Gold Market Recap: 26 September 2011
The Gold market seemed to exhaust its aggressive downward pattern today after seeing a massive early slide and a noted recovery attempt.

While some players suggested that concerns from global slowing from the EuroZone were reduced by hopes of a large bailout fund that was an entirely fresh approach and it is surprising that many markets bought into that line of thinking.

The Dec Gold contract did spend a large amount of time waffling around both sides of the 1,600 level but with a range today in excess of 130 oz, the short term trend might still be up for grabs.

With the US equity markets spending a moderate amount of time in the Green Monday the weakening of the Chicago Fed national activity index was probably discounted as evidence that the US economy continues to weaken.
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Paul A. Ebeling, Jnr.

Paul A. Ebeling, Jnr

Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster's Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.

Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.