“Drink up … this week could be worse!”
In the annals of gold trading history, I think last week’s trading action is one
of the worst weeks I’ve ever seen, and quite literally I’ve been around for
them all! … from the usual horseshit we got to put up with day in day out
that comes with the territory, add to that moves in the dark and then moves
off reports … all told more than half the week’s range coming in literal
seconds via the NFP report.
This upcoming week sees the never ending “Brexit” drama take center stage
[again], and it leads one to the inevitable conclusion that a basket of retarded
kittens could do a better job than the Pols in Britain … I have no idea how it
plays out, and of course they don’t either, but I’m quite sure it will ruffle
some gold feathers along the way and give scumbag bullion dealers their
necessary cover for wider bid/offer spreads and MOAR! “slippage candy”,
cuz you know, “duh market conditions, duh”! bullshit they trot out everytime
gold farts.
Directly below, this weeks updated charts.
click on any chart to enlarge
Gold’s range picking up a little, but it needs a lot more to get it to a place
that’s ideal [$15+]… as you can see from the 20 Day Range MA, Asia &
Europe are expanding and New York sits and doesn’t do Mr. Jack Squat
… if it hadn’t been for Friday’s NFP idiocy, New York’s range would have
decreased this week. One day we get New York ranges of $4, and the next it’s
$12+ … this kind of inconsistency is maddening, cuz it prevents positions due
to a lack of intraday volatility. Lately, it’s been a hallmark of gold, and
especially silver.
Onto the upcoming week mi amigos … until tomorrow
… Onward & Upward!!
-vegas
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