Today we are continuing our focus on gold and the S&P 500 and looking at spread betting strategies that can be applied to these markets.
In our last post 2 days ago on gold we wrote that the market was continuing to reject the lows and that if the market was going to move lower in the short term that the breach of support at $1185 should have had more follow through to the downside than it did. We noted that the lower shadows on the candle patterns seen on Monday and Tuesday were indicative of the lows being rejected due to buyers coming in and that the piercing pattern on Tuesday was pointing to higher prices.
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