The rate of gold in USD return from $1145 per ounce for the third time in two days early Friday, slipping in what one dealer called "volatile trading" as silver also retreated."We are riding a small Elliot Wave higher," said Thursday technical analysis from Scotia Mocatta, the bullion bank.
"Our thoughts are that we are in a small wave 4 consolidation of a move that started down at 1075 in December.
We would like an eventual test to levels above 1161, but will stop-loss the long gold position under 1113."
No comments:
Post a Comment