tb1964

tb1964

The good news is that after this latest correction in gold no technical damage has been incurred. Gold is still well above its 200 DMA. In my opinion, the earlier overbought condition has now been completely unwound. Is this consolidation period over? I don't think so because seasonally October is traditionally the second weakest month of the year for gold. ...

tb1964 Updated 

I'm thinking this retracement is getting close enough for me to start adding back to my position here around $6.28. Seems to have come hard and fast. This could possibly retrace all the way down to 5.80, however, I've never been good at picking absolute tops and bottoms...good enough for me. Technically after redrawing my fib line, I wouldn't want to really see...

tb1964 Updated 

Silver getting heavily overbought on MACD, gold as well, not quite as much as silver, however, a retracement at this point could be in the works in my opinion. Looking to re-enter between 5.98-6.09 for the next leg after a period of consolidation. Just my opinion. good luck!

tb1964 Updated 

Looks to heading higher