SaxoTV

Neighbour: Seeking safety in Gold

219 views
October 03, 2014 commodities, commodities markets, commodity, commodity index, commodity market, commodity outlook, commodity prices, commodity strategy, commodity trade, commodity trading, ecb, ecb meeting, fed, fed chairman, fed meeting, fed tapering, gold, gold bonds, gold bullion, gold buy, gold buying, gold commodity, gold demand, gold dollar, gold exchange, gold future, gold investing, gold investment, gold levels, gold long, gold low, gold predictions, gold price, gold spot, gold support, gold trade, gold trading, golden, goldgold, goldman, goldprice, macro, metals, saxo tv, tradingfloor.com
Joe Neighbour thinks Gold is offering shelter from stormy markets being buffeted by ECB decisions and the uncertainty around the US rate debate.
Gold's safe haven status is, once again, offering traders opportunities, according to Joe.
Gold has been in decline since July but the RSI is oversold and, from a technical perspective, demonstrating bullish divergence.
There is long term support around the 1200 level.
Stop: around 1180
Target: a bounce in the near term towards 1280