200-Day Under Attack...Again

All pain and no gain.

34
Thu, May 2, 2019 - 10:49am

Well, here we are again. After the perceived "hawkish shift" of Chief Goon Powell yesterday, Comex gold has once again been driven down to its 200-day moving average. Will this key technical level hold as support once more or will it be smashed with tomorrow's BLSBS?

That's the key question at this point. I don't know how many times over the years that I've seen price placed right upon the 200-day ahead of some key news item or event. And here we are again. However, there is one CRITICAL difference at this point in time...the Large Specs in Comex gold are only very slightly net...

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