Gold daily video, December 11, 2017

[Sive Morten]

Good morning,

Gold market right now stands at oversold, but after technical relief it should proceed downside action to 1230:





The technical portion of Sive's analysis owes a great deal to Joe DiNapoli's methods, and uses a number of Joe's proprietary indicators. Please note that Sive's analysis is his own view of the market and is not endorsed by Joe DiNapoli or any related companies.

 

[Rabul]

It's interesting how gold price will react on probable USD index retracement.
It seems to me if dxy is going to previous lows then gold should go substantially above the broken support located at 1265. There's low probability that index and gold go both down.

 

[izzy_63]

I really like the understanding of your analysis, thanks for the video, Sive.