For gold bugs, it’s a question of patience and more patience as the precious metal continues to remain rangebound at the same level with each approach and test of resistance around the $1830 per ounce level firmly rejected. This rejection occurred several times in December, and as we start a new trading year this pattern is being repeated once more. The level is defined by the red dashed line of the accumulation and distribution indicator on the daily chart and sits at $1828 per ounce, and as I have written many times before, the line thickens according to the number of times a level has been touched and held, and as can be seen on the daily chart for gold, this level is once again taking on increased significance. But of course, even if it is breached, there is no guarantee it will hold as we saw in November where the price rise promised much before the metal ran into heavy selling and weakness in a volatile trend higher with the resulting price waterfall accelerating the move back to the VPOC which remains firmly anchored at $1788 per ounce and denoted with the yellow dashed line. So in the short term patience is required for gold bulls and until the $1830 level is breached and holds we are unlikely to see any sustained upside momentum, and even then it might be short-lived, but as always such a move will be confirmed with volume and price.
On a more positive note is the fact we have a low volume node on the VPOC between $1830 and $1850 per ounce with relatively light volume on the VPOC histogram thereafter, so progress higher will not require a huge effort to break away, which when it comes it may be another volatile move as before.
By Anna Coulling
Anna its the game these criminals are playing by rigging it, it can’t go above this mark, it will show how F the dollar is.
So we much attack Russia, and please don’t kid yourself they will get F, Russia and China are tied by the hip, the Americans and nato will get slaughtered, its called distraction, from the money currency getting F, Look to newtube on vaccine crime investigation moving forward in the uk its 11 minutes long?
Any message on silver