Metals
gold oil3.31.20 Gold. Oil. A MUST SEE VIDEO ON COVID 19. My opinion on markets that are high opportunity markets to be in for the next 1-2 years.
EUR/USD pullback to 61.8% fib ?See chart for details, still bullish but will we have a pullback first? stay sharp stay focused on candlestick formations at key areas
black circle and blue circle rsi 50, stoch 50 and ma 50I'm using stochastic for analysis, but sometimes RSI needed for this kind of case
black circle bearish rejected at RSI 50 zone, then we see a continuation of bullish trend
now blue circle both stochastic and rsi under 50
MA 50 now become last barrier for bearish trend
we will see...
A chart of an observation in gold $spy $spx $gld #gold #stocksIt is very interesting that in 2008 gold also dropped so substantially during the crisis however it actually ended up bottoming first and then rallying much higher.
The margin call pitch on gold that stunned many gold bugs when equities crashed can be explained by looking at this likewise extreme event in the past.
Enjoy the chart.
review3.17.20
GOLD SILVER DXY COPPER ENPH OIL: I think it's important to know why the dollars going higher, and gold is going higher. when markets have very large corrections lower this forces commercial funds and other traders to sell the good and the bad to meet margin requirements. In 2007 or eight when the market took a nosedive gold went lower and the dollar went lower. The reason for this is that large funds will sell their goal position, and countries will sell their gold position to meet margin requirements or other requirements that are transacted in the dollar. So you may want to buy gold when the markets correcting from a high in the markets moving catastrophically lower, but you may be perplexed why the gold is going lower when everything appears to be so unstable. I misstated the description that you could hear from the fund manager of Brent Johnson of Santiago fund.
if oil is in a bear flag and makes a new low, I would be looking for a buying tail to get long. I think silver will reverse and go higher and that this is a capitulation move even though it has not impressively moved off the recent bottom. I believe the price of silver is near or below the production cost for many of the silver mines, it is ridiculously low, and gold retested at 382 and bounced off of that and looks like it might be heading higher to me. When in doubt, stay out... but you can follow the market anyway. Copper traded the pattern beautifully and came to the support; I think of Copper is one of those markets you don't have to trade frequently which means you don't have to spend all day looking at it. I think ENPH is going to move higher from here.
GOLD, RECESSION AND DJIHave a look-listen. I explore what happened with Gold in relation to the DJI going back to 2008-2009. Then I'm back up to 2020.
4H stochastic analysis + full 5 wave count of Elliott WaveI made this chart to show the example of using stochastic to help determine the wave
Of Course, this is not perfect...
1. need to use fib
2. trend line needed (black arrow)
3. the knowledge of high volatility , when fib exceed 168%
4. the case when gold retrace too small (like 0.27 retracement instead of 0.382)
5. when the fractal (small time frame movement really weird and does not add up)
6. THATS WHY MINIMUM 1 H TIME FRAME NEEDED
7. DON'T USE THIS TECHNIQUE ON 5 minutes and 15 minutes time frame, gold like to SL hunt at those timeframe
Copper to rally if wedge holdsCopper rally by 33% possible to test long term 50% retracement of B wave by Jan or Feb 2021 completion expected around this time.. Due to Global money printing, helicopter money and stimulus post Corona virus. This gives us a clue one more top in Global equity is left until Feb 2021...
FLASHING RED!! BRACE! 🚑😲This is serious picture emerging right now. Have a look. I'm watching what's happening with Gold in relation to the Down Jones Transportation Index, and Bitcoin. This is all coronavirus related.
In tight summary, the smart money is moving into things that store real value - the kind that's unlikely to be affected by central banks.
Disclaimers : This is not advice or encouragement to trade securities. No predictions and no guarantees supplied. If you make decisions based on opinion expressed here and you lose your money, kindly sue yourself.
ARE YOU SHORT ON SILVER? GOLD? MUST READ!Concerned. Had always dismissed claims that silver would not be available when the time came but tonight, I've just noticed apmex.com (a top online retailer for precious metals) has now listed many of the top selling 1 OZ SILVER BARS as PRE-SALE ONLY. AKA SOLD-OUT. Then I checked the smaller sub ounce gold coins. Same story.
Wonder what happens next?
FOREXCOM:XAGUSD TVC:SILVER TVC:GOLD OANDA:XAUUSD OANDA:XAUEUR FX_IDC:XAUCNY OANDA:XAUJPY AMEX:JNUG AMEX:JDST AMEX:GLD AMEX:GDXJ AMEX:GDX AMEX:BTG NYSE:GOLD AMEX:NGD FX_IDC:XAGUSD AMEX:SLV
Gold need to hold 1430 to 1440 for Wave 3 to continueGold need to hold 1430 to 1440 for Wave 3 to continue .. Going break the support around 1550 is also not bulish.. let us watch for next few weeks on months..
If 1800 crosses we can expect 2500 in next five years.. As of now i have negative bias to go below 1550 and 1400.. let us watch it
Gold vs Ringgit, Safe Haven against Political MessMost Malaysians don't know that Gold is doing quite good versus ringgit, and Gold versus Ringgit is in a PARABOLA, which may continue to go higher in the future. That's why I don't hold any fiat or cash. Fiat or cash are only losers.
Tried to educate them, sadly, most of them don't know and don't care about investing, they care more about politics and other stuff. Nothing much can be done.
