News, analysis and commentary for gold traders and investors

"Be Right - Sit Tight"

Jesse Livermore
RUSSIA AMASSING TROOPS ON UKRAINIAN BORDER after UKRAINE VOWS TO TAKE CRIMEA
RUSSIA AMASSING TROOPS ON UKRAINIAN BORDER after UKRAINE VOWS TO TAKE CRIMEA
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Gold Market Wire

News, analysis and commentary for gold traders and investors

Gold Market Update

Gold Recovers - but Stays in the Channel

June 16, 2020 - (Gold Market Wire) - Gold has staged a decent comeback this European a.m., but the downtrending channel remains intact. While there is underlying strength,  still the march of time points lower.

death by a thousand cuts?

There is no mystery about the chart. In fact it is quite simple. Every time we have touched the top of the channel we backed off and continued the slow journey lower. As it stands, there is little to alter that outlook, until the spell of the upper boundary can be broken and the pattern reversed.

The fx markets are providing little direction with the dollar essentially unchanged. Unless an exogenous event stirs the market, we should respect the channel and follow its dictates.

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