THE REASON BEHIND GOLD AND SILVER ROUND TRIP TODAY
This post was just published on ZYX Buy Change
This morning gold and silver ran up strongly then made a round trip by pulling back to where they started from.
Gold and silver options expire on Tuesday. Option expiration appears to be on the upside. The up move was related to option expiration.
At the highs Smart Money took advantage of elevated prices and started selling. This selling brought the prices down again.
An interesting battle is taking place between Smart Money and the momo crowd. So far momo crowd is winning.
In gold there is strong support in the zone of $1758 to $1773. … Please click here or the title below to read more.
September 21, 2012