Potential H&S Top, declining volume on right shoulder, wait for neckline break for confirmation. Short on 40% retracement from top of right shoulder through low of breakout.
As you can see on weekly chart of gold futures GC1! It has bounced off 50% Fib level. Is it going up to 1338-1340 price point before it pauses again?
Note, I used some nice tools on the chart that tradingview provides. I have added fictitious trade to show nice risk to reward if entered at current levels.
This is not a recommendation or advice to trade. It is...
A series of events took place causing me sit back and contemplate market participants (in)sanity. First, it is known that I've was one of the first to stick my neck out and tell it how it is – the U.S. Is facing a recession in 2016 – last April. Soon after, various investment banks flirted with the potential but gave the very realistic situation very low...
From 2013 to 2016 gold was constrained into a downward parallel channel. On march 2016 we can observe a breakout on upper channel. At this point i see 2 possible scenarios for 2017: you can look at the chart for details.
Despite what so-called gold bugs have been trying to predict for years, it still remains seen how valuable the most "hated" asset on Wall Street can be. Calls of $10- or $50,000 gold have made headlines and often laughs, but when investors take into account the supporting fundamentals, gold can be extremely beneficial during these centrally-planned...
Gold may Lose All The Gains as it is making reversal patterns already in Daily and Weekly Charts, Also Us Dollar is looking to gain little strength in Technical Charts and if market rally continues, then investors will enter in stocks and free up their capital from Gold which will make further pressure on it.
Is the once Goldman Sachs "slam dunk sell" turning into a layup buy?
I cannot hate the initial call from many investment bank analysts it to sink to $1,000 because, in 2013, I issued a $1,035 bear-call. However, I do ridicule these analysts for unwillingly (either through ignorance or moral hazard) understanding the dynamics of gold.
But in 2014 I turned rather...
I decided to get together with a mathematician friend of mine who is a long time aerospace engineer by trade. My friend has no inclinations about gold or stocks in general. I mean the guy owns 1 house, 1 car, 1 dog and has the rest of most everything (in cash) stuffed away in US Treasuries. So I thought he would be the ideal person to have a look from a neutral...
If we take a look at the history of gold movements during its two generational bull markets ,we can easily see that gold tends to make a major retracement in price before continuing upward and establishing new secular highs. In the mid-1970's, just before gold when onto breakout over $200/oz., gold corrected roughly 46% from its previous highs and in the process,...
The decade of bull run from ~$260 in 2001 to $1920 in 2011 (6X) on back of safe haven buying and an investment asset class ended with revival in major global indices and on track economies. The 5 years of slow and steady pain from 2011 to 2016 where gold lost 45% of its glittering from its peak might come to an end. We might witness the resumption in the bullish...
