{"id":2463,"date":"2009-06-12T10:42:45","date_gmt":"2009-06-12T15:42:45","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=2463"},"modified":"2009-06-12T10:42:45","modified_gmt":"2009-06-12T15:42:45","slug":"gold-leads-the-way-down","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/06\/12\/gold-leads-the-way-down\/","title":{"rendered":"Gold Leads the Way Down"},"content":{"rendered":"<p><strong>By Fast Brokers<\/strong> &#8211; Gold broke beneath the neckline today, or our previous 2nd tier uptrend line, and is collapsing down towards our new 2nd tier uptrend line.\u00a0 Though the EUR\/USD\u2019s neckline is intact, gold\u2019s fundamental move could be warning us of a sizable appreciation in the Dollar coupled with a pullback in U.S. equities and crude due to present positive correlations.\u00a0 There is always the possibility of a head-fake.\u00a0 However, it does appear today\u2019s movement in gold is a fundamental one.\u00a0 On an encouraging note, the pullback isn\u2019t registering substantial volume, meaning our new 2nd tier uptrend line may hold for the time being should volume continue to decline.\u00a0 We were warning of near-term downward pressure in gold, and it finally hit.\u00a0 Fortunately for bulls, gold has built up several safety nets over the first half of the year during past periods of consolidation.\u00a0 Therefore, it will take more than today\u2019s pullback to counter the medium-term uptrend in place.<\/p>\n<p>Present Price: $938.10\/oz<\/p>\n<p>Resistances: $939.82\/oz, $941.94\/oz, $945.67\/oz, $949.34\/oz, $953.31\/oz<\/p>\n<p>Supports: $935.06\/oz, $931.41\/oz, $927.40\/oz, $923.96\/oz, $920.95\/oz<\/p>\n<p>Psychological: $950\/oz, $900\/oz<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/6_12gold.gif\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/6_12gold.gif\" alt=\"\" width=\"595\" height=\"500\" \/><\/a><\/p>\n<p><em><strong>Market Commentary<\/strong><\/em> provided by <a href=\"http:\/\/www.fastbrokers.com\/index.php?PL080\" target=\"_blank\"><span style=\"text-decoration: underline;\"><strong>Fast Brokers<\/strong><\/span><\/a>.<\/p>\n<p><strong>Disclaimer:<\/strong> FastBrokers\u2019 market commentary is provided for information purposes only and under no circumstances should be regardedneither as an investment advice nor as a solicitation or an offer to sell\/buy any financial product. FastBrokers assumes no responsibility or liability from gains or losses incurred by the information herein contained.<\/p>\n<p><strong>Risk Disclosure:<\/strong> There is a substantial risk of loss in trading futures and foreign exchange. Please carefully review all risk disclosure documents before opening an account as these financial instruments are not appropriate for all investors.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Fast Brokers &#8211; Gold broke beneath the neckline today, or our previous 2nd tier uptrend line, and is collapsing down towards our new 2nd tier uptrend line.\u00a0 Though the EUR\/USD\u2019s neckline is intact, gold\u2019s fundamental move could be warning us of a sizable appreciation in the Dollar coupled with a pullback in U.S. equities &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2009\/06\/12\/gold-leads-the-way-down\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Gold Leads the Way Down&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-2463","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/2463","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=2463"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/2463\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=2463"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=2463"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=2463"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}