Gold - Let´s make history again
What if we are in a similar situation from the 2014´s rally ? Let me explain …
(Look weekly/daily graph below)
Week 27th Jan we had the red candle (quite same period as this one), maybe not than bearish that the recent one, but anyway engulfing one and what happened the week after... 3-4 dollars down and up to test the top of the previous week (20MA). We had a miss on Manufacturing PMI and NFP.
One week after, we had an explosive move of $50. We had Yellen Speech and a miss on Retail Sales.
Three more weeks of consolidation upwards with FOMC minutes, GDP miss, NFP good and CPI at 1.6% in the middle and ... boom !! another explosive move of $50 at the last week (10th March) to reach 1380 from 1242 (previous DCL). Not sure what happened that week because Interest Rate decision was on 19th March, the week after, where gold did start declining even though they didn´t increase rates.
But it was a monumental rally from 1185 (31 December) to 1385 on 14th March.
Weekly (NOW)
Weekly (2014)
Daily (2014)
Anybody on this train ?
(Look weekly/daily graph below)
Week 27th Jan we had the red candle (quite same period as this one), maybe not than bearish that the recent one, but anyway engulfing one and what happened the week after... 3-4 dollars down and up to test the top of the previous week (20MA). We had a miss on Manufacturing PMI and NFP.
One week after, we had an explosive move of $50. We had Yellen Speech and a miss on Retail Sales.
Three more weeks of consolidation upwards with FOMC minutes, GDP miss, NFP good and CPI at 1.6% in the middle and ... boom !! another explosive move of $50 at the last week (10th March) to reach 1380 from 1242 (previous DCL). Not sure what happened that week because Interest Rate decision was on 19th March, the week after, where gold did start declining even though they didn´t increase rates.
But it was a monumental rally from 1185 (31 December) to 1385 on 14th March.
Weekly (NOW)
Weekly (2014)
Daily (2014)
Anybody on this train ?