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GLD

GLD, can it see the $130s or lower? I think so.If you zoom out on $GLD, we seem to be trading within a large channel. Price action looks very similar to how it did in 2012 before falling off a cliff. While everyone has turned bullish on GLD again, citing inflation as a reason for it to be a safe haven, the chart tells a different story. There seems to be strong resistance right above where we are and lots of room to fall lower from here. Based on the chart, I think over the next 2-3 years, we'll see the price fall to the $131 level in orange, if not lower. I could see price going all the way down to the $116-120 level at the bottom of the channel before bouncing. I marked off buy areas in orange and green as I think it'd start to make sense to scaling into those regions should price get there. If price falls below $146, that would be the signal that this move is likely to play out. Let's see how this longer term projection plays out.
AMEX:GLDShort
by benjihyam
Silvers bearish divergences I see bearish divergences building on the the hourly chart of silver as it moves its way far up into the apex of the rising wedge. This leads me to believe this move up is exhausted, barring any news that will be a catalyst for further upside. The MACD shows bearish divergence and so does the RSI. The pullback will be a very key determinant in regards to silvers low. The 3 key levels marked by horizontal supports on the chart will produce some bullish signals if they hold. Roughly $22.18 and $22.07 will act as a higher low if one of them decides to hold. The last line marking the recent low of silver as of late. A move towards that line will be a little worrisome since it was tested twice already. I do not see a convincing rally as of late , not to mentions golds struggle to stay above 1800. A break of $1860 gold will for sure signal another leg up in metals is about to happen. My views do not mean I believe that silver is about to crash, although that may be an actual scenario. Keep an open mind and happy trading.
OANDA:XAGUSD
by Fida4u
Gold, 20 Dec. Forever $1800.Gold has been ranging for over a year around 1800, with deviations of +/-7%. Today here we are, back at 1800. Wyckoff: The range gives us a chance to do a Wyckoff analysis. It is possible to interpret the structure as a re-accumulation with a spring and two tests afterwards. We need to see the LPS and SOS phases next to confirm this interpretation. Elliott: We are able to count (i) - (ii) in blue and sub-wave i - ii (in green). If correct, we should expect a wave iii of (iii) that would bring Gold out of the re-accumulation pattern. Wave ii has retraced 78.6%. Geometry: The inside pitchfork provides us with diagonals that are well-respected by price. A break of 1878 would confirm bullishness. How I trade it: Most importantly, Gold has made a higher high, and a higher low, causing the MACD to crossover on the daily. We can now look for an active sequence that holds moving averages. If the wave iii of (iii) assumption is correct, we will see a swift move to the upside. The idea is to gradually build long exposure here, and exit the positions if price falls below 1770.
CAPITALCOM:GOLDLong
by UnknownUnicorn12250317
GOLD IS SET TO MOVE LOWERHello traders & investors! We have nice setup for Gold. On daily it was rejected at important daily supply zone. Now we are stuck in little range and we can expect some sideways action. Once we start breaking lower, it should be a vicious move. My targets are $1676.91 & $1611.34 . Personally I am not trading it, will look for good places to add bullion at blueish ractangle. That's it, very simple concept :) This is not a financial advice. Until the next one!
TVC:GOLDShort
by Patrikas10
1
Multi-year cup and handle on #gold $GLDI'm a fundamental analyst first and foremost so I've been struggling with why gold hasn't been working as inflation accelerates to mid singles y/y percent growth and only looks to be going higher due to labor constraints. I thought $BTC and #crypto took share from gold but I now think most HF investors that were in BTC are out so not sure that is the case anymore. And, crypto is now in down cycle so gold should be able to regain some share. From a technical perspective looks set to break out of this multi-year cup and handle formation, which would be a huge move.
AMEX:GLDLong
by JonHorvath
1
Gold, 10 Nov. Elliott Waves | Gann Levels | GeometryGold moved higher as expected and hit resistance at Gann level 1831, which is also the .618 Fib in the pitchfork. Narrative: Inflation seems to be more persistent that assumed. The never-ending rally in Crude Oil is an indicator. CPI is due today. Reuters expects an annualised 4.3% vs the 2% Fed target. Elliott: We can count wave i (in green) of larger wave (iii) in blue. If correct, we should see a pullback before momentum expands again into wave iii of (iii). Gann: Support: 1810 and 1789 Resistance: 1831 How I trade it: The Gann levels 1810 (also the pitchfork median) and 1789 (also the lower end of the pitchfork & .618 retracement) present two zones with a good risk/reward ratio. The idea is to scale into long exposure here. If price moves out of the pitchfork, the bullish bias is likely invalidated. Call IV is high and we may speculate on a short-term volatility contraction, while being mindful that an explosive move to the upside is a potential risk. _______ In my analyses I combine Elliott waves and Gann theory to identify turning points in the markets & derive high-probability trading ideas. The strategy is to build leveraged exposure when markets are likely to expand, and to sell options when markets range and volatility contracts. BTO = buy to open STC = sell to close STO = sell to open BTC = buy to close TD = Theta Decay (for example a strangle or iron condor) The views and ideas expressed in this analysis are that of the maker, they are provided as educational information and do not constitute financial or trading advice.
CAPITALCOM:GOLD
by UnknownUnicorn12250317
Long Term Structure of Gold Futures MarketI've been watching this structure build all year. It's still developing, and I'm not expecting that a breakout is imminent yet. A breakout above this formation should lead to a significant rally. My fundamental outlook on gold is extremely bullish as well. Just look up a chart of the M2 money supply on the FRED website. I'll be treating any dips below $1700 as buying opportunities, expecting $1671 to hold as support. I will use this signal to opportunistically accumulate shares of gold and gold mining ETFs.
COMEX:GC1!Long
by iamroot
US Market Technicals Ahead (18 October – 22 October 2021)Better than expected Q3 earnings reports from major banks powered global stock indexes to a winning week with most banks beat significantly on the top and bottom line. The earnings season continues this week, with companies such as IBM ($IBM) , Netflix ($NFLX), Tesla ($TSLA), Intel ($INTC), Johnson & Johnson ($JNJ) and P&G ($PG) reporting their results. Elsewhere, figures on Q3 China economic growth (GDP) today will show the impact of multiple recent hits to the world’s second largest economy. The forecast is projected at 5 percent in the three months to September, slower than the second quarter’s 7.9 percent, amid pressures on factories from power shortages, supply bottlenecks and a resurgence of domestic COVID-19 cases. Meanwhile, the first bitcoin futures ETF is set to begin trading, propelling the digital currency closer to all-time highs. Here’s what you need to know to start your week. Market Technicals $SPX (S&P 500) U.S. stocks were higher as $SPX posted its largest weekly percentage gain since July, after major banks rounded out a strong start to Q3 earnings, though investors will stay on the lookout in the coming weeks for signs of impacts from supply chain disruptions and higher costs, especially for energy. The benchmark index $SPX rallied +1.82% (+80.03 points), closing the week at 4,471 level. $SPX have broken out of all major moving averages (notably its 20D and 50D MA) on the final day of the the week, a second follow through price action after an imminent intraday reversal on Wednesday session. The immediate support to watch for $SPX this week is at 4,320 higher low support level, potentially re-establishing its mid-term uptrend channel. Earnings Dozens of companies will be reporting in the coming week, including Tesla ($TSLA), Intel ($INTC) and Johnson & Johnson ($JNJ), as the first major wave of third quarter earnings results gets underway. On Thursday Netflix ($NFLX) kicks off third quarter reporting for the ‘FAANG’ group of U.S. tech giants Facebook ($FB), Apple ($AAPL), Amazon ($AMZN), Netflix and Google-parent Alphabet ($GOOGL). The video streaming company said “Squid Game” has become its biggest series launch ever and Bloomberg reported that the megahit will create almost $900 million in value for Netflix. Chinese GDP In recent months the Chinese economy has taken a series of blows from the Evergrande-induced property market crisis, outbreaks of the delta variant, an energy crunch, supply bottlenecks and soaring commodity prices. So, investors will be closely watching Monday’s Q3 GDP, which will be released alongside figures on factory production and retail sales. Economists are expecting growth in the world’s number two economy to have slowed to 5.2% year-on-year, the slowest in a year, from 7.9% in the previous quarter. China’s real estate sector, a key driver of growth, is reeling from rising defaults, with sales tumbling and construction slowing as Evergrande, once China’s top-selling developer, battles against default on more than $300 billion in debts. Bitcoin futures ETF The first U.S.-listed bitcoin futures ETFs are set to launch in the coming week, barring a last-minute objection from the Securities and Exchange Commission. The ProShares Bitcoin Exchange Traded Fund is scheduled to start trading on the New York Stock Exchange on Tuesday. A day later, the Invesco Bitcoin Strategy ETF, would also be allowed to launch unless the SEC blocks it. The ETFs will be based on bitcoin futures that already trade on the Chicago Mercantile Exchange rather than the cryptocurrency itself amid regulatory concerns over a potential lack of liquidity and the risk of price manipulation on spot exchanges. The launch of the ETFs could pave the way for a stream of similar products, potentially fueling a run higher for the world’s largest digital currency which hit peaks of $62,892 on Friday, not far from its all-time highs of $64,778
SP:SPXLong
by jfsrevg
Is Gold gonna make or break?I must say, after tracking Gold for years, I find that this year (2021) is particularly challenging... In any case, it is now in a larger weekly triangle, and I am left wondering IF the next few weeks will see Gold shift out of the triangle and break out upwards. Watch the green circle area... There is some serious support at 1750, but no ignition for take off - yet. Jury is still out, and while I project, I prefer to wait a bit for this one. Gold is a longer term mover, and one that tends to be more robust in its trends. Thing is 2021 brings in new dynamics...
COMEX:GC1!
by Auguraltrader
1