Remember, we're still in tax-loss season.....so anything can happen these next few days, in all markets. I suspect that's why we saw today's smackdown in gold, and it could continue on the downside for another couple of days. Be mindful then that there's still an open up gap on the u.s. chart to us$0.135 that may or may not be filled at this time. Could be some good buying ops in the next few sessions imo. We'll see what happens.
Also we'll hear what the fed has to say on wednesday afternoon. The big question, I believe, will be the interest rate direction. Or put another way, does the fed really think the economy is strong enough to be placed in a sustained rate-increase environment? So basically the fed's hand is being called. Mr. chairman, do we have a real recovery going forward or will you punt the interest-rate ball further down the field? Regardless, I think there will be at least a relief santa claus rally but probably not before the dow either touches or breaks thru its 200dma. Jmvho.
goldopportunity