In this report I cover the early market action from London on Monday, January 8th, 2018. I also go over the technical outlook for the gold and bitcoin prices.
Gold is certainly looking strong, although my feeling is that we will have a correction back down to the 1300 level, making 1300 support rather than resistance, then we will resume a strong upward spike into late January before a more aggressive correction at around the 1380 level.
Coinmarketcap changed the way they calculate prices, throwing out the crazy over pumped Korean markets and that caused an apparent crash and that caused a genuine loss of confidence in the market and a price drop. Wish I had some money to buy more.
Gold is certainly looking strong, although my feeling is that we will have a correction back down to the 1300 level, making 1300 support rather than resistance, then we will resume a strong upward spike into late January before a more aggressive correction at around the 1380 level.
You could be right.
Thank You, good post.
@csmaybo You are welcome.
Great updating as usual! Can always rely on well founded info on your channel, thanks
Thanks @nzfxtrader!
Which charting platform do you use?
I use barchart.com, IG index and sometimes investing.com's charts.
I can recommend Tradingview.com - great platform that's used by a lot of traders.
Central Banks and the Fed love debt!
They push it until we all go over the cliff.
The only question is "WHEN"?
Wow, interesting.
As I leave this comment, crypto market is crashing, like all healthy markets should.
Coinmarketcap changed the way they calculate prices, throwing out the crazy over pumped Korean markets and that caused an apparent crash and that caused a genuine loss of confidence in the market and a price drop. Wish I had some money to buy more.
The markets are correcting ... buyers possibly coming in again
Quite a run in gold since Dec. 12th or so....what was the catalyst? I wonder what set it off.