Replies to post #48149 on Banro Corp. fka BAA

[OhManIDied]

(CHART) Gold just spent 50 minutes trading above-the-upper-VWAP line, a standard deviation above the daily VWAP.

Trading above or below the deviation lines is rare because such price dislocations usually either find the volume they need to widen the bands (like the BBs) or to get the price back within them.

This action tells me there that are much fewer sellers than buyers, even at $1218.

As I have previously stated, spot gold held up exceptionally well recently (during a consolidation pull-back, nonetheless) as the Dow surged ~1000 points, USD recovered some losses, and crude oil jumped $4/bbl -- nearly 20%

Given that those recent moves were transient, I expect gold to really pop as they revert back toward Earth and fundamentals take hold once again.



BAA