Gold & Silverbeta

December 11, 2012
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The definitive group for discussing all things related to the precious metals

A resourceful community for those who hold, plan to purchase, or are helplessly infatuated with gold & silver

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davefairtex
By davefairtex on Wed, Mar 1, 2017 - 3:09am

PM Daily Market Commentary - 2/28/2017

Gold fell -4.60 to 1248.80 on moderate volume, while silver climbed +0.05 to 18.36 on moderate volume also.

Gold tried rallying today, but the rally failed, and gold sold off steadily into the close. Candle print today was a two-candle swing high, which the code rates as a 57% chance of forming a top. That's not a good sign. Next step is a close below the 9 EMA, which is currently at 1245. Intraday, even when the dollar was relatively weak, the rally in gold was a bit feeble; it was when the buck rebounded that gold sold off.

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