Looks bearish here as it could be forming major macro bear flag/pennant pattern and if it breaks 121-122 zone w/ volume then it could test 95-98 zone for the extension of the move & this could happen in the next few months.....it looks like the major line or zone of support is around the 90 level which would be around 900 or so actual Gold price.....this area is...
OK...we have tested the break out area and are trying to move higher. If you pull up a weekly chart you will see that we are coiling and like CL1! it could get whippy. These are tough markets to navigate...either use small size or BE PATIENT. We are long GC1! with small size.
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I am starting to accumulate gold as an investment & a hedge against inflation. This is different from my short-term day trades, which I'll take both long and short. I'm more interested in buying physical gold - some to be stored inside the U.S., some overseas, and some in ETF's like GLD.
Energy (VDE), material (VAW), commodities (DJP), inflation protection (TIP), gold (GLD) and bond (TLT).
I am not certain why (probably because of weaker dollar, as shown on the chart), given this, current dollar and rate on their monthly charts are indeed very weak so can these assets perform well during first half of next bear market? Only time can tell. Good Luck!
Some charts are broken, others are difficult to understand, some are messy and others are beautiful.
This one is beautiful. Respects trend lines, fibs, divergences, or anything else that traders use I guess to place their bets.
For me it's just polarity perfection. The way support becomes demand and vice versa.
So far price is following the path of a bearish...
Anticipating gold to bounce off trend (yellow area) and move back up into the $135 range.
We appear to be pinching and I expect we will continue to pinch for at least another year-year and a half.
I'll remain bullish, set my stops and buy the bounce for a few months of hopeful gains.
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All opinions expressed by Emuffn3 on this website are solely...
Well known demand zone to those frequent trading the pm complex, goes back to 2009, where it's original base build before the explosion higher.
Apart from the big positive divergence, momentum shows a double IH&S, hinting at a possible reaction at the same zone.
Also considering silver's dual use as industrial metal as well,even by less percentage of its...
Friends,
A bearish market reversal signal was emitted from my prop system, defining new bearish targets, namely:
1 - TG-1 = 116.76 - 28 APR 2014, moderate-probability
and
2 - TG-Lo = 115.38 - 28 APR 2014, low-probability
While this signal is offering a dominant directional bias, one should remain open to frustrating contingencies. Therefore, let us define...
Coincidentally, TIP has a reverse head and shoulder breakout. This seems to suggest inflation expectation is on the rise, and owning GLD is more favorable than owning DXY (dollar).
Friends,
A quick note on this relative strength chart between Gold and Silver. Last October 10th, 2013, I offered a bullish directional idea based on the completion of a pattern of moderate/high reliability, called the "Kiss Of Death ("KoD").
As the pattern play out quite well, so did price action, as it is now ever closer to the targets defined at the time as...
Friends,
This 4-hour chart has moved significantly to new structural lows, carving lower-lows and lower highs. It also tripped my prop system to emit a market bearish reversal confirmation, and since moved to a relief lower high.
I would surmise here that the large impulse borne out of the beginning of the year (i.e.: precisely, 114.46 on Dec 31th 2013 to...
The correlation between SLV and BRF is more prominent that with GLD. Nonetheless the relationship between these asset classes are quite distinctive. long BRF, LBJ, ILF
This chart tries to demo gold price, dollar and interest rate can go same direction at times. So rising dollar and rising rate do not necessarily mean lower gold price (but most of the time, yes).
Miners working on a bullish engulfing week so far and a right shoulder against the metal.
If symmetry is any guide, hints that we will have maybe another month spend in this bottoming IH&S formation.
Cheers
P
