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POTENTIAL SYMMETRY MOVE MAPPED OUT FOR THE YEARLY PATTERN. IT LAYS OUT THE EMOTIONS OF THE MARKET. :PRICE ACTION" IS EVERYTHING.
Gold, XAUUSD is primed for a pullback. Starting to see long wicks that indicate that the bulls can keep it going. Could be the CD leg of a Harmonic pattern starting. Looking at the RSI the commodity is very over bought over 80, close to 100. If this is the start of a bull market then we probably wont get a big pullback. I'm looking at 1181 or 38.2%. This should...
DUST basing here at the %R very oversold. Volume picking up. Look at the last time DUST had a base like this, it went up pretty good. The problem is, we are starting a bull market in GOLD and betting against the trend can be very risky. Wiat unitl the price gets above the 8ema before getting in. Could project over $12, I'd be happy getting to $8.
Hourly chart - Gold ($XAUUSD) is breaking again. Resistance is 1234-1235. I'll be interested near 1239sh level though. I am already long $NUGT.
Gold has pulled back slightly, but still up almost 15 percent since 2016. Traders don't believe the current rally as they look hopeful of more central bank quantitative easing, which is exactly why gold has had its run this year; and it is why I have been saying fundamentals have been strengthening for gold for roughly 16 months. After gold volatility hit...
Gold is bullish above 1150sh level. Since the risk eases off, Asian markets are off to an excellent start. On this Gold reversal, I am already SHORT $NUGT (holding from Thursday, small position) and have covered call on $DUST. Will analyze situation in US session to jump in.
You've got a lot more to prove longer term as you face a resistance storm ahead, you do realise? Yes, your trend breakout is in direct correlation with negative sentiment in the main indexes so don't get too excited yet. The big money is just using you as a hedge right now. Oh btw - Here's a study conducted by Thomas Bulkowski on trend breakout failure rates -...
On the left was the most similar gold spike I could find in 08/2011... I expect a similar retrace here boosted by the possible SPX reversal candle on Friday. Should SPX momentum continue, gold may go to 1140ish before I do a reevaluation.
POTENTIAL SYMMETRY MOVE......IT LAYS OUT THE PREMISE FOR THE EMOTIONS IN THE MARKET. THE MARKET IS ALWAYS RIGHT. ONLY "PRICE ACTION PAYS.
DUST appears oversold right now. The TSI is oversold and at previous places where reversals take place. I am looking at a move up out of a descending wedge pattern to complete the AB=CD pattern. Also getting a stochastics cross LE recommendation. Expecting a similar move higher as seen Yesterday, the 9th. Note this is a 15 minute chart
May be a chance for consolidation/pullback here to break through this high traffic area. "Overbot" conditions support some cooling off is possible.
Whether you're interested in hedging your long gold position or simply want to take advantage of a potential decline in the gold miners, the gold miners present an appealing opportunity in capturing alpha.
Gold mining stocks have been trending higher, along with the overall U.S. equity market, of late. The recent support in gold prices allowed the Market Vectors Gold Miners ETF (GDX) a strong close last week, pushing 15 percent off the November 18 low. Gold mining stocks really get a pass from traders, and it is still early to determine whether the move will last...
In " Gold Leaps Higher as Worries Mount ," I briefly pointed out how those very same institutions that championed quantitative easing policies implemented by the Federal Reserve are now coming out to proclaim quantitative easing added no substantial benefit to the real economy . Gold was pushed lower on the assumption that central banking policy would all pan...
Past ~1.5yrs the ratio between SPX500 and gold (XAUUSD) has followed a channel defined by a 3pt trend line on top and its parallel 2pt trend line below. Currently close to its upper limit. The past 2 peaks were "resolved" by a short term increase in the price of gold, thereby lowering the ratio (increasing the denominator). Alternative resolutions include:, SPY...