25 Quotes by Darren Heathcote
- Author Darren Heathcote
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It doesn't look like we've got any particular drivers to push it either down or much higher.
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- Author Darren Heathcote
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We are now looking to target about $534,50, with $539 probably the resistance. But I still think we need to see a break below $525 to see an immediate reversal in the trend.
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- Author Darren Heathcote
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We are still in an upward trend. The fundamentals are still in place but I think we are having a bit of a shake-out.
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At the moment the mood is still jubilant.
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At the moment, I think we're lacking a little bit of direction.
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There's some profit-taking now, but look at where we are. It's broken $520, the target we had yesterday ... looks like $525 is the next target.
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There's a severe lack of interest in Asia. There was some physical buying on the dips down. That's started to dissipate.
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There's definitely more buying in gold, obviously on inflationary fears. The funds have continued to buy.
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It's dizzy high, and we're looking at a very overbought market. We're looking for a correction. It has to come at some point. However, given where oil is, it may well give some support on the downside.
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