Subscribe to NFTRH for actionable technical analysis, market ratio analysis, sentiment analysis, macro fundamental awareness... and whatever else is required to stay on the right side of the markets
Wednesday, January 19, 2011
Gold This Morning: No... Hu's on First --Jonathan
Modest overnight trade struggling to reach and coming within ticks of rising above yesterday's high; we are truly in a Sisyphean struggle to break the bonds of the present trading stalemate. Let's go the facts and numbers as they are still on our side. GSR after tipping its hat last week, provoking agonizing Cassandras to definitively announce the end is near, has eased back to ~46.90. Open interest is creeping higher but leaves plenty of room for new money. RSI(14) still presents a come hither stare at ~46.70. Furthermore our cheaper(by the ounce) and more frolicsome fellow metals as in silver and palladium are banging on the door to see if we can come out and play. Visual of the day: My friends and partners in Tunis told me that former president and first lady Ben Ali were seen running with their cohorts to their waiting escape plane dragging bags with bars of gold. It's nice to see that some people still save the old-fashioned way. http://www.biiwii.blogspot.com