With the 1st target 20 year 38.2 Fib & 5 year 50% Fib hit (into the all important June options expiry) one gets the feeling this market is getting washed out. I have been leaning short since December and am just now starting to feel confident we are approaching (if not at) some serious support levels in the yellow metal. While certainly not a 'buy', being short...
Much damage this week. GOLD has fallen below a KEY confluence support area. A bearish candle totally outside channel CLONE A, below reference channel B and below the .5 Fib level, Next near term target is the .618 Fib level.
Looking at gold thru these Gann Fans, I am seeing a potential falling wedge formation. The price above is acting as new resistance and the price below is acting as old support.
Just looking and sharing some thoughts on Gold. I am seeing a potential setup for a positive move soon. Similar to the one in early 2012. The moving averages are laid out like rungs on a ladder as both resistance and support as they are met and crossed. The 50 will be the hardest to cross as it has served as resistance since November of last year. This double...
Indicators are yelling "Oversold" but Fibonacci retracement points to $ 1300.90 for a 50% correction, may not get there, distribute buying below $ 1350. Rebound could take it to $ 1447
1550 long term support tested on the 21 Feb is below us. Gold has reached my previous target 1615 and has now formed a nice four day consolidation above the 20MA. I would buy at breakout with target on the 2/1 Gann liine.
I really like the symmetry here for a reversal. I think markets sometimes like to end things the way they began them. This chart is reflecting that sentiment very precisely. Also the current price is in the right area for what has been in the recent past a very pivotal area for reversals in gold. And finally, I added the 400SMA to this chart. The 100SMA and...
Looking for a pullback and last test of long trending Symmetrical Triangle. Daily RSI readings have gave us insightful hints as to when Gold has been overbought and oversold. Currently we are at midline, however the trend is lower.
Compute the height from the highest peak (point A in The Measure Rule figure to the right) to the lowest valley in the pattern (B)...
