Gold Drops To Key Technical Support After $2 Billion Purge

After surging above its 50-day moving-average on Friday, it appears someone is keen for that key technical level not to hold as they dumped almost $2 billion notional in seconds this morning, testing down to the 50DMA (but holding for now).

15,000 contracts dumped in under two minutes... but for now the 50DMA is holding...


The Dollar Index has been flying around after the Merkel headlines over the weekend...


HillaryOdor BaBaBouy Mon, 11/20/2017 - 09:43 Permalink

But wait.  It just broke through a key technical resistance the other day, on heavy volume no less.  Oh it's just retesting it.  We're good here.  I studied TA a little bit a while back and I don't recall using MA as support or resistance.  It was more about pattern formation with fixed support/resistance.  

In reply to by BaBaBouy

YUNOSELL FreeShitter Mon, 11/20/2017 - 09:43 Permalink

That's still an illusion.I truly hope you can sell in time. It's funny because your above post which I "liked" you say the SEC is in on the manipulation, so you can accept that Gold & Silver are heavily manipulated, yet you still think Bitcoin is a great buy and NOT a bubble. Tell me then -- why aren't they going after Bitcoin with the same fervor as they are with gold & silver?

In reply to by FreeShitter

YUNOSELL FreeShitter Mon, 11/20/2017 - 10:30 Permalink

Actually, I must admit I am not complaining about the price suppression as I am still buying, LOLI only 'complain' since I find it amazing they can still get away with outright fraud and corruption in suppressing the price for so long, and the fact that the economy is one big illusion now with nothing as what it seems. Crazy reality we live in now.

In reply to by FreeShitter

Scuba Steve YUNOSELL Mon, 11/20/2017 - 11:23 Permalink

When you gather that:1) Soros, Hillary and Bill Clinton are still breathing2) All the CB's have done what they have over the last 10/20 yrs 3) what the SNB and DeustchBank amongst the other big banks have done.4) the outright political abuses5) BLM can do what they want while conservative groups are maligned They can do anything they want, manipulation of PM's/Markets is just a Means to assorted Ends imo. Child play for the Men that run the world.

In reply to by YUNOSELL

bshirley1968 FreeShitter Mon, 11/20/2017 - 09:34 Permalink

Yeah, 8200.......pieces of shit paper.Call me when the Shitcoin can stand on its own.  If the dollar ceased to exist today, gold would stand on its own as a store of value.  What would your shitcoin be worth then?All the crypto is doing is migrating people in direction TPTB want society to migrate.  ELIMINATION OF CASH once and for all.  Now they have come up with millennial dumbass "gold".....let's call it "bitcoin".  It will be digital, we'll make them think they control it.  "They'll love it!"  Why would a millennial want gold.  Yeah, we'll continue to suppress the price of gold and take shitcoin "to da moon, Baby!" 

In reply to by FreeShitter

Putrid_Scum bshirley1968 Mon, 11/20/2017 - 09:44 Permalink

It’s all about time and destruction.

The Cryptos buy us time, to destroy ... Saudi, Turkey, Egypt, India ...

It corals the excess fiat into a place where it’s not spent ... $8,300 and it’s never spent ... :) What’s the point in owning it then?

Who is The Master Manipulator?

Be careful Americans, you’re also on the list ...

In reply to by bshirley1968