The daily bar chart pattern of Gold had formed a 'reversal day' bar on Jun 16 with good volume support. That had triggered a correction that found support from the rising 50 day EMA on Jun 23.
The unexpected result of the BrExit referendum sent global stock markets on a free fall. Investors rushed to the 'safe haven' of the yellow metal. Gold's price spiked up to 1360 with a huge volume surge.
The initial panic has subsided. Nothing has changed on the ground yet. The process for UK to leave the EU will be long drawn out.
-- The unexpected result of the BrExit referendum sent global stock markets on a free fall. Investors rushed to the 'safe haven' of the yellow metal. Gold's price spiked up to 1360 with a huge volume surge.
The initial panic has subsided. Nothing has changed on the ground yet. The process for UK to leave the EU will be long drawn out.
Read more at:
http://investmentsfordummieslikeme.blogspot.in/2016/07/gold-and-silver-charts-surge-ahead-on.html
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