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Gold Future ($GC_F) Bear Theme Intact; Risk to 1168

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Gold Future ($GC_F) Bear Theme Intact; Risk to 1168

April 2015 Contract

A still more bearish tone into latter February, with a better push to a new down trend low at 1190 and despite a bounce, capped by modest resistance at 1210 and by our better resistance at 1223/25.

The previous push below chart/ psychological/ retrace support at 1206/1200/1198 leaves the threat still lower for month-end and into March.

For Today: The risk is now back down through 1190 for 1186, maybe 1179.

February Downside Risks: We see a more negative tone with the bearish threat through 1186/79 and to 1168, the 2015 low.

To view today's full Gold report with screencasts, click here
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Daily Gold Future Chart

b2ap3_thumbnail_gold1_20150224-064331_1.png

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Steve Miley is The Market Chartist and has over two decades of financial market experience with him. He spent 2009-2012 as a Director of the FX Technical Analysis Research Strategy team at Credit Suisse and was previously at Merrill Lynch for 15 years; 10 years as a technical analyst, 5 years in Fixed Income sales.


He was 2013 winner of the Technical Analyst Magazine Award for Best Independent Fixed Income Research & Strategy, Runner Up for the same award in 2014 and was the winner of Best FX Research & Strategy 2012 (at Credit Suisse).


Steve is a Member of the Society of Technical Analysts (MSTA) and holds a Masters Degree in Politics, Philosophy & Economics from Lincoln College, Oxford University.


Steve has covered all major asset classes including Rates & Credit, G10 & EM currencies, Equity Indices & Sectors and Commodities and has strong relationships across the institutional financial trading spectrum, including Central Banks, Real Money accounts, Hedge Funds and other Global Corporates.

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