From a chart technical perspective we are nearly at the highest point of the cyclicality. It’s unbelievable if you recognize how many years it’s costs to stay there where we are. Anyway, if we see at the fundamentals right now, it doesn’t seems that bad for gold: - inflation isn’t peaking - Russia Ukraine could getting more worse (I don’t hope so) - Gold is...
Gold did it again. Smashed my shorts. Still what happened in the red rectangle does not allow me to interpret the recent development as a bullish move. I keep watching for a turnaround. Though now it is again extremely challenging, and there is no divergence against the RSI. I remember I hesitated to label the recent abrupt sell-off as 5 wave impulse thinking...
Will the market just stall for a decade or 2 as we work through the debt and allow the economy to catch up? at which debt to gdp and sp500 levels will the debt level be healthy? SPY GLD SPX QQQ TLT IEF DIA VTI AAPL
Gold keeps holding up pretty well despite the prospect of upcoming rate hikes in 2022. It continues its choppy price action within the neutral zone between 1750 USD and 1835 USD. At the moment, it trades slightly below the upper bound of the neutral zone which increases odds of yet another bullish breakout. We noted previously that we expected such breakout to be...
-Bullish pennant daily chart pattern. -Long term bullish in gold/commodities with inflation and with potential inflation rated. -Buy low/Sell high. -Potential stop loss hunt when the price gets more squeezed closer together. Normally a big explosive move to the upside comes from this. -I could see a fake-out to the downside and trap a lot of traders then the big...
To answer your question of are we still in wave i, I would say no. We may have passed right through wave ii and on to our next descent.
The narrative on gold and silver is provided within the Weekly Update following status in my profile.
I continue to hold a bearish bias towards gold despite yesterdays recovery and a powerful bounce. Again it is too speculative to label the count. I do not dismiss the idea that whatever is happening now could be a leading diagonal. It is interesting to see how it corresponds to the crypto market. I will cover it in my Weekly Update.
as said, the writing is on the wall. with the dxy rolling over now, gold has an easy path to 2000+
Here is a downtrend continuation setup once price starts to retest and close under 1800. NFP is Friday & I am expecting a low to made around 1765 before any pull back.
A break down of the rising bearish wedge (on low volume) is a huge warning shot fired. The measured move is 30 cents. I think a head and shoulders forms.
In 2005 breakout, we saw lower highs and higher lows, In 2009 breakout, we saw lower highs and higher lows. This didn't reach it's peak until 2011. What will come next with our current setup?
Despite a very impulsive move, gold waves are difficult to count. I even assumed on this chart that the whole move could be wxy in wave 1 of a leading diagonal. There is no divergence on RSI meaning that there should be new lows very soon. At the same time gold can easily rip shorts in a very sharp countertrend move. Gold is notorious for doing wild unexpected...
Hello Enthusiast Forex Trader! Here's Long-term outlook for USDOLLAR , Support the Channel by smashing the FOLLOW and LIKES Button, then Share your opinion on the Comment Section below :) *USDOLLAR creates a Descending Broadening Wedge pattern on Daily Timeframe *USDOLLAR is moving above the Exponential EMA200 and bullish trendline *Stochastic is pointing up in...
This review comes from evaluation of prices from multiple markets including Silver, Gold, Bitcoin/crypto and Stocks (specifically sp500) Silver has increased volume on the daily chart and dropped sharply 3-5% Gold similarly has sharply dropped with increase volume SP500 also has plummeted over the past couple weeks. There is mass exodus in multiple markets...