With high conviction, I believe that Gold has more downside from here.
Ideally, a 1 to 1 ratio with wave A & C would be needed at the very least in order for me to get involved!
Real yields are the main driver of precious metals. Currently, the Fed is transitioning to a dovish stance while inflation is expected to remain above 2% over the coming 6 months, this is extremely positive for Gold.
We are completing the corrective Wave C to complete a triangle for Wave B. Upside target from there is $1,542.
Gold and gold stocks breaking down as expected
I continue to expect a move down to $14.75 before we continue the uptrend.
Markets are not linear, although I continue to be bullish Gold the risk is that we have one more move lower before the uptrend resumes.
Dollar index is testing its lower support channel and could have a strong bounce, which in turn would send precious metals tumbling. Gold miners are looking bearish on the daily chart and I expect a move lower this week. See more videos at www.TheTechnicalTraders.com
I have dipped my toes in Silver, I'm unsure whether a meaningful low is in place just yet, however, I did want to have a horse in the race.
President Xi has canceLled his trip to Mar-a-Lago, maybe it's innocuous but I'm not willing to take that change. I believe we still have some downside yet before we have a decent buying opportunity.
This is my first video on Tradeviews and I'm still learning the software but I wanted to give it a try and share my overall analysis for what you should expect next in gold. GLD GDX GDXJ JNUG NUGT SIL SILJ I share my daily pre-market video each and every day before the market opens on my website .
My target for a wave 4 in Gold was $1289, however, I now believe we have further to drop before a buying opportunity presents itself. I see huge issues with this trade negotiations and the outcome is likely different to investors expectations.
A series of better than expected numbers has caused interest rates to rise in a soft inflationary environment this equals higher real yields and a negative headwind for Gold at least short term.
Precious metals have been performing very well over the past couple of months, price does not move in a linear fashion so do we careful near term as the risk of a pullback is rising.
Hi guys, thank you for the support! I will have this analysis out each weekend as well as daily updates throughout the week, if you guys like what I'm doing hit the "follow" button and you will get a notification each time I post a video or chart! Have a great day everyone!
Hi guys, thank you for the support! I will have this analysis out each weekend as well as daily updates throughout the week, if you guys like what I'm doing hit the "follow" button and you will get a notification each time I post a video or chart! Have a great day everyone!
Hi guys, thank you for the support! I will have this analysis out each weekend as well as daily updates throughout the week, if you guys like what I'm doing hit the "follow" button and you will get a notification each time I post a video or chart! Have a great day everyone!
Hi guys, thank you for the support! I will have this analysis out each weekend as well as daily updates throughout the week, if you guys like what I'm doing hit the "follow" button and you will get a notification each time I post a video or chart! Have a great day everyone!