Skipper86

Skipper86 Updated 

The GLD price action during this recent market crisis appears very similar to 2008. If gold prices move the same way they did in 2008, we'll see a drop from here followed by a strong rally.

Skipper86 Updated 

The market may bounce out of the current ascending triangle formation up to 2700 which is a previous support/resistance level upon announcements of monetary and fiscal stimulus plans. I'm 40 percent confident this will happen, just throwing a number at it based on gut feel, not using statistics or anything. Minor Elliott wave "A" should be complete around 2000...

Skipper86

No, I am not serious, but you never know, a lot of jobs have been shipped over seas since the 90s. Perhaps the line labeled "support" represents the real support of the market and the price action above it is all bubbles of debt and speculation.

Skipper86

I firmly believe this is headed lower in the days and weeks ahead. In trying to determine the next major level of support, I've found it to be where the green triangle is, around $210.00.

Skipper86

If the market reaches new lows this month, the next fib retracement level is 1.618 which is $250. This level coincides with the long-term trendline going back to 2009. The green rectangle shows the area of resistance.

Skipper86

The RSI seems to trend down with the price which bounces off of a well-established trendline once the RSI down trendlines are broken. I think if the RSI breaks the lower RSI channel line, the price will go down, if it breaks the upper downtrend line, the price will go up.

Skipper86 Updated 

A possible bearish flag may be nearing completion. This was constructed using visual analysis and trendlines.

Skipper86

Intersection of trend and channel lines coincide with February earnings report. Maybe this will happen. Not placing any bets.

Skipper86 Updated 

Double Top reversal with volume-confirmed intermediate-term downtrend with minor upward fluctuation approaching support. Reversal point expected in coming days. Historical corrective downslope used to anticipate minimum downward trajectory of intermediate trend.

Skipper86

I used Fibonacci time zones to anticipate the next reversal point and a Gann box to check the retracement. The future trajectory is based on the trajectories of recent corrections.