sp'60min
Gold, monthly'2, fibs
Summary
re: Gold. The key low of $1072 is vulnerable at any time... once a break... there really isn't any support until the $1000 psy' level. After that... 900/875.. which looks viable next spring.
Further downside will have severe bearish implications for the related mining stocks.
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So.. we're set to open higher... and increasingly more are starting to realise we have very likely seen a key floor of sp'2019.
Yes, there will be little retraces along the way... but it looks VERY probable that we'll be back in the 2100s.... the only issue is whether new historic highs will be made in this wave.
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Overnight Asia action
Japan: +1.2% @ 19630, solid gains... the 20000s are due before end month.
China: -0.1% '@ 3604... earlier gains... fading into the close.
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Have a good Tuesday
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8.31am CPI data inline... m/m +0.2%., y/y +0.2%
Metals/equities mostly unchanged.
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