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GLD

The Gold Odyssey - the third lower highHeads up previously, had already mentioned previously, there was bullishness in Gold, but not enough and it was way too stretched to be at the top of the (constipation) range. The weeks went by and few things are very clear here: 1. There is a third lower high (not bullish) 2. Gold is breaking back into the range (really not bullish) 3. The MACD is weakening, the VolDiv has crossed down with a lower low (very not bullish) 4. The TD Sequential Setups are showing that the primary trend is still bearish, from the Buy Setup in early 2021. This was never reversed, although price closed above the TDST (green dotted line at 1962.50). So now the deal is like this... EITHER the current Setup completes over the next two weeks with Gold popping up definitively, OR it breaks down this week cancelling the current Setup, keeping the bearish primary trend, and closes below 1962.50. I suspect the latter will pan out... appears more probable to me. Downside target 1820-1840, else if closes below 1800, can expect below 1700. Wait and watch...
COMEX:GC1!Short
by Auguraltrader
1
Gold resistance - testing back below 2klast week was the first weekly close below 2k in GC since the recent breakout. Weekly chart highlights the multi-year range, big question is whether sellers have enough to re-take control of near-term trends this week. I don't doubt that Gold can prod a lasting move above 2k, I just don't think that'll happen until the Fed pivots and I'm not expecting that while Core CPI > 5%. Am tracking a series of resistance levels overhead, 2008 near-term, 2023 above that. 2037, 2049 above that supports 1980, 1954 and then 1944 next week is FOMC and ECB
COMEX:GC1!
by JStanleyFX
Topside Exhaustion in GoldThe Gold rally faltered today into uptrend resistance on building momentum divergence, just ahead of the 2022 high-day close at 2050. Initial support with the March channel (red) with the broader outlook constructive while above the median-line (currently ~1920s) Ultimately a close above the record high at 2075 is needed to unleash the next major leg higher in gold with initial objectives eyed at 2150. Michael Boutros , Sr Technical Strategist with FOREX.com Follow Michael on MBForex @MBForex
FOREXCOM:XAUUSD
by FOREXcom
Opened (Margin): GLD May 19th 185/Sept 15th 210 LPD*... for a 19.98 debit. Comments: Taking a bearish assumption directional shot in GLD here on strength. Buying the back month -90 delta put and selling the front month +30 to emulate the delta metrics of a covered put (i.e., short a one lot of stock + short a put). Cost basis of 19.98 with a 190.02 break even on a 25 wide. 5.02 ( SGX:502 ) max profit, assuming a finish sub-185, 25.1% ROC at max; 12.6% at 50% max. Will generally look to roll out the short put at 50% max to the shortest duration 30 delta strike that is at or below my break even. With the back month out in September, I have quite a few opportunities to reduce cost basis if the setup doesn't work out immediately. * -- Long Put Diagonal.
AMEX:GLDShort
by NaughtyPines
ETHUSD Breakout Eyes First Major HurdleA breakout of the monthly opening-range takes Ethereum towards the first major technical zone at the August highs / 100% extension of the late-November advance at 2029/42- look for a larger reaction there IF reached. Initial support rests with the August high-day close at 1936 backed by bullish invalidation at the monthly open (1821). A topside breach exposes slope resistance (currently ~2150s) backed by the 100% extension of the broader June advance at 2222.
KRAKEN:ETHUSD
by MBForex
1
Silver SI - A Simple Trendline and Levels ScalpSilver's price action has been curious, as it started to drop suddenly right at the beginning of February. Lost 5% in a day, in fact. Gold took a little bit longer to move, and notably dumped on a much smaller magnitude. I have an open call from mid-January that gold is likely to correct, and it appears to be coming to fruition: Gold GC1 - Discard Greed, Enjoy the Tranquility of Rationality The thesis being that the Nasdaq and tech will moon... Nasdaq NQ QQQ - Reality Will Be a Tough Pill for Permabears And as it does, metals will dump, and once the stock market is exhausted then the pump cycle will rotate back into metals, and things will really go. All that being said, I believe that based on Silver's price action that it's dumped for the purpose of short trapping and liquidating longs and is about to make another move up before silver really starts to head down. A warning on China Since January 10, the Chinese Communist Party has claimed that there has been 0.00 new Wuhan Pneumonia/COVID-19 cases. This comes after news that the country was absolutely sacked by the pandemic after Xi Jinping threw away the disastrous COVID-Zero social credit lockdown blunder. The after effects were so significant that countries like South Korea were suddenly blanketed in difficult-to-explain smog , which may very well have come from mainland cremation furnaces being on full blast. What this tells you is that at any moment, any bullish impulse in markets-at-large can be interrupted by big time pandemic problems, up to and including the USSR-style fall of the CCP. So you have to be careful, and you have to be prepared. Mainstream media is not going to alert you that there's any problems with their darling erstwhile model of the world they want to create: the Chinese Communist Party. They'll leave you ignorant until the disaster is sprung on you like a cantilever and you'll be the one who suffers the regrets. If you have heavy long positions you should really hedge with 60+ day 10% OTM puts on the indexes/index ETFs. The call To understand silver, we have to look at the long term price action. Monthly We're dealing with a _very_ wide dealing range between $30 and $12~. '22's low of the year was only $17.50, and any very very bearish scenario below that could see as low as $13. I have reservations that we see $13. I think that in reality a bear impulse on silver might only go as low as $15, and not for very long. On weekly bars, the present situation is more obvious. Weekly We're dealing with a 10+% pullback with both a trendline and the $25 algorithmic/psychological operation figure that went untouched. Not only did $25 go untouched, but they set a double top there before the curiously-timed dump that gold did not follow. Thus, I believe that what the market makers have set up to do is to raid the $25.50 level, perhaps in the period around Tuesday's CPI and into the end of February, before silver retreats back towards $18. The iShares Silver Trust $SLV likewise set a double top, failing to raid the previous daily high by 2 cents. All the stars are aligning, so to speak, and makes a fine trade long over $25 in anticipation of a Lyft-style fakey trendline breakout: LYFT - Buy the Dip, Ride the Lift $22 --> $25.5 is close enough to 15% and in a time horizon that should manifest before February is out. This play will also knock out a ton of short sellers, while bringing in a lot of momentum traders who like to buy highs. The MMs may also use this to drag in the fools who think that the USD is done and that their bullion will reign supreme, despite us living in an era when every central bank wants to install its own digital currency and its own CCP-style social credit system. And thus, if this pump does manifest, you have to mind your greed. Over $25 is a sell and you want to see big manipulation to the downside, because when this Party is very close to being finished, $50+ silver is legitimately coming.
COMEX:SI1!Long
by LordWrymouth
3
Gold - $2,000 Is ImminentGood news for goldbugs: GC Gold futures is projected to take out $2,000. Bad news for goldbugs: I still believe that both price action and fundamentals are short/medium-term bearish on gold and that this swing will amount to an exit pump before lower prices forecast in the below post are achieved. Gold GC1 - Discard Greed, Enjoy the Tranquility of Rationality I also believe that Silver is about to rip over $25 for roughly the same reason Silver SI - A Simple Trendline and Levels Scalp And oil to $88 WTI Crude - Step 1) $88 --> Step 2) $5 Some key fundamentals on gold is that the Chinese Communist Party has been accumulating. I've heard that central banks tend to accumulate gold when their economy is in severe trouble and they want to make a bad situation look good. This is also a classic play in the CCP toolkit, trying to appear as if everything is great and the Party is very smart and stable even as tens of millions of citizens and technicians have died from the pandemic. Another reason for amassing gold is to convert foreign reserves/national currency into something they can trade for oil on the dark market. The CCP is not in a good situation. If you look at the stats the Party is reporting, they say that Wuhan Pneumonia (COVID) has totally disappeared from the country since Jan. 10. Not a single case, not a single death in two months, if you believe what the least credible regime on the planet has to say, at least, it's really a miracle. But you should never believe anything the CCP says. The Party is addicted to lying. There's data that says the Shanghai vault saw 140 tonnes leave in January, the largest withdrawal since 2018. Some analysis says the CCP has over 4,300 tonnes of gold in reality, twice as much as they report, making them the second largest holder behind the United States. So this tells us that the US is the market maker and the CCP, a crumbling regime that is the government of the one country everyone wants to seize control of, has decided to take a huge position, and at relatively high prices. There's good reason to believe, then, that the US has +alpha to be gained from dumping gold. But first, the MM and its custom algorithms need to take out the shortsellers who have stops above the $1,975 pivot and the buyers who will go long over the $2,000 psychological level while dreaming of a new all time high. The CCP is going to fall soon. But the skeletons in its closet from the 23.5 year long persecution and genocide against Falun Gong linger like a guillotine over not only its head, but over the heads of all the governments and corporations that have supported the Party and helped it to survive all these years. This means that the wish for China's opponents is to ensure a controlled demolition of the Party so that the truth of what's been going on all these years can be buried. The problem with getting ahead of ourselves based on last week's price action in terms of a long is that it's the beginning of the month and gold already went up 3%. So, in my opinion, I'm looking for a pullback into the $1,820 range to go long and with a target slightly over $2,000. Time horizon is by early April. Monthly candles show that February was an outside bar: Daily <--> 4H <--> 1H candles show that February took out its low of the month right at the end of the month as well. So ultimately, I expect the February low to hold, so long as I'm reading it right and price action is actually bullish, and so long as the fundamentals overall are actually bearish. And there's no reason to be immediately bearish. Although price was rather abruptly rejected at $1,975, on the way up, there were no pivots or imbalances created. The pivot was just drawn at $1,810~. We can tell this because last week's candle was also an outside bar. What I'm thinking is going to happen is that $2,000 will be achieved to clear out shorts and to trap breakout longs and hysterical top buyers. After that, the US market maker will dump metals hard to put greater economic pressure on Xi Jinping's PBOC and CCP as the world attempts to make the Party fall so that they can invade China and establish globalism, which will lead to real worldwide communism. Think of dumping metals as something of a soft sanction against China and Russia. The idea of globalism is to have the CCP's social credit scheme become standardized everywhere on the planet, and then humanity will live in a two class system: one where there is a very small group of Gates/Clinton-type elites who lord from their "holy" ivory towers over a very large garbage dump of slaves scurrying around for scraps. This is the plan. But over the very long course of history, a lot of governments and organizations have attempted to take over the world. World government has never worked out, and has always ended in disaster. Disaster, followed by a change of scenery. This is why we find buildings from old cultures at the bottom of the ocean and buried in the Earth. Be careful, and good luck.
COMEX:GC1!Long
by LordWrymouth
2
Gold - better levels for longs await Gold is in beast mode - we eye the 2022 and ATHs at $2070 and $2075 respectively and scalper aside it's hard to bet against the momentum play right now The USD is finding few friends and the ST bear trend is a massive tailwind for gold. We've seen US yield curves looking like they will resume bull steepening and rate cuts are once again being priced into OIS and fed fund futures - gold is not a hedge against inflation per se, but the symptoms of high inflation and tighter policy - i.e weaker growth and possible recession, which will likely require rate cuts to take policy back to neutral - and, of course, continued instability in US financials ahead of Q1 bank earnings on 14 April. Using a simple rates model as our guide for gold, we can see gold (inverted) has held a strong relationship with the level of cuts priced - I've used the difference between Dec fed funds and May (the peak pricing) - this simplistic model suggests, that in the short-term, gold may be a touch rich and we may see some heat coming out of the move before the buyers step in and we take another leg higher. Fundamentally it seems bad news equals bad news for the USD, and promotes a higher degree of rate cuts and subsequently gold upside Its all on Friday's NFP then - a reading <200k jobs and a weaker AHEs could see gold pushing to its ATHs
CBOT:ZQZ2023Long
by Pepperstone
🥇 Gold Futures: The Recovery After Melt In Bear HugThis publication was partially created by ChatGPT AI, under request to Offer Twenty Practical Tips On Why People Should Buy Gold. Good or bad, y'all be the judge. But here's what ChatGPT said... 1. Gold is a stable asset that is not subject to inflation and market changes. 2. Gold can serve as a good way to protect against economic crises and political turmoil. 3. Gold is highly liquid, which means it can be easily sold at any time. 4. Gold can be used to diversify a portfolio and reduce investment risks. 5. Gold is a universal asset that is recognized and valued throughout the world. 6. Gold can be used as collateral for a loan or loan. 7. Gold can be used as a gift or legacy. 8. Gold can be a store of value that will retain its value over time. 9. Gold can be used to create jewelry, which can also serve as an investment asset. 10. Gold can be used as an indicator of economic stability and inflation. 11. Gold can be used as a means of payment or exchange. 12. Gold can be used as an investment strategy on a long-term basis. 13. Gold can be used to craft collectibles that can increase in value significantly over time. 14. Gold can be used to create electronic payment systems that are based on the blockchain. 15. Gold can be used to create new types of investment products such as ETFs and futures. 16. Gold can be used to protect against currency fluctuations and devaluation of the national currency. 17. Gold can be used to hedge against inflation risks and government monetary policy. 18. Gold can be used to protect against the risks of geopolitical instability and war. 19. Gold can be used to protect against the risks of financial crises and bank failures. 20. Gold can be used to create an investment portfolio that provides stable income and risk protection. Gold Futures technical picture indicates on recovery after melt in bear hug, as a result of Gold prices break its 52-Week High.
COMEX:GC1!
by Pandorra