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Global stocks markets continue to swell in value with Japanese shares rallying higher overnight and the German Dax index still showing strength just above the psychologically important 13,000 level.
Squawk / 13 July 2016 at 13:10 GMT
Technical Analyst / FuturesTechs
United Kingdom
My last squawk on Gold ( https://www.tradingfloor.com/posts/gold-looks-interesting-as-a-long-we-have-a-setup-and-just-waiting-for-the-trigger-medium-and-shor-7903672 ) said that I was looking for 1350 to hold to act as a springboard for a move back to the highs. It didn't hold. I then went on to say that 1336 and 1330 were the next strong support levels to watch. We held the latter, bouncing from here today, so far reaching 1345. This 1345 level is a hurdle as it's the Marabuzo line (halfway mark of the real body) of yesterday's large red candle. If (I think WHEN) this is retaken we can expect the bulls to get busy once more. So that's my mission for the bulls this afternoon!
1y
Clive Lambert - FuturesTechs Clive Lambert - FuturesTechs
A snippet of my commentary to clients this morning:

Candlestick charts say: "Alas we didn’t really put 1345.8 to bed and in overnight trade we’ve seen weakness all the way down to 1325.3 as I write. The bulls need to haul us back above 1329-30 sharpish or we’re going back to 1308. This bullish looking chart is suddenly looking less so.

Profile charts say: 1332 and 1337.8 are potential (vacuum) resistances on any recovery trade.

Summary: Oh dear. Could be “all change” with 1329-30 failing in the last hour or so…
1y
Clive Lambert - FuturesTechs Clive Lambert - FuturesTechs
Since then we've been to 1321. One thing the above doesn't higlhigth is that 1308 is a really important support below.

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