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Jnug to Gold pullback not finished YETI just read from someone that he believes that the daily cycle for gold is finished today or tomorrow. He called it a Shallow DCL....UMMM NO. The divergences have not resolved themselves yet. And we should at least pull back to the 50 DMA for a healthy DCL. This is a half cycle that we are currently in and it is my opinion that the weight of the possible rate hike on February 1st will continue to drag gold down possibly until the decision day just like the last two times. We could do a very small one day move up but we still have room to go down in my opinion. As far as miners go. I think we have just started the pullback for miners (JNUG) DCL low which should normally end around the 26th or 27th. But this Rate hike date may also stretch the pullback until the day of as well just like before. I do think JNUG will pop briefly right after Feb 1st. I will post my chart as to what I THINK will happen in the coming week(s). Lets also not forget about the DOW breaking 20,000 and the Japanease Yen. So this week is important. WE shall see who is correct. Just have your stops in place which ever way you lean.
FX_IDC:XAUUSDShort
by SalN
1
Gold Bull or Retrace First?Is gold retracing or more bull? If it reserves here I have the charts up and you can see here in solid gold . If it continues, I'm looking for 1229. If there's a light pullback before continuing to 1229, it might not be deep. DXY bounced off a critical area too; 100.3 above 100.25 which would have signaled it falling deeper. If DXY continues to fall, gold will regain it's movement bull . Gold's 1h RSI is right at trend line . It could bounce and go higher or begin the next movement down. Will watch and see. Solid Gold: Bearish Crab 1218 GoldOutline: Bearish Deep Crab 1229
FX_IDC:XAUUSD
by AlphaDreams
Jnug to GoldI am following my cycle charts. I believe that in the cycles and that Jnug will end lower than we are at this point today. I am still holding short from last week. I was hoping for a bigger drop but I am not quite sure how much of a drop we can get. Will it be big like after the election. I am leaning that way. Especially with everyone saying that Gold is going to skyrocket starting with the inauguration. Seems a little inconsistent if you ask me. Although we could possibly shoot up for a few hours just like the election night. I hope not, that would make me sick. I am just not sure, sorry.
AMEX:JNUGShort
by SalN
Bullish Bat - Daily Bigger PictureAll is on chart: 1.618 from 1375 to last year's low is 1120. Gold 0.27% bounced off of it at 1123 and is currently at . 382 retracement from it's drop from 1337 to 1123. We are seeing higher TF oscillators due for a pullback, but when? BULL: .382 was 1202 and we past it. 1228 would be .50 and seems reasonable. While .618 is a bit far. RETRACE: If we pull back from here .618 of this current bull would put us at 1153, while .618 from 1228 (if gold 0.27% bulls to .5) would pull us back to 1162. The fib numbers represent levels worth watching for this retracement from 1123. There is no rule that any instrument has to go where we think or turn at it's retracement fib level. These are just levels I watch in case it does turn. Nor does any indicator / oscillator say it's can't just keep going. Be patient, no emotion, no greed, trade safe.
FX:XAUUSDLong
by AlphaDreams
1
Gold Hidden Bearish Divergence RSIGold Daily Chart I apologize for all the lines for my gold chart. I usually don't like to post this chart because of the mess but felt it important. Take a look at the RSI below set at the default 14 for the daily. This is another reason why I believe that this is a fake out and that we still could fall until late Feb to March. What you are seeing is called a hidden bearish divergence. RSI is making higher highs as spot gold is making lower highs. Look it up (bearish divergence) for yourselves. Timing this is another story all together. Yes we could make a pop up which can really turn your stomach. And yes this does not have to play out. But divergences are important to consider. And the fact that miners is now past the half way mark for its cycle means that a correction move will begin soon. I held over the last few days placing my bet that this tanks soon. However, if this is a wave 4 then it could get sloppy before the fall. The other thing that I take into consideration is the YEN. The YEN is also in a wave four correction and started that correction on December 15th / 16th the day gold took off. The Yen is IMO more closely correlated to gold than the dollar. At least it has been lately. And I am also wondering if gold might tank after the inauguration. Just like it tanked after Trump won the election. I think this week and beginning of next will show us the way. If I am correct and gold does tank, I believe that this will be the last time we go down. It should be very very bullish for the next 5 years or so after that.
FX_IDC:XAUUSDShort
by SalN
Jnug to Gold Important InfoGold Daily Chart This is important enough to get its own post. Earlier post still applies as you will see. I was reviewing some of the materials that others have written about cycles and gold and I think I found something that could prove to be very important. Since I cant post the chart I want to reference, I would like you to google search for it on your own so you can see this persons research before continuing reading this post. So in your google search type in silverdoctors Gary Christenson and look for his June 6th article titled Major Gold Cycle Lows. Then scroll down past the Gold monthly log scale and focus on the Gold weekly cycle log chart he has created. Read the description. ........ As you can see, his analysis looks pretty darn good and that the yearly cycle is more like 14.5 months rather than 12 months. THAT BEING SAID. Gold bottomed in December 2015 on the 17th. And now you are hearing everyone say that gold has bottomed this year on DECEMBER 15th. HMMMMM. 363 days! Nope, too damn close. In my OPINION, its a trick. They are fooling us and this could very well be a great bull trap this last week and a half. You see, 14.5 months comes out to middle February to early March. And if you look at my chart, you can see that the short term and intermediate term cycles are due to bottom at that time as well. So I really feel that in the next week or two, we will see if my theory is correct, that we are only in a corrective wave 4, with a 5th wave down about to commence possibly in two to three weeks. Down to that red arrow and yellow oval. Yep, I'm looking to buy physical gold and silver, and JNUG!! when gold gets to 986 to 977 range. And that fuchia colored line just bellow the yellow oval in the bottom of the bear channel, the same one we bounced off of in December 2015. Then we really start the bull run and live happily ever after. Just for fun, I'd like to know what you guys think about this little bit of info.
FX_IDC:XAUUSDShort
by SalN
1