head down into end of month and then move up in early July. Tough call.

Equities are in trouble again and gold might see safe haven movement quite soon, so I’m not giving up yet on a continuing move up. But so far this week it’s languishing. Around 1230 is the level where a shallow retracement would be expected to end, and it is there now. So we need to see what happens today and by end of week.

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