GOLD Daily Video, August 02, 2013

[Sive Morten]

Good morning,
in short-term perspective we probably will get a bounce up, but on the next week price has all chances to proceed with downward action:





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.

 

[JXXXX]

Cusp of day ambush

I was fortunate to be watching the market as it closed and re-opened last night and so witnessed the bearish ambush. Right on the cusp of the two days trading, when the market had been sleeping for a few hours, the bears unleashed some high volume shorts, the bulls were caught napping and didn't stand a chance. It was obvious that was going to be some significant slide so I picked up some good pip action and closed early for the week well in pocket.
Can't help but feel sorry for all the small physical investors though, who can;t benefit from two way price action, so I hope to see the bears back in their cave soon!

have a great week end!