GREY:ALXDF - Post by User
Post by
goldopportunityon Feb 20, 2018 6:35pm
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Post# 27590672
Fwiw.........
Fwiw.........Alxdf closed at usd .075 = cdn .0946 (boc 1.2622 close)
Alxdf closed down a bit. Outside low down by a titch, inside high and close. 2nd day of higher stairstep volume. The mm idiots are still capping the sp with that 290K at the usd .08 best ask. Strip that out and you only have 35K on the market depth ask up to .189.
Azx traded in a one-cent range, Inside day all around. And we show another doji on the chart. Higher stairstep volume. Cdn .09 appears to be the sweet spot for the pros to accumulate while they "play" timid sheeple. Like its otc cousin, azx has relatively low ask #s after you take away the surface ask.
Both alxdf and azx absorbed any selling pressure brought on by the big drop in the pog. Imo, the increased volume was accumulation volume. Smart money is taking advantage of the dip in gold to snap up cheap shares. Btw, both stox are relatively well bid.
Gold and the gold indices took it on the chin. The dow was down 1%. Dollar index was up. And the 10-year treasury yield was up.
Bottom-line:
So what happens tomorrow? I suspect we'll again pretty much stay within today's perimeter if there is no nr. Might see a test of today's low depending on what gold does in the am. But as the day progresses, I think we could see a distinct upward bias. I'm thinking we could even see a few chunks of the surface/best ask taken out. We'll see.
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Gold may test its next support level at around $1320. If this is breached, gold has very strong support at $1310. The dow may test today's low intra-day. If this is breached, the next major support level would be around 24500. The greenback looks likely to test next resistance at around 90. And the 10-yr yield looks like it will close lower tomorrow.
So we'll see what happens. You know the drill --- stand your ground, folks. Jmvho.
goldopp