We quite frankly don’t understand this mumbo jumbo. Here is TA for Gold in March 2014. Gold had risen from 1200 to 1320. And our TA pundits were getting excited. They drew multiple lines, bands with multi color graphics. Drew some support. Some resistance.
And to the best of our understanding, made the case for a Continuing bull market - (not to be confused with the Continuing Story thread - tax deduction was part of the plot, by the way).
They did throw in multiple caveats. These TAs do that a lot. So they are NEVER wrong. Cramer vs Cramer all over again.
Re: The Technical Analysis Thread
Since then market promptly reversed direction. And bottomed at 1220 we believe.
While we haven't followed these jokers, something tells us they got excited on the downside just as Gold bottomed. Buy high, sell low appears to be the Continuing Story Thread.
Discuss.
Re: The Technical Analysis Thread
So gold is back at 1320. We now have the famous Bollinger - he of the Bollinger band fame - come out bullish for gold. Something about breakouts strength trend shampoos etc. Right on cue.
had copied the link. But mobile has mind of its own. For the ardent TA enthusiasts, have no fear. Will paste link at 11 AM universal time.