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GLD

Gold broke down... hello 1800And we may see 1600 for Gold (GC1!) if 1800 does not hold. Gold had been stalling and consolidating, wondering what to do over the past three weeks. Had projected earlier that it is on the way down to 1800, and then as far down as 1600. Even earlier, mid-August was the targeted date for a Gold top and that was done... so now, with technicals supporting the downdraft, and Gold futures breaking down, it is even more likely 1800 would be reached very soon. Overall, Gold is in a secular long term robust bullish trend and I would be wary to short it; just that the volatility is high, so the range is way broader.
COMEX:GC1!
by Auguraltrader
2
Gold is tilting to fall over...Given my previous analyses, Gold kept to the mid-August high, attempted a breakout of the triangle and fell back in... which is bearish by nature telling of an exit point at the other (down) side. Since the media called the results of the US elections, the USD had been in a volatile flux, and so is Gold, albeit consolidating in a range nonetheless. A close below 1860 will mean it’s going down quickly to 1750 to meet the 55EMA. MACD is downtrending and suggests this scenario. However, a drop to 1600 was projected previously, but the Relative Price Strength suggests that might be a bit further, if at all. Many moving parts to this outlook... 1. Gold looks weak as technical breakout failed and expecting a fall out on the other end of the wedge. 2.MACD indicates, with Price RS weakening, and Net Non-Commercial Interest (orange line, lower panel) continue to wane while Top 8 traders start to go more net short (yellow line, lower panel). 3. Dependence on the USD strength only for downside risk. The recent USD weakness did nothing to Gold’s rally (for the first 2.5 weeks of November. However, the USD rebounding strength is likely to enhance Gold’s weakness to the downside. 4. Noted a surge in BTCUSD (Bitcoin) and some other selected Cryptocurrency. This looks like a leak in the money flow system where and “alternative gold” is favored due to the lack of Risk-On. Watch out for Gold in the near term downside risk. It will come back but needs a good pullback, as it usually does.
COMEX:GC1!
by Auguraltrader
Everything Update 11.20.20Taking a look at the weekly progress of multiple correlated markets and updated price targets: Bitcoin, Gold, Silver, USD, S&P500 Bitcoin Excluding the March mayhem deviation in price, weeks ago there were hints of a parabolic trend starting to develop. The breakout of a macro downtrend and weekly candle close above it was the buy signal. Using macro fibonacci extensions I'm still anticipating a relentless squeeze with occasional dips to the longer term target of about $33,700, and will be watching for volume to start trending up. US Dollar Weeks ago it appeared a consolidation pattern was forming and momentum was to the downside. I am still projecting one more leg down followed by a swift rebound up to the 200 week E M A. Eventually rolling back over to the longer term target below. Gold Not much changed with gold this week. Looks like a base is still building at the previous all time high levels. Using macro fibonacci extensions, the intermediate term target is still $2300ish. Next buy signal for Gold is a break out of the downtrend with the daily MACD above zero. Silver Weeks ago a consolidation pattern was forming. Now that pattern has been validated and a breakout is imminent. Target $35ish. Using the macro fibonacci extensions the longer term target looks to be around $58 or even $86. SandP 500 Lots of speculation of a crash here. My thoughts are that reality lies somewhere in the middle and money will flow into the SandP stocks that have not fully recovered yet. I'm looking to buy short term dips, especially near the grey bars where heavy volume came in previously. If the dollar continues it's descent into the abyss then the SandP, along with all the aforementioned markets, will surely go up, up, and away. Trading is risky. Don't do it and don't listen to me. Long Crypto: BTC, ETH Gold: MGCG21, PHYS, GDX, other mining stocks Silver: SLV, CEF Other Equities: Oil/Gas stocks, TCEHY, BABA, and others
BITSTAMP:BTCUSDLong
by ryan-snk
Bitcoin is going to the high... then what? Look at Gold!It is readily apparent by now that BITFINEX:BTCUSD is on a run for the last ATH. When the price of something is this close to such an obvious level with momentum it is a very high probability bet it is going to reach it and even break it. But what then? You have to BE SMART. A lot of people that don't watch this video are going to FOMO and I pity them but hopefully it comes with a lesson. That lesson they will learn one can already learn by just looking at the chart of AMEX:GLD this year.
AMEX:GLDLong
by norok
4
Gold just setting up a nice top...Technically, Gold is setting up a series of lower highs and should be testing the recent lows soon. The breach below to close below the red support line of 1848 in the next two weeks should see Gold finally retracing decently. MACD should break down into the bearish territory, and the Relative price strength also turn negative. This premise appears supported with the non-commercial net positions (orange line, lower panel) getting less net long and about to break down the trendline support; as are the Top 8 traders net positions being more net short (yellow line, lowest pane) having already broken th dip trend support line. Price target expected of about 1600 in December 2020.
COMEX:GC1!
by Auguraltrader
1
Gold and the next leg upGold looks like it's about to make a new leg higher but will it also drop 5-7% first? The dollar and gold tend to create very distinctive price cycles if you know how to look for them. Renko helps to see these price cycles and time seems irrelevant to them. I am seeing a cycle low in the works now but I'm not sure if it's complete yet. I will venture to say it's going to drop down into the 1700's before the next leg up but I'm not sure if we'll get that lucky. See my forecast on GDX (gold miners) and how this analysis could agree with that one. Smart money likes to flush the boys out so I am just expecting a wild ride here soon.
FX:XAUUSD
by gghsusa
Goldaholics AnonymousGold is zooming. Why? The DXY. As we can see on the monthly DXY chart, the developing pattern parallels history. 1. It bounced off the 200 EMA 2. It broke trend, retested, and failed 3. It collapsed The RSI and MACD are weak What happened to Gold last time DXY collapsed? Trading Signals Buy Signal: Weekly RSI lows Sell Signal: Weekly RSI highs See previous posts for fibonacci extension targets. Long MGC futures Feb(G)2021 Trading is risky and should not be attempted, ever.
TVC:GOLDLong
by ryan-snk
3
Silver 40 Year Cup and HandleThe disconnect between physical and paper markets is considerable. The paper markets represent $5T whereas there is a $20B market for physical silver. If the price of silver were based off the total market, silver's price value would be roughly $5000/oz. Not saying silver is going there but this is decades of manipulation and curving demand from the physical market to paper all while buying up the physical silver for themselves. There is definitely an extreme undervaluation here and once the leveraged naked shorts get wiped out, silver will moon.
COMEX:SI1!Long
by Three-Bull-Insight
#SLV Almost Ready for the Continuation#SLV Setting up a bullish pennant on weekly and daily time frames. High volume run ups are usually followed by a period of consolidation before a continuation/reversal. Once silver breaks above the upper trendline and clears 23.55, SLV should start its move to $30+ by the end of the year. This is just the start for silver and gold and if it isn't a part of your portfolio yet, I'd strongly consider it. Do your own due diligence as always.
AMEX:SLVLong
by Three-Bull-Insight