GOLD for 13/02/2020

#France #Germany Our first analysis this year (link) covered #Gold, proposing movement to 1,602 dollars. At the time of writing, the metal was trading at 1,552, thus the proposal fairly significant. Literally within the week, the metal successfully oozed upward, hitting and slightly exceeding our target level. Crucially, the price did not actually close a session anywhere near our 1,602, therefore opening the doors of suspicion for the immediate future.

One good thing which came out of the movement to 1,602 was fairly basic and simple. It proved we’ve been watching the correct trend, suggesting mapping the price against the Blue trend line (dates back to 2011) has been the correct approach. But in light of a barrage of reports from China, we’re more than a little surprised the price of the metal has not shot upward, thanks to Gold (once) being regarded as a natural safe haven.

Hopefully it’s the case the current media game of CoronaVirus Bingo, trying to produce headlines with how many people “could” die, is being ignored by a world, already punch drunk from ongoing headlines produced by journalists who read something some bloke wrote on Twitter! Today, the Metro in London managed 45 million as their contribution to a climate of fear.

The immediate scenario with Gold is somewhat surprising. Weakness now below 1,555 (Red) threatens reversal to an initial 1,530 dollars. If broken, our secondary calculation is at 1,500, along with a fair chance of a bounce. The surprise against these numbers? It will return the price of the metal below the long term downtrend!

Alternately, if the metal now finds itself trading above just 1,600, strength to 1,645 now looks possible with secondary, if bettered, coming in at 1,685 dollars.

We’re pretty hesitant, suspecting the price shall go up, surprised it has not already done so. Our in-house mantra remains, “if it ain’t goin’ up, it’s goin’ down,” with the result the near term Red uptrend is probably worth keeping an eye on.

Hey, chart goes here

FUTURES

Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

Prior

10:14:24PM

BRENT

56.31

               

Success

10:16:56PM

GOLD

1566.49

               

10:18:44PM

FTSE

7545.03

               

‘cess

10:27:40PM

FRANCE

6114

6059

6042.5

6018

6085

6117

6123.5

6175

6067

Success

10:30:27PM

GERMANY

13784

13639

13585

13518

13728

13786

13802

13866

13693

Success

10:32:03PM

US500

3380.52

               

‘cess

10:34:22PM

DOW

29541.1

               

‘cess

10:42:01PM

NASDAQ

9611.12

               

10:43:37PM

JAPAN

23969

               

Shambles

 

 

12/02/2020 FTSE Closed at 7534 points. Change of 0.47%. Total value traded through LSE was: £ 5,119,461,685 a change of -10.2%

11/02/2020 FTSE Closed at 7499 points. Change of 0.71%. Total value traded through LSE was: £ 5,701,269,309 a change of 0.17%

10/02/2020 FTSE Closed at 7446 points. Change of -0.27%. Total value traded through LSE was: £ 5,691,847,581 a change of -12.91%

7/02/2020 FTSE Closed at 7466 points. Change of -0.51%. Total value traded through LSE was: £ 6,535,596,145 a change of 5.4%

6/02/2020 FTSE Closed at 7504 points. Change of 0.29%. Total value traded through LSE was: £ 6,200,545,970 a change of -22.21%

5/02/2020 FTSE Closed at 7482 points. Change of 0.58%. Total value traded through LSE was: £ 7,970,542,064 a change of 19.14%

4/02/2020 FTSE Closed at 7439 points. Change of 1.54%. Total value traded through LSE was: £ 6,690,102,462 a change of 18.21%

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