Archive for the ‘Gold’ Tag

Gold Reversion to the Mean price rise.

GLD representing gold
is currently:

–Greater than 2 Standard Deviations below it’s 200 EMA
–Greater than 20% below it’s 200 SMA.

Gold Reversion to the mean

These are historical extremes
and similar locations to the 2008 stretched bottoms.

Gold appears due for a
reversion to the mean
[at least to its 200 MA]
price rise.

Tho note,
In 2008, after returning to it’s 200 MA
gold plunged again below its prior low.

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Gold
This is hard to believe.
Clearly JPM is dumping their shorts

But despite two hi vol drives down:
7,500 contracts on Monday, Apr 30th.
14,000 lotsĀ  Tuesday May 8th
the continued attempt has been unsuccessful
in breaking the Dec Lo,
and buying all the stops below it,
on the May 15 down move or today.
And today after approaching it
a long tailed hammer reversal.

Either they are luring in more longs
to build up the stops
or there are veeery strong interested buyers.

at this level.