For the last couple of months gold's been trading in a range frustating for both the longs and the shorts with no real movement in either way. Yet the bears seem to be winning this fight for now. Gold is still following it's downward channel even though it broke it's median line but didn't stay above it for long. Ideally I'd like for gold go down to about 1190 to...
Gold did indeed continued its correction and reached a low at 1,260 USD on Friday the 6th of October. I hope you followed my advise and went long below 1,265 USD, cause since then a strong recovery is on its way and gold is already back above 1,300 USD. Yet the big questions whether this current up-move is just a wave B type recovery or in deed the beginning of...
Two scenarios for gold: 1. Since the top at 1,357 USD gold is in a correction which usually turns out to be some form of ABC-Correction. If we are still in wave A, the following wave B should take gold back above 1,300 USD. Probably to around 1,315 USD.. After that expect another wave down which might not end before prices around 1,215 - 1,205 USD are...
At the long time-frame of two weeks with ichimoku we see the price testing the bottom of the thick red cloud. At some point soon I expect a decisive entry into the cloud and the climb upwards to break from above cloud in the coming months. But not if JP Morgan can help it... Now certainly seems like a good entry based on bottoming. However, silver still may be a...
Gold remains very bullish here despite any overbought readings.. The breakout above the 6-year downtrend-line is super super bullish. Its the strongest signal for gold since 6 years !!! With the slow stochastic oscillator being embedded the rally will very likely continue over the coming days and weeks towards 1,295/1,300 USD. From there we should or could get a...
As expected gold continues to trade between 1,200 USD and 1,300 USD. The recent strong recovery from 1,215 USD up to 1,295 USD just two days ago was a bit surprising as we´re getting close to the FED meeting next week and seasonality is not really favorable in spring. But gold is showing more and more strength and has already been breaking out above its...
I'm still long on gold, adding to my position with the most recent dip. RSI has failed to break down below the mid 40 level two times already (a failed attempt now would be the third). As I mentioned in my last post on gold, I saw a potential drop to the 1230-1240 area, which we got (I commented to a TV'er that I thought 1250 might be an updated bottom, was too...
The mining stocks are going to be stronger than the broad markets again?
Hui Gold Bugs at important level
Gold is looking to break the 2011 downward trend line. If you look at the RSI, you can see that gold has been in consolidation since early 2013. I truly believe we will break the trend this year, with fundamentals supporting this move. We may not initially break the trend this month, however the only downside risk I see is to the 1230-1240 area (my thin...
As silver is bearish gold is bearish too same setup but with more volume than silver it can pick bearish volume in about 3 hours from now on so stay connected. Good Luck Muze (xauusd).
There's about a roughly, umm, 0% chance they raise rates in March. Nice try grandma.
We have had 2 strong bounces off the 1220 area, with both bounces hitting above 1230. It must be noted that the level we got rejected at (1240), is the bottom of the past low we made in October. It appears that passing this level is the gateway to 1280. It will be interesting to see if gold even bothers retesting 1220 again in the next few days, rather than...
Re-longed gold on Friday, 1W and 1D both still look very healthy for bulls. Cross on 1W MACD, with the 5EMA looking to cross through the 50/100EMA. We saw a big bounce off 1220 on Friday which served as strong support and reassures me of my long position.
With Gold looking longterm bullish, I think gold stocks are going to do really well. I think this is a good stock which may offer near 100% return from its 3rd wave extension. A play past 5.25 seems like a serious possibility.
As I posted in my prior idea, I sold my gold position this morning when the DXY started to rally. I am still long-term bull with gold, however it is clear to me that this move wants to retest the 1220 area as this was significant resistance over the past few weeks. There's currently a bearish engulfing on the 1D chart, and the MACD is looking to test a break back...