MalteseBull said:
Gold up at the moment, looking better
i wouldnt be in such a hurry for it to go up
more consolidation would be nice, i think it would be healthy for it to fall to around 600-620, and then the next leg will take us to the next resistance of 850 very fast
i tell u what happened in the commodities sell-off
some of the majors who had their longs open for many years and are sitting on significant gains, sold a little, and then the speculators who got on board recently thinking: “Yeh that chart of copper and zinc are looking pretty aight, i reckon it mite go a bit more” and went for a bit of a gamble, bought, as soon as it dipped a little, they all dumped, ignorant of the fundamentals, and hence we have the sell off. The metals closed near to their highs becoz the smart money are getting back on…
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