Gold Moves 14 Points When Bulls Forced to Liquidate
Gold Bulls were defending 1222s, but when buyers were unable to gain traction above the previous week’s low of 1226s, they were forced to liquidate, which sparked a stellar 14-point move.
Premium Playbook Delivers 14 Points in Gold
Our Premium analysis has been on fire in October! And I’m pleased to say that I’ve received amazing feedback from Premium Members who have certainly taken advantage of this recent run. Which brings me to Gold, which had a fantastic sell-off through our key level and came within 3 ticks of our final target!
Premium NQ 10.29.14
“Bulls want to defend pullbacks for a shot at upside expansion through 4058 and into 4118 and higher.” – NQ bulls defended a retest of 4043 in overnight trading and successfully squeezed the bears through 4058 and within 2 ticks of 4100. Look for further strength into 4118 and 4148 ahead, unless bears are able to defend 4100s and return price to the monthly pivot range at 4058.
Crude Oil Rejected Below 80
Crude Oil futures [NYM: CLZ14] has experienced steady selling pressure ever since price topped out at 95 late in September. Price has sold off 16 handles since the 95s, but appears to have finally found rejection below 80.
Pre-Mkt Report 10.23.14
The ES and NQ are holding within two-day ranges after Tuesday’s rally. Watch the boundaries of these ranges for potential expansion ahead, but look to fade the extremes of the range until acceptance outside the range is seen. Crude Oil appears headed for another round of selling ahead, especially if the bulls cannot reclaim 81.57.