Expecting an inverted head and shoulders reversal pattern to ignite a chain reaction bullish trend all the way up to an initial target of $1600. See chart for details. Good time play the miners IMO. JNUG NUGT AMEX:GDX AMEX:GDXJ AMEX:GLD TVC:GOLD OANDA:XAUUSD OANDA:XAUEUR Good luck!
FORECASTING THAT GOLD MOVES UP FROM HERE AS WE ARE NOW AT THE BOTTOM OF THE ASCENDING PARALLEL CHANEL AND JUST OUTSIDE THE REGRESSION TREND (BUY SIGNAL). A MOVE BELOW TODAY'S LOWS MAY INVALIDATE THE THESIS. LOOKIG FOR GOLD FUTURES CONTRACT TO HIT INITIAL TARGET PRICE OF $1613 AMEX:JNUG AMEX:NUGT AMEX:GDX AMEX:GDXJ AMEX:GLD OANDA:XAUUSD FX_IDC:XAUUSD...
Gold/miners to pull back? Long term bullish but a correction should be welcomed by bulls $gdx $gdxj $nugt $dust $jnug $jdst
Gold has soared and broken downside consolidation & resistance based on what will eventually be a double cut (ECB/Fed) cut in September contingent on an extreme escalation in the USA-China trade war. I will refrain from going into too much detail for my reasons and the specifics to avoid redundancy. Please check my numerous and incredibly accurate predictions on...
Gold is working a continuation triangle, implying a move higher. At this point spike to 1550 is likely, but I still think we're due for some sorta temporary top
GDX is still 12% below its 2016 highs, despite Gold having already surpassed its 2016 peak of 1375 by roughly 5%. On top of this, the GDX having more exposure to unhedged miners should result in GDX out-performing the HUI hedged senior miners in a bull market. This is not the case, as the GDX is actually under-performing the HUI. Highest probability assessment...
Please see the chart - and remember, RSI is more important than price with respect to the completion of an ABC (i.e., if wave C's RSI exceeds wave A's RSI that is more important than wave C's price exceeding wave A's price (though typically both go together)).
After discovering the World Currency Unit (WCU), essentially a basket of GDP-weighted currencies, and looking into how it was calculated, I realized it would likely serve as a better indicator of the Real Value of Gold & Silver. I've been following this exact chart for a while now; Very interesting how well it's lining up with fib levels, as you can see. I've...
Fed's policy bullished both S&P and Gold. But for now, gold might need to take a breathe before going higher. RSI is in the overbought area. Two exhausted candlesticks are also appeared. We can short the gold by watching those resistances and supports. 1430 would be a strong resistance, and the green bars are strong supports.
ABBV is selling off this week in a third leg down from the buy climax and all time high. Although it looks strong at first glance, this is more likely a sell vacuum (sell climax) than the start of a strong bear breakout. A vacuum is created when strong bulls step aside and wait for prices to reach a location they want to buy, and the strong bears continue to...
I'm anticipating the FED not cutting rates - this will cause other central banks to cut, which will force the dollar $DXY up and gold down. Chart looks like a double-top is forming with momentum sliding. Again, the only way gold goes up if we start war with Iran which last week looked like it was going to happen. Doesn't look like most of the globe is accepting...
I'm thinking that pullback (blue arrow) was either a 1/2 cycle low or the end of the 1st DC. If its the 1/2 cycle low we should move higher towards $1390 as the top. If its the later we are on day 2 of the 2nd DC. The first DC was 34 days long which is right in line with the previous cycles. If I am right we should blow past the previous high at $1348 easily. If...
lots of resistance above and support below. probability to the upside on longer time frames. long over 23.50 $NUGT $GLD $ $DUST
Volume is flattening. Pullback to support level is expected.
Welcome back guys, sorry for disappearing for a while, I’ll be post more frequently after June! But in the mean time… here’s what I’m looking at right now. First, let’s acknowledge that trading gold miners have been pretty boring lately given the tight range it’s been stuck in. That’s why I was primarily day trading for the past month to avoid taking overnight...