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GLD

Gold is tilting to fall over...Given my previous analyses, Gold kept to the mid-August high, attempted a breakout of the triangle and fell back in... which is bearish by nature telling of an exit point at the other (down) side. Since the media called the results of the US elections, the USD had been in a volatile flux, and so is Gold, albeit consolidating in a range nonetheless. A close below 1860 will mean it’s going down quickly to 1750 to meet the 55EMA. MACD is downtrending and suggests this scenario. However, a drop to 1600 was projected previously, but the Relative Price Strength suggests that might be a bit further, if at all. Many moving parts to this outlook... 1. Gold looks weak as technical breakout failed and expecting a fall out on the other end of the wedge. 2.MACD indicates, with Price RS weakening, and Net Non-Commercial Interest (orange line, lower panel) continue to wane while Top 8 traders start to go more net short (yellow line, lower panel). 3. Dependence on the USD strength only for downside risk. The recent USD weakness did nothing to Gold’s rally (for the first 2.5 weeks of November. However, the USD rebounding strength is likely to enhance Gold’s weakness to the downside. 4. Noted a surge in BTCUSD (Bitcoin) and some other selected Cryptocurrency. This looks like a leak in the money flow system where and “alternative gold” is favored due to the lack of Risk-On. Watch out for Gold in the near term downside risk. It will come back but needs a good pullback, as it usually does.
COMEX:GC1!
by Auguraltrader
Everything Update 11.20.20Taking a look at the weekly progress of multiple correlated markets and updated price targets: Bitcoin, Gold, Silver, USD, S&P500 Bitcoin Excluding the March mayhem deviation in price, weeks ago there were hints of a parabolic trend starting to develop. The breakout of a macro downtrend and weekly candle close above it was the buy signal. Using macro fibonacci extensions I'm still anticipating a relentless squeeze with occasional dips to the longer term target of about $33,700, and will be watching for volume to start trending up. US Dollar Weeks ago it appeared a consolidation pattern was forming and momentum was to the downside. I am still projecting one more leg down followed by a swift rebound up to the 200 week E M A. Eventually rolling back over to the longer term target below. Gold Not much changed with gold this week. Looks like a base is still building at the previous all time high levels. Using macro fibonacci extensions, the intermediate term target is still $2300ish. Next buy signal for Gold is a break out of the downtrend with the daily MACD above zero. Silver Weeks ago a consolidation pattern was forming. Now that pattern has been validated and a breakout is imminent. Target $35ish. Using the macro fibonacci extensions the longer term target looks to be around $58 or even $86. SandP 500 Lots of speculation of a crash here. My thoughts are that reality lies somewhere in the middle and money will flow into the SandP stocks that have not fully recovered yet. I'm looking to buy short term dips, especially near the grey bars where heavy volume came in previously. If the dollar continues it's descent into the abyss then the SandP, along with all the aforementioned markets, will surely go up, up, and away. Trading is risky. Don't do it and don't listen to me. Long Crypto: BTC, ETH Gold: MGCG21, PHYS, GDX, other mining stocks Silver: SLV, CEF Other Equities: Oil/Gas stocks, TCEHY, BABA, and others
BITSTAMP:BTCUSDLong
by ryan-snk
Bitcoin is going to the high... then what? Look at Gold!It is readily apparent by now that BITFINEX:BTCUSD is on a run for the last ATH. When the price of something is this close to such an obvious level with momentum it is a very high probability bet it is going to reach it and even break it. But what then? You have to BE SMART. A lot of people that don't watch this video are going to FOMO and I pity them but hopefully it comes with a lesson. That lesson they will learn one can already learn by just looking at the chart of AMEX:GLD this year.
AMEX:GLDLong
by norok
4
Gold just setting up a nice top...Technically, Gold is setting up a series of lower highs and should be testing the recent lows soon. The breach below to close below the red support line of 1848 in the next two weeks should see Gold finally retracing decently. MACD should break down into the bearish territory, and the Relative price strength also turn negative. This premise appears supported with the non-commercial net positions (orange line, lower panel) getting less net long and about to break down the trendline support; as are the Top 8 traders net positions being more net short (yellow line, lowest pane) having already broken th dip trend support line. Price target expected of about 1600 in December 2020.
COMEX:GC1!
by Auguraltrader
1
Gold and the next leg upGold looks like it's about to make a new leg higher but will it also drop 5-7% first? The dollar and gold tend to create very distinctive price cycles if you know how to look for them. Renko helps to see these price cycles and time seems irrelevant to them. I am seeing a cycle low in the works now but I'm not sure if it's complete yet. I will venture to say it's going to drop down into the 1700's before the next leg up but I'm not sure if we'll get that lucky. See my forecast on GDX (gold miners) and how this analysis could agree with that one. Smart money likes to flush the boys out so I am just expecting a wild ride here soon.
FX:XAUUSD
by gghsusa
Goldaholics AnonymousGold is zooming. Why? The DXY. As we can see on the monthly DXY chart, the developing pattern parallels history. 1. It bounced off the 200 EMA 2. It broke trend, retested, and failed 3. It collapsed The RSI and MACD are weak What happened to Gold last time DXY collapsed? Trading Signals Buy Signal: Weekly RSI lows Sell Signal: Weekly RSI highs See previous posts for fibonacci extension targets. Long MGC futures Feb(G)2021 Trading is risky and should not be attempted, ever.
TVC:GOLDLong
by ryan-snk
3
Silver 40 Year Cup and HandleThe disconnect between physical and paper markets is considerable. The paper markets represent $5T whereas there is a $20B market for physical silver. If the price of silver were based off the total market, silver's price value would be roughly $5000/oz. Not saying silver is going there but this is decades of manipulation and curving demand from the physical market to paper all while buying up the physical silver for themselves. There is definitely an extreme undervaluation here and once the leveraged naked shorts get wiped out, silver will moon.
COMEX:SI1!Long
by Three-Bull-Insight
#SLV Almost Ready for the Continuation#SLV Setting up a bullish pennant on weekly and daily time frames. High volume run ups are usually followed by a period of consolidation before a continuation/reversal. Once silver breaks above the upper trendline and clears 23.55, SLV should start its move to $30+ by the end of the year. This is just the start for silver and gold and if it isn't a part of your portfolio yet, I'd strongly consider it. Do your own due diligence as always.
AMEX:SLVLong
by Three-Bull-Insight
GOLD - Route To 2400+ After ElectionsHello everyone, Andrew here, want to start with, This Is Not a Political Preference or statement. If you look at the chart, you'll see either party will take Gold to it's next all time high. For different reasons, Gold will react volatile to this next presidential election. The color of the route represents the political party, Red of course is the existing party and Blue, it's rivals. The path for each party is based on my personal feelings on how I think Wall Street will react, in turn affecting short term Gold prices. That said, investors find Gold as a safe haven for uncertainty in our economy. The reason I feel the Red route will see a dip is because Wall Street should react positive. Why will Wall Street react positive? Less uncertainty in the economy. Changing parties makes investors nerves. Why do I think Gold is going to 2400 and higher? Gold will continue its current path, but, may see a large boost soon after the election. With US Civil War looming, Debt, Gold manipulation letup, Political agendas and Record Spending, Gold has a very bright future IMO. Will Gold hit $2400 in my time frame? In my dreams? lol... I am not an investment advisor, please do your own homework and seek professional help before investing, period.
TVC:GOLDLong
by Vascoins
3
Short-term bounce on DXYThanks for viewing. Following because of USD holdings and USD denominated assets - including assets negatively correlated to the USD - like gold. USD held as a hedge against weaker local currency and against gold positions. Whatever your personal belief on Elliot Wave, I am not imagining a very clear 5 waves down (labelled (i) to (v), since the march 2020 high. There are 5 sub-waves evident in each of the three down portions and none of the EW guidelines, tendencies, retracements, extensions, or rules are broken for an impulse move (i.e. wave 2 tends to be deeper and reached a 50% retracement, wave 4 is normally a shallower more correction and hit the 0.382 retracement level almost exactly). Long story short, this an impulse move that meets all normal characteristics, so I am charting out what that could mean for price if it continues to follow stereotypical EW tendencies - a 3 wave correction. Overall, I see the relative valuation of the USD vs the DXY currency basket as heading downwards as in my, possibly overly pessimistic view, the USD loses both it's safe-haven and global reserve status. However, my bearish view is primarily based on the chart. I will post a longer-term chart next. Remember all fiat currencies are losing value over time, some are just losing value more quickly. I hope everyone who hasn't already considered a physical precious metals position (no not a gold or silver ETF position Millenials) will do so, even just as a hedge. Some major hedge funds have positions sizes of around 10% of assets in gold - maybe they know a thing or two. Actually, I will permit myself a digression here. You cannot ask for physical delivery from a precious metals ETF unless you have a significant position and I would think that in the event of a bullion / monetary crisis that option may no longer be available. So any gains are just paper gains. The Custodian of the world's largest gold ETF was in the news last week as one of the major banks involved in the suspicious activity report (SAR) scandal (while they were already on probation for previous wrong-doing) - which I expect to result in major litigation and fines. But wait, that is not all! They just popped up in my news feed again today as an alleged facilitator of transactions between Huawei and US sanctioned Iran. Wow, they seem like a really safe, super ethically sound bunch to hold gold on my behalf :P Imagine if they are being similarly ethically sound and forthcoming about the level of their physical gold holdings versus their issued gold ETF shares - well if it was ever discovered that these two things were divergent, not only would gold ETF holders miss out on the massive price appreciation of physical gold that results, but you may also not be able to withdraw ETF funds. Ok, rant over. But seriously, if you do buy gold or silver to hedge against currency deflation / coming inflation, consider secure, reputable, insured non-bank vaults that give you images of your allocated holdings that is in a safe, politically stable, bullion friendly jurisdiction - like bullionstar.com and not a bullion ETF. Ok, I feel better now. Another really good reason I am following the DXY as strengthening of the USD will mean a pull-back and possible good buy zone for precious metals - which I see as going higher after correcting recently for no good fundamental reason. A bounce in the USD is allowing me to load up on silver which is again worth more than 80:1 (by weight) vs gold. I hope all that made sense. Protect those funds and good luck.
TVC:DXY
by flyinkiwi10
Golden opportunity in a pullbackGold GC1! weekly chart is showing a rejection about the triangle resistance, as it ended the week slightly positive, but in a gravestone doji-like candlestick. MACD is pulling back as well. The Non-Commercial Net Interest (bottom panel, orange line) is rejected at the resistance and staying within a triangle. Watch it for the possible breakdown in the weeks to come. The Top8 Traders Net interest is slightly more net short than a week ago, turning lower to continue the downtrend. Watch this as well. Overall, this chart suggest downside risks, or a consolidation at best.
COMEX:GC1!
by Auguraltrader
2