Darren Heathcote
Darren Heathcote
break duration looking sustain test
If we sustain this break for the duration of the day, then I think we will be looking to test $495 again.
broken looks next target yesterday
There's some profit-taking now, but look at where we are. It's broken $520, the target we had yesterday ... looks like $525 is the next target.
moment mood
At the moment the mood is still jubilant.
bit lacking
At the moment, I think we're lacking a little bit of direction.
bit
We are still in an upward trend. The fundamentals are still in place but I think we are having a bit of a shake-out.
drivers either particular push
It doesn't look like we've got any particular drivers to push it either down or much higher.
below break immediate looking target
We are now looking to target about $534,50, with $539 probably the resistance. But I still think we need to see a break below $525 to see an immediate reversal in the trend.
happen london looks near targeting
Certainly, it looks like we are targeting $600 in the near term. It may happen in London overnight.
funds looking might money opinion somewhat speculate spike
Obviously, the funds will be looking to speculate and make some money out of this. But I am still of the opinion that the spike might be somewhat short-lived.
people quiet
People will be eyeing $450 as the target. It may not be today. It will be very quiet in the States.
dizzy given looking oil support
It's dizzy high, and we're looking at a very overbought market. We're looking for a correction. It has to come at some point. However, given where oil is, it may well give some support on the downside.
break dollar gold recent saw seen though
We've seen gold break the correlation with the dollar in recent times. We saw gold strengthening even though the U.S. dollar was strengthening.
bit break broken buy confidence fact helping people sustained
The fact that it hasn't broken through, sustained a break through $535 is probably helping people to find a bit more confidence to buy it back again.
bit momentum positive push
We're still in a bit of consolidation...I think everything is still pretty good, still positive for gold. It doesn't really have any momentum to push it down.