Gold UpdateRetesting support, rising bond yields starting to cause liquidity issues for stocks and commodities
GLD
Gold Due to Rebound from trough: LONG on Au $GLD Gold has dipped into a buy zone for a nice long now.
With the overall volatility of the market and overall uncertainty on the role of most investors, it is time for Au.
LONG Gold.
This lacks in terms of analytical depth but the low on the chart is overt enough to speak for itself. Now is a good time to enter.
-BDR
Gold, time to buyGold completing a very natural ABC correction off of a wave 5 upmove on the weekly chart. This is a good area to build long positions. Outside chance it hits $1710
Gold going funkyIt has been a while since Gold was looked into...
From previous analyses, Gold is indeed bearish of late, and revisited 1800 again, only to break down and closed the week below 1800. Furthermore, the last week closed below the 55EMA. This has not happened in a very long time, and may represent opportunities.
Technically, Gold is still bearish.
Noted the RPM indication that a consolidation bottom may form soon. This is corroborated with MACD possibly forming a bullish divergence. Meanwhile, there may be a flash crash of sorts to 1600 or at minimum to 1700 instead, in the weeks to come.
Clearly, being patient is key, drawing lines, and watching while preparing for the next up wave starts now.
celo ccld usd bull flag?rising channel with bull flag at the top? target of 6.70 or so
break out from all time high with volume
bitboy crypto and the rest of the world starting to notice this coin
lots of big name money backers
a real use case
a new coin under the radar reddit has only about 1500 followers
bullish fundamentals and chart
im holding for a while maybe trade half my position
Meanwhile, in other news.... Gold testing supportIf the support here doesn't hold, it's a long ways down to the next one.
Long term interest rates are crawling back up and COVID panic is long over, so it makes sense that gold is selling off.
GOLD LongI will be entering a swing long in Gold here.
It is somewhat risky given the downward pressure on Gold and the current correlation with equities but I believe the R/R to be very favorable here.
This is also based on my fundamental view of future monetary and fiscal policy.
The Fed has painted themselves into a corner where they are forced to employ ever more accomodating monetary policy.
This is unlikely to change given that they choose to ignore the obvious signs of inflation, pointing to the CPI which is clearly an inaccurate measure of actual inflation.
Furthermore, they have expressed that they are not really concerned about inflation anyways, and that maximum employment is their primary objective even if it comes with the cost of higher inflation.
The market seems to be pricing in a surprise increase in interest rates, but that's highly unlikely to happen given the reasons above and the fact that the Fed has said they will warn the markets before any rate hike is implemented.
What's more likely is that the Fed will continue their accomodative policy and buy bonds to force yields back down.
On the fiscal side, ever larger stimulus bills continue to be passed, primarily stimulating the demand side while the supply side is still shut down.
Even if we start opening up, it will take some time for the supply side to increase production sufficiently to cover the pent-up demand in the economy.
Based on these reasons I'm entering a swing long position with a wide stop in case there's a spike down to hunt stops.
Trade at you own risk.
Update on GOLD $GLD Price action looking to complete the right hand shoulder pattern. If we do complete this and not breakdown further, we are going back to the 2020 ATH and on target for a run to $2500 - $2900.
OPENING (IRA): GLD MAY 21ST 155 SHORT PUT... for a 1.62/contract credit.
Notes: Starting to build out second quarter positions here and what better way to start than with an underlying experiencing weakness. Already have an April on, so going out to May to sell the 18 delta strike.
GOLD: Keepin' it RealWhat would you do?
There seems to be heavy resistance at 18.50 and no real exciting support until 16.50.
The previous stimulus checks don't seem to have really moved the price of gold. Where's the inflation?
Normalized by DXY:
GLD: tracking two counts both bullish long termTwo primary counts for GLD that I'm tracking. Both are bullish long term however near term - next 12-18 months - could see continued correction.
OPENING (IRA): GLD MARCH 19TH 163 SHORT PUT... for a 1.78 credit.
Notes: Building up a GLD position a little bit here on this recent weakness. Targeting the strike that pays at least 1% of the strike price in credit, which here is the 22 delta 163. Going out to March, as I already have some on in February.
This Might Be a Little PrematureBut Silver rally seems like a perfect opportunity to sell to finance a nice purchase in what everyone really wants to store wealth GOLD!
AG (First Majestic Silver Corp)steady rising buy volume and and market sentiment has me looking to get into this one on Monday. Green lines are monthly levels that I am interested in for possible take profit areas $30+ quickly would not surprise me with the Silver hype/squeeze talk coming.
Time to visit 1800 again... GOLDGold going downnnnnn... revisiting 1800.
What's it gonna do when it comes for 1800?
GLD Trend AnalysisWe're continuing in this downward trend but primed to breakout to the upside. Accumulation/Distribution shows large accumulation dring tthis entire retracement
