GREY:ALXDF - Post by User
Post by
goldopportunityon Apr 23, 2017 9:01pm
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Post# 26155364
Fwiw........
Fwiw........Few comments about french election and market reaction:
- Le pen did indeed come in a close 2nd, about 2% behind macron
- Dow and s&p futures up substantially - market thinks macron will win may 7 round
- gold clawing its way back after initial sell-off
- Dollar index gapped down to under 200dma, above that level now
Bottom-line:
- a lot can happen before 2nd round in french election -- too soon to count le pen out
- although there's no law that says gold and usd can't run in same direction (in this case down), I'm surprised at gold's reaction considering dx under 200dma intra-day and losing almost 1%
- I suspect the comms will be covering and the specs are buying -- 2 powerful and competing forces
attempting to buy the same product.....gold!
- wouldn't surprise me if gap-ups or gap-downs from this evening are tested again this week
- I also expect all gaps to be filled -- when this happens we'll get a better sense of market direction
So we'll see what happens. Jmvho.
goldopp