Gold Daily Video, 27 January, 2016

[Sive Morten]

Good morning,

Gold almost has reached our short-term targets, so logical expectation right now is some retracement down:





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.

 

[Brett Reynolds]

I took profit yesterday @ 1121 from my position taken last thursday at 1098 area. 1120 is the 50% from the move down from 15th Oct 2015..right! Gold likes the 61.8 so could well move higher to 11.35 or even 1150 but with FOMC later today and the hitting of Sive's targets then I thought wise to take profits now. If you notice that 200 Day SMA is also now close above the 50% area. We could get retracment right back down to 1100 area today before any move higher!