Gold Market Wire
News, analysis and commentary for gold traders and investors
Gold Market Update
Gold Gets Acclimatised
December 28, 2022 - (Gold Market Wire) - Gold is settling into the new 'neighbourhood' above $1800, and every day we close above is encouragement for a longer rally. Our channel, slight tweaked, shows the parameters:
Yesterday's price spike, to us, is the market simply stretching out. We are hanging on to the infamous $1803 line, which, if we close above it for the week, will make us a bit more bullish than we are. Those who took the jump yesterday to sell half of their length and then re-load on the trip down, proved they know how to take a profit.
We reman bullish, with solid length on. Any spike above 1830, and will will shed some more length with a view to buying back lower.