16th August 2013
GOLDLYTICS
Yesterday the market released a plethora of economic data and most were reasonable if not flat but nothing to indicate such a rally in this precious metal. Gold rallied from a low of 1326.00 to a high 1370.00 in a 4 hour trading period during yesterday as investors worldwide looked to protect their portfolios against the potential of the tapering monster.
The market is a weird beast at the best of times but a $44 move on the threat of tapering, really? It might have been the TIC data which indicated that $66.9B of foreign investment flowed out of the US economy. This figure gives us a snapshot of flows of capital in and out of the US and basically tells us that anyone who was long has closed out their positions and moved their money somewhere else. Cheaper dollars and bargain hunting above the critical 1300.00 level could also be cited
The market sits in a very precarious position as we have the 1400 resistance level in our sights. This is a full retracement level from the sell off in June and if market consensus is that tapering is bad, which it looks like, then we got to 1400.
I am a gold bear and had 1350.00 as resistance. The market has smashed through this level and now I have it as my first support. I have said before this market is predominately all traded on fundamentals. Investors are scared as they don’t feel the US is ready for tapering and they are hedging the potential negative fallout from the reduction in asset purchases by buying gold. We have seen this before. We also know the market falls much quicker than it rallies and any rally can easily be erased in half a trading sessions so beware.
黄金分析
昨天市场公布太多的经济数据,许多都是合理的,如果数据并不是持平,也不能表明贵金属会大幅增长。因全球交易者寻求保护他们的投资以避免可能的削减措施带来的影响,昨天黄金在四小时内从低点1326.00上涨至高点1370.00。
市场在最有利的情况下交易很大,但是因削减措施的威胁黄金移动44美元,这是真的吗?可能是因为TIC数据,数据表明有6690万美元的投资从美国经济中流出。这个数据只能让我们简单了解美国流进和流出的资金,但是基本上能告诉我们任何关闭其持有的多头仓位并将资金移到其他地方的交易者。较廉价的美元和投资者寻求在1300.00临界价位低价购买也是其原因。
市场处在非常危险的状态,因为阻力位在1400水平。这是从6月份的抛售来一个完整的回撤水平,如果市场一致认为削减措施是不利的,就如它看上去的那样,那么黄金就会到1400价位。
我交易黄金,那时阻力位在1350。市场已经突破了这个水平,现在我把它作为第一支撑位。我曾说过市场上大多数投资者是根据基本面来进行交易。投资者害怕,因为他们觉得美国对逐渐减少量化措施并未做好充分准备,他们通过购买黄金来对冲潜在的资产购买减少的消极影响。我们之前已经见过这种情况。我们也知道市场下跌速度比上涨更快,半个交易日的任何反弹可以轻易抹去,所以我们交易要谨慎。