October 15, 2012

Gold Update #2 - Oct 15

The Bottom line: it looks like the futures market is attempting to flush out the longs that bought near the recent highs.Thus, Scott told us yesterday to watch for a dip to around 1737. 

As of this writing, Gold is trading at 1736.29. Scott's analysis has proven time and again to be the most objective we've come across, precisely because he analyzes the auction itself and doesn't use "magical" analysis tools.

 If you trade futures, you'll especially want to see what Scott has to say about the market and consider a subscription to his trading service. 
http://scottpluschau.blogspot.com/2012/10/gold-near-term-h-is-trying-to-flush-out.html

(Click on chart to expand)


There is a post on gold from this weekend here: http://scottpluschau.blogspot.com/2012/10/gold-is-at-cross-road-what-to-look-for.html

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