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GLD

Gold Miners ETF, GDX bullish potentialThe weekly chart closed the week nice candle that had a long bottom tail, albeit a red candle, but bullish indication here. The daily chart had GDX gap down on Friday's opening, then rally hard to close a bullish engulfing, spanning across a resistance zone. This can form the higher low point later next week. Indicators are not yet bullish, but candlesticks are suggesting the end of the massive retracement with bullish signs and patterns.
AMEX:GDXLong
by Auguraltrader
The Gold Odyssey - time to flyA quick note to say that as previously expected, the deep retrace happened, and had bottomed out. The last week closed with a bullish candle with a 5 week high close, that bounced off support from the weekly 55EMA, and broke out of the trendline resistance. Technical indicators have yet to turn around. The daily chart shows Friday's surprise surge in Gold prices, closing on the recent weeks high. Thing is that the technicals are not yet very supportive of a rally, although there already are optimistic indications. Gold is going up!
COMEX:GC1!Long
by Auguraltrader
Gold Ready for Multi-year Bull MarketGold has been waiting in the wings while equities, commodities, and more speculative assets like crypto aggressively took off following the COVID-19 shakeout. Metals, on the other hand, saw very little growth. However, given the market conditions surrounding inflation and a hyper-inflated equities market, housing market, and commodities market, there is a LOT of capital on the table waiting to rotate. As the dollar surges in strength vs other major world currencies (see ticker $DXY for reference) bloated that saw incredibly large returns over 2019-2021 are now seeing bleeding declines. The strength of the dollar is enticing and I expect to see continued profit taking from equities, crypto, and commodities. The real trick is understanding where the money will likely flow to once all the profit taking has concluded. One asset class that I believe will do very well over the next 5-10 years is metals -- specifically Gold. Gold appears to be wrapping up a consolidation pattern known as a "cup and handle" . The projected price target of a Cup and Handle is calculated by measuring the distance from the bot tom of the cup to the top of the cup . Take that measured distance and project it to the breakout level and you'll have your target: . This target doesn't necessarily mean the trend would conclude there, but it would be an initial price target and likely be a point where the market will for some sort of consolidation structure. When we look at the trend metrics like Bollinger Bands and Ichimoku Cloud analysis, gold displays all of the characteristics we would associate with the beginnings of a bullish continuation of the trend. Bollinger Bands : If you're new to Bollinger Bands (bbands), you can think of them as a tool that measures and forecasts volatility of a market. The more constricted the bands are, the more the consolidated the market is, and the more spring-loaded the market is. If we have a highly consolidated market, we can think of this as a coiled, compressed spring that is ready to release all of the stored energy . At the moment, Gold is showing a very very consolidated market and is trending very nicely above it's bbands midline: . As an objective metric, markets that are trending above the bbands midline are said to be in a "bullish trend" and markets that are trending below the bbands midline are said to be in a "bearish trend". For Gold, it is decisively a bullish trend. Ichimoku Cloud : Ichimoku Cloud can look very complicated, but when you know what you're looking at, it can actually be a very simple and useful tool to gage the strength or weakness of a trend. Without going terribly in-depth, my gold standard (pun intended) for a highly bullish trend is seeing: 1. The price is trending above both the fast and slow moving average 2. The price is trending above the cloud 3. The lagging moving average (the yellow squiggle) is above the price 4. The cloud is green For my trend system, i add additional criteria using the 50 and 200 EMA (exponential moving average): 1. Price should be above both the 50/200 EMA 2. 50 EMA should be trending upwards above an upward trending 200 EMA Long story short -- Ichimoku Cloud is showing a perfect bullish trend for the most part TLDR: Gold is a slow moving ship and has fallen off of most peoples radar. I think the next 5 years will be a very very strong market and Gold will see upwards of 80-300% growth. Gold tends to be a hedge against economic uncertainty and all of the fundamentals for a massive flight to gold are here
COMEX:GC1!Long
by Bitcoin_Schmitcoin
2
The Gold Odyssey - retracement done AS previously described, Gold was in a deep retracement, and it appears that this week, the retracement is done. Weekly chart shows a reversal candlestick pattern over the past three weeks, finding the week's close at a resistance level. Look for a breakout in the coming weeks, as Gold closed above the weekly 55EMA this past week. Do note that previous mapping of the handle (Cup & Handle formation) it shifted forward; and 2080 high is expected to be broken around November 2022. The daily chart show a higher low, and technicals are turning bullish. The retracement was nicely above 1800, and has a potential 20% upside to 2080. Possible for consolidation to near 1800-1820, and would be looking for clarity in the coming weeks. Meanwhile, would be good for the USD to ease off a little. hehe. Stay safe and well...
COMEX:GC1!
by Auguraltrader
Gold - losing it's shineLook for a retest of last week's break of trend, around 1850 or so for a short. DXY will keep rallying for years in my opinion, but yeah there will be breathers and gold will catch a bid for a few days/weeks. To me Gold is ready for a lot more downside especially with so many bulls still in this market. Someone will probably let me know about physical gold or silver and how the demand is through the roof - yeah, you're getting that info from Gold Dealers. Um, ok? Anyway, I don't care. The chart is bearish.
COMEX:GC1!Short
by the_sunship
GOLD - GC 2 HourA correction in the DX will provide Flow Info for Gold should the Peak Inflation narrative capture the mindshare short term. Gold is on a knife's edge. Boom boom directly ahead. 1780 to 1690 remains the lower range, with 1828 the short term pivot, with 1888 the Key level for a retest of the higher end of the short-term range. _________________________________________________ The COT has remained aligned against the Specs for some time, it has been largely ignored by most NextGen Goldbugs who are malinforned and susceptible to the decade long traps sprung by the usual suspects. How many fines has JOM paid for rigging the COT over the past two decades? Too many.... A DX turn will excite the Bugs. "it's time to Buy" .... yeah, naw, another chase trap is all it will amount to within the Buy Zone. Change of trend will be the new narrative - wash, rinse and repeat for the Yellow Dawg. Gold has Zero real utility for the coming years... Against the Monetary Base Gold has been Left for Dead, the ST Louis Fed maintains the Data. ____________________________________________________ Expect actions shortly, with increased VX.
COMEX:GC1!
by HK_L61
DX DXY USD - Dollar 2 HourAfter reaching parity with the Swiss Franc Facta, the DXY peaked ST over 1.05. Our TOSS level was 104.55, it has been met Short Term on a Throw Over. It's nowhere near done moving higher, but for now, will range to digest a large move into the Safety Trade It did peak while sentiment was reaching extremes unseen. Again we do not expect Extreme Fear readings to give up much more than a persistent Fear Reading. Only Direct Subsidies to Consumers and FMonetary/Fiscal Pivots will resolve the embedded Senticators. ____________________________________________________________________ My long-standing FX Accident Thesis is well underway and will continue into October of 2023. A new Low at the close of the session sends the DX lower, a potential distribution is setting up nicely Shorter Term. We'll need to see if this ends up with a larger distribution. It well may be turning slightly on this pattern. Observing the reaction on Gold will be telling, it did hit my PO @ 1798.90 dipping in ever so slightly. Gold is reaching a DOM demand level. The COT remains in a SELL for Large Participants. Is a surprise in store, there appears to be one waiting in the shadows.
ICEUS:DX1!
by HK_L61
1
The Gold Odyssey - retrace & relaunchQuick note that previous projections to 2100 still maintained and appear to be on track, despite a recent retracement in Gold, partially due to the sudden rise of the USD. Although Gold prices fell below the daily 55EMA, today (5th May) saw a gap up in Asian hours after opening. There is a strong follow through (Gap and Run) and IF it closes at this level, then technically, Gold is likely to be back on the uptrend again. Watch as the MACD is turning upwards to crossover. May is an important month to break out of consolidation.
COMEX:GC1!
by Auguraltrader
2