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 Opening

Waiting for Gold's New Pattern

July 2, 2020 - (Gold Market Wire) - Gold is sitting down on the trend line this European a.m. as the market seeks a new direction. Right now the holding of the trend line is indicating that the bulls still have a slight advantage, but the creation of a new pattern demands some patience. The uptrend still holds firm and the market needs to collect itself after a fairly dramatic end to the quarter.

the uptrend line has held - - but that also looks like a topping formation

This is going to be an interesting resolution; the battle between the major overhead resistance and the uptrend. Right now its a toss up, and we await a clearer indication. Yesterday's rally into the close gave us what we were looking for, namely, a rally to sell out the last of the length.

30 minute chart showed the exit opening.

Now its time to sit back and wait for the market to develop. There is little point in seeking action for the trading opportunity... that's just boredom taking over. Patience is the order of the day, today, barring some serious market developments.

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