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US30/DOW H4: 10% upside remains / buy shallow dips(NEW)Why get subbed to to me on Tradingview? -TOP author on TradingView -15+ years experience in markets -Professional chart break downs -Supply/Demand Zones -TD9 counts / combo review -Key S/R levels -No junk on my charts -Frequent updates -Covering FX/crypto/US stocks -24/7 uptime so constant updates US30/DOW H4: 10% upside remains / buy shallow dips(NEW) IMPORTANT NOTE: speculative setup. do your own due dill. use STOP LOSS. don't overleverage. 🔸 Summary and potential trade setup ::: US30/DOW H4 chart overview and outlook ::: chart looks good / more upside likely ::: accumulation in progress right now ::: previously coming from strong base ::: repeating same pattern now ::: TP bulls is 28 500 / 28 750 points ::: recommended strategy: BUY dips TP 28 500 ::: overall US stock market pretty resilient ::: until we hit 28 500+ there will be no ::: correction. just BUY dips and make money. ::: good luck traders 🔸 Supply/Demand Zones ::: N/A ::: N/A 🔸 Other noteworthy technicals/fundies ::: TD9/Combo update: N/A ::: Sentiment mid-term: BULLS ::: Sentiment outlook short-term: BULLS
ULong
by ProjectSyndicate
3
Gold/Silver Ratio Is FlaggingWhen the gold/silver ratio is high, gold is relatively more expensive than silver, by historical standards. Some people use this ratio to trade between the metals. For a very long-term investor, the trade works like this: when the ratio is high, buy silver, and wait for the ratio to revert towards its mean. Then, sell the silver and buy gold at a better relative price and wait for the ratio to rise. Using this oscillation you can accumulate precious metal using nothing but the mean reversion between the two metals. Now, that said, the 19th century average gold/silver ratio, I believe, is around 47. By those standards, the ratio is extremely high right now. On the other hand, the rise has occurred in a very steady long-term rising trend channel that began during the Great Financial Crisis. Long-term chart: It seems to spend ages along one side of the channel before moving to the other and inhabiting that region for quite some time. The question I cannot answer is: will the historical mean be revisited any time soon, or is the inflated ratio somehow a byproduct of unprecedented central bank intervention? That said, I will add a couple of comments regarding the short-term picture. During the crash the ratio mooned, breaking out of the channel for the first time in geologic eons, and has since worked its way back in. The process of reentry looks to be taking the form of easily identifiable flagging, and that last flag looks to be breaking. How would one trade this, if they were so inclined? I if they thought we were heading to the lower bound of the channel, one would buy silver now, and then if we find the bottom of that channel, perhaps swap it for gold, since the channel is gradually rising. That's just a guess. We live in unprecedented times and these assets might become quite volatile in the coming weeks and months. If one believes we will ever revisit the ratio's very long-term mean in the 40s, they would only hold silver until it does. I have no idea if that will happen.
TVC:GOLDSILVERShort
by CHTradingGroup
1
Gold Sets Second Highest Monthly Closing Price On RecordGold closed this month at $1,798/oz which makes June 2020 the second highest monthly closing price on record. The all-time highest monthly closing price on record was set at $1,831/oz in August 2011. July could easily break the all-time monthly closing high if current upward momentum holds. The June and May price candles both closed yellow which indicates that there is bullish momentum volatility occurring in price, which tend to be upward continuation signals. Short-term support to watch on any pullback are S1 and S2. S1 is near $1,600/oz and just below where price recently broke out into bullish momentum volatility yellow candles. S2 is a little lower down near $1,400/oz and is the last support level at which gold would remain in a bullish trend. Below there would likely lead to a period of consolidation or potentially further declines in price. The bullish move from here would be a continued push higher in July and for a new all-time high in the monthly closing price to be made. The Relative Strength Index(RSI) shows the green RSI line trending above the purple signal line, and both lines are trending up which indicates bullish momentum behind price. In general both lines trending above 50 is considered bullish price momentum while both lines trending below the 50 level is considered bearish price momentum. The Price Percent Oscillator(PPO) shows the green PPO line trending above the purple signal line which indicates that there is bullish momentum behind price. During an uptrend you want to see both the green and purple line rising above the 0 level as a bullish momentum indication. Both lines trending down below the 0 level indicates bearish momentum behind price. The Average Directional Movement Index(ADX) show the green trend line above the purple trendline which indicates that there is a short-term bullish trend behind price. The histogram in the background is green and rising which indicates that the trend behind price is increasing in strength. In general, during an uptrend in price you want to see the ADX showing the green line above the purple line and a rising green histogram in the background. The overall view on gold remains bullish due to economic uncertainty surrounding the lockdown aftermath as well as the likelihood that central banks will continue to print their way out of a global slowdown. Year-end target remains a new all-time high above $2,000/oz.
COMEX:GC1!Long
by PrepForProfit
7