Here's a little gold puzzle for you to ponder as you're getting ready for the weekend. See if you can figure it out.
Crude oil reversed sharply to the upside last week so it seems that five waves down completed the wave 3) and the current rally is a part of a contra trend reaction.
Federal Reserve officials are renewing a debate over cutting interest paid to banks on excess reserves, a move aimed at convincing investors that tapering its bond-buying isn’t the same as tightening its monetary policy.
FEB14 gold shot up this morning, trading up $27 to $1,261. $1275 is our next key target and resistance level. Gold now looks like it could have some momentum to the upside, and possibly approach $1,290.