Wednesday, September 24, 2014

Gold Retreats in NY Trading After Double Seahorse

Gold gave back some gains in overnight in New York trading, actually the moment the NY trading opened the price declined, which is surprising as we had seen strong buying in during the first half of London trading. London opened higher no doubt as European traders learnt about the US and other Arab states attack on IS in Syria. We even saw a rare bullish double seahorse pattern from the London open into the NY open but when the paper boys took over the market prices were cut.