March 11 2014
Gold Keeps Getting Rejected at 1355
Gold rebounded into this morning again reaching 1353 as it did Friday after holding against session highs yesterday but this is where the standoff is with bears. The Bank of Japan held a press conference this morning where they pledged to expand the monetary base and that may have lifted gold to resistance. Gold has found support through shaky global data and easy money policies around the world since the start of the year and so far has avoided the seasonal down trend that most often happens in March (the worse month of the year for gold). But the HUI gold stocks and SILVER are not confirming and that is worrisome.
Resistance still comes in at 1352-55 on Tuesday and above here the major line in the sand sits.....