Gold can’t above 1800 and plunges back down to $1,720 money flows into the USD $1,695 support or else gold bull run continues #gold #fx
I think I understand what you are saying – Gold has support at $1695 and resistance $1800 .
Does anyone have an explanation for its very fast plunge from resistance to support in less than a day ? Nothing else moved as much so presumably it wasn’t a news story.
A fat finger 100,000 sell at market order ?
The same fat finger that sold all those treasuries?
I wonder if someone decided “hmm, how would the market take 100k cars right…now?” And decided there was really only one way to find out.
We usually learn pretty quickly if it’s a fat finger, in part because the initiating firm tries to bust a certain number of trades, and partly because someone at the clearing firm will blab to one of their customers.
But if the market moves in a manner that there’s no loss on the trade, I suppose busting any part of it isn’t really necessary–just buy them back at a profit. And in this case, it isn’t like the seller didn’t have the margin in place to cover the trade, so either this was simply a large player closing out a position rather noisily, or a medium player in the process of discovering they can be a big
Way too volatile at this time, IMHO.
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