30 September 2011

Gold Daily and Silver Weekly Charts

There is intraday commentary on the derivatives markets with an emphasis on the Anglo-American dominance of the precious metals derivatives markets.

Gold caught a little bounce this afternoon and even closed rising despite a stronger dollar and a weak stock performance. But given the technical damage in the chart it was not significant.

It remains oversold and in a trading range as indicated on the chart. It really could go either way depending on whether their is a resumption of liquidation selling. But the fundamental trend and all the reasons for gold and silver to move higher is still in place. So we will most likely see a resumption of the bull market trend.

Wait for it.

The best I can say about this options expiration week, and the recent Night of the Long Knives, is that is over.

Have a pleasant weekend. Good night.