GOLD Daily Video, January 09, 2014

[Sive Morten]

Good morning,
Gold market has formed nothing to clarify further action. Now neither upward reversal nor downward continuation has solid technical foundation:






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]

My candle pattern is again different than yours on this Gold chart. The spike down on 1st of January or New Yrs eve reached 1220.50 only on my chart!? Yesterday Gold reached support area of 1217 as per your original analysis and now looks to bounce up from here. So the taking out of that low from New Yrs eve is relevant..but I consider more of a 'wash & rinse' before continuation back to 1250 area!?