Gold Bounces Off Key Technical Support On Massive Volume

Tuesday, November 14, 2017
By Paul Martin

by Tyler Durden
ZeroHedge.com
Nov 14, 2017

The last 48 hours has been quite a chaotic one in precious metals markets with massive volumes of ‘paper’ gold flushed in and out of the futures markets. This morning – shortly after the US open failed to spark a panic-bid in stocks – gold futures bounced off their 200-day moving average on huge volume (around $4.5 billion notional) breaking above the 100DMA…

The last day or so has seen a plunge below the 100DMA (on 33,000 contracts – around $4.2 billion notional), then another flush to the 200DMA as Europe opened overnight (on 22,000 contracts – around $2.8 billion notional) and then shortly after the US equity open, a 35,000 contract ($4.5 billion notional) rip higher off the critical moving average…

The Rest…HERE

Leave a Reply

Join the Revolution - Enter Any Donation Amount Below to Revolution Radio!