Gold Daily. This is the way I'd typically approach it, always looking for the trading channel. Combine that with support and I'd propose ~1259 as the higher probability outcome here. That's on a daily close, so Louky's 1251 can easily be tagged. Maybe a couple of big red candles into the low by the looks of the STO. Should t' be long I'd say. If the channel holds up it will mean buying has to kick in over the 50DMA. Not a bad sign.
Little bounce off that first possible level of support, I didn't mark it. Not so long ago it was a given nothing would happen that close to the money. There is more strength here. STO is on a possible cross up if buying kicks in today, doubt it will be enough still thinking 1269 is best case.
Had a big dump in on of my favs today (NST:ASX) it was priced for perfection off the back of a new mine they've had for ~90 days. Reporting was OK but not perfect... but hey 90 fricken days isn't much time to sort a mine! Anyway... ~8% dump off the news, pegged back to ~4% in a few hours. Buyers are in the wings for goldies these days!
1278 bottom of inner box, that's why it doesnt just breakdown. All you have to do is watch for support/resistance in this range. So below 1287 bias is down, but it doesnt just collapse, inside inner box
Never changes, 1300 don't matter. Need support on 1296 for higher targets. Then 1305 pivot for confirmation
The chief executives from some of the biggest U.S. banks are expected to testify before the House Financial Services committee in March, two sources told CNBC.
J.P Morgan Chase CEO Jamie Dimon, Goldman Sachs' David Solomon and Wells Fargo's Tim Sloan are among the bank executives expected to testify, the sources said. Bank of America's Brian Moynihan and Morgan Stanley's James Gorman are also expected to testify.
The CEOs would be testifying in front of Rep. Maxine Waters, D-Calif., who became the committee's chair earlier this month. Waters recently met with Solomon and Dimon in private, people with direct knowledge of the matter have told CNBC.
One of the bank executives expected at the hearing told CNBC that Waters said "she wanted to get all the CEOs in to talk about how they could better support the economy."
One source told CNBC the testimony would likely be confrontational.
Waters has been a critic of the big banks throughout her career. Last year, she pledged to roll back deregulation efforts on the financial industry that were pushed through by the Trump administration and the Republican party.
Fed basically said they are going to turn the spigots back on to save the stock market when needed. Which is bullish gold and silver. Only problem is as of right now, it's just talk. No policy change yet.
The late afternoon power through 1300 here was a Fuk Yoo to the pseudo/psych resistance at 1300, imo. Interested to see how we come out of the gate early next week - if there is any momentum whatsoever then $1350s easily on the table. 2c...