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Bearish on Africa Gold minerWhy the Bearish on Gold miner? Africa is shut Down for 14 days!, all mining activity shutdown! Most Africa based miners are DOWN!! Pending follow up with more EURO shutdowns. sooo? SOOOOO, This company is up because Gold is UP, Please buy it because they think it's GOLD! EVEN So, people only buy gold due to fear of recession bets and fear of the weak dollar. But guess what? GOld will crash if we have a flash crash anyways!!! that means, we will win, if market crashes hardcore, and we would win if market continues to rally up and cancels recession fear. Win WIN AU- Short Shares IDEAL on Short entry - $24.50 Buy to cover $16.23 buy to cover Trailing stop $4
NYSE:AUShort
by WallSt007
4
Technicals for Gold: First Trading Week of GoldIf you think the rioting and looting are bad now, wait until the supplemental unemployment benefits expire, or inflation wipes out their value. What happens when price controls or rationing lead to food and power shortages? What we're seeing now is but a glimpse of what's coming. Powell admitted the Fed crossed a lot of red lines that had never been crossed before, but that given the situation it was necessary, and the Fed would figure it our afterward. It's the Nancy Pelosi version of monetary policy, "we need to print the money to see where it goes." The UMich Consumer Sentiment Survey unexpectedly fell to a 7-yea r low of 72.3 in May, down from 73.7 in April. The expectation was for a rise to 74. To me the surprise isn't that the number dropped, but that it didn't drop by more. The outlook is far worse than consumers realize. The Chicago PMI collapsed to 32.2 in May, its lowest level since 1982. Analysts had expected a recovery to 40 following the 35.4 print in April. While investors continue to expect a V-shaped recovery, the data continues to show that the economy is far weaker than most believe. Maybe the real reason GoldmanSachs is so bullish on the dollar is that as a primary dealer of U.S. Treasuries, they have a lot of dollars to sell. If Goldman's clients realized the dollar's fate, they wouldn't buy any Treasuries. Whether default or inflation, loss is inevitable.
OANDA:XAUUSDLong
by TayFx
7
Gold Bullish PennantGold(GC1!) closed at $1,713.3 today for a $12.4(+0.73%) gain. Price has formed a pennant formation which given the fact that it has formed after a move to the upside makes it a bullish price formation. The expected move here is a push above the upper line of the pennant and re-test of the $1,800 level. A move below the lower line of the pennant would indicate a failed bullish pennant, with the current stop-loss for long trades resting just below there near $1,660 shown in blue. The Relative Strength Index(RSI) shows the green RSI line trading just above the 50 level and indicates bullish short-term momentum behind price. An RSI reading above 50 indicates bullish short-term momentum while a reading below 50 indicates bearish short-term momentum. The purple RSI signal line is also above the 50 level which indicates bullish intermediate-term momentum behind price. Right now the green RSI line and purple signal line are overlapping with the green RSI line looking like it wants to push back above the purple signal line. The green RSI line rising and trending above the purple signal line would indicate healthy bullish momentum. The Price Percent Oscillator(PPO) shows both the green PPO line and purple signal line above the 0 level which indicates intermediate-term bullish momentum behind price. A reading above 0 indicates bullish momentum while a reading below 0 indicates bearish momentum. While both lines are above the 0 level, they are declining with the green PPO line below the purple signal line and indicates a loss of upward momentum in the short-term. The Average Directional Index(ADX) show the green trend line above the purple trendline which indicates that the short-term trend direction is bullish. The histogram behind the green and purple directional lines is declining though which indicates that the upward trend direction has lost strength. In general during an uptrend, you want to see the green line rising above the purple line with a rising histogram. Volume has been low since late March, should price break out to a new local high above the pennant pattern we would want to see volume increase in order to sustain a move higher. The overall view on gold remains bullish this year with the expectation that gold will test and make a new all-time high above $1,923 which was set in September 2011. In the short-term we want to see price hold above the stop-loss level in order to maintain bullish bias, as well as continue to trade above the short-term stop-loss level.
COMEX:GC1!Long
by PrepForProfit
1