EmileLetellier

EmileLetellier

Im 100% against gold right now. I would have bought NUGT, but the stock just got through the support line and it forms an head and shoulders pattern. Thats why I went against gold and bought DUST

EmileLetellier

We can clearly see that the stock is following a symmetrical triangle pattern. The stock has been oscillating between these two lines for months now. There is also a BAT pattern in formation at this very moment. I would buy in the 30$ area on monday and sell in the 34$ area few days later.

EmileLetellier

It might be time to go bullish on gold ETFs. The pattrern is clear and if the stock doesn't break below the 0.786 fibonacci level ( from X to A), the odds of a bullish rally are in our favor. It might not buy today because we are friday, but i will definetly look into it monday morning.

EmileLetellier

A cup and handle pattern is in formation. The RSI retest at 50 confirms it. I would like to see a small consolidation to the downside and an eventual breakout to the upside.

EmileLetellier

We can see the beginning of a bat pattern on the daily chart. Furthermore, XAUUSD is boucing back on the 10 EMA ; going for a potential pullback. Won't enter yet, but will be watching carefully.

EmileLetellier

The RSI is exactly at 30%, which is a strong indicator of a reversal for the following stock. The BAT pattern could also indicate a potential reversal. The stock will probably form a double bottom in the 26-27 area. Also, Gold is having a strong bullish candle right now, which doesn't happen a lot when the US markets are closed. If you have any comments please...

EmileLetellier

Gdx has a tendency to bounce on the 200MA. I am presently holding GDX shares and I will probably switch my position to DUST if the stock goes below the 50MA. If the stock is capable of crossing the 200MA, it would be a great bullish indicator.

EmileLetellier

Gold has a strong tendency to bounce on the 200 EMA. It happened many times in the last year. If gold can't break through that 200 MA, I would short it. Because if it doesn't cross, There wil be the formation of a Double top pattern, which is a bearish indicator. I am presently bullish on gold (GDX), but if we can't get through that 1260$ level, I'll go fully...

EmileLetellier

Over the past years, the GDX bounced on the 200 MA pretty hard, and it acted as a strong level of resistance or support. It just happened again. Even if gold was rising in a pretty strong way in the last couple of days, the GDX was still unable to go up. That means the bounce is really strong.

EmileLetellier

After the elections, the stock rose back to 40$, the same price it was about a month ago. The stock was denied to go higher and is now going back down. If you look at the RSI, it's making lower highs even though the stock is back up at 40$. The markets rose after Donald Trump's election and that was really weird, i think it was a bubble and it's about to pop.

EmileLetellier

This looks a lot like a head and shoulders pattern to me. If the stocks goes back to 22.28 ( the last support level), it's probably going to cross it and go down by a lot.

EmileLetellier

If the stock breaks below the 100MA, there is nothing left to support it. My bet is that it's going to go in the 31$ area. On top of that the elections are coming very quickly and this creates a lot of fear in the market. So if it breaks below the 100MA, I will be buying TVIX and VXX

EmileLetellier

Because of the last gap, the stock is now retesting support and the last bearish move might only be another retest. If the price break below 25,06, this could be the beginning of a rally.

EmileLetellier

if the stock breaks that bearish flag pattern, its could possibly go up. It bounced on the 200MA easily and that is a strong signal. We saw it multiple times in the past. What I'm waiting fot : - 10 and 20 MA crossover - for the stock to break that bearish flag pattern

EmileLetellier

There is an important resistance level in the area of 40$ and the stock can't seem to break it. It tried many times but it remained unsuccessful. On top of that, we can see an important RSI divergence which can give us a hint on which way the breakout will be. The fear of the elections will also drag the price down below the triangle.

EmileLetellier

Even with all the indicators we aren,t sure if the stock is bullish enough to bounce on the 200MA. A breakout from the triangle below would confirm the strenght of the chart.

EmileLetellier

Their is a very strong resistance level and it seems like LPI can't get passed it. I mean the stock tried several times and it didn't work. Now, it's losing momentum and its going to go back in the area of twelve dollars, where i drew the up channel's trendline. What do you guys think ? Buying at twelve dollars may be a good thing.

EmileLetellier

If it doesn't break out the triangle soon, this thing is going down