Goldstocks
The Beginning of the End: Great Recession 2.0 coming but not now Please, note-At the moment we do not hold any position in our portfolio however when we'll execute positions we'll update you as always-
Gold and silver prices are trading moderately higher in midday action Thursday. Both metals are looking to a wobbly U.S. stock market for direction. A big morning sell-off in U.S. equities pushed the safe-haven metals to daily highs but then when the stock market erased its losses gold and silver retraced about half of their early solid gains. The gold and silver markets will continue to look to the U.S. stock market for near-term direction.
There was some weak U.S. economic data released this morning that sent the U.S. stock market reeling. The ISM non-manufacturing index for September came in at 52.6 versus expectations for a reading of 55.3. The news followed downbeat U.S. manufacturing data released on Tuesday.
There are still global economic growth and trade worries hanging over the world marketplace after some dour manufacturing data coming out of the U.S. and European Union earlier this week.
A World Trade Organization trade-dispute decision in favor of the U.S. over the European Union on aircraft has rattled European markets, as the U.S. then announced late Wednesday it will levy new import tariffs on EU products coming into the U.S.
In another sign of very low and even worrisomely low inflation in most of the world’s major economies, the Euro zone today reported its August producer price index down 0.5% from July and down 0.8%, year-on-year.
Traders are also awaiting Friday’s morning’s employment situation report for September from the U.S. Labor Department. Friday’s key non-farm payrolls number is forecast to be up 145,000 in September.
Technically, the gold bulls have the overall near-term technical advantage and have regained momentum late this week. Still, a four-week-old downtrend line is in place on the daily bar chart. Bulls’ next upside price objective is to produce close I above solid resistance at $1,543.30. Bears' next near-term downside price breakout objective is pushing December futures prices below solid technical support at this week’s low of $1,465.00. First resistance is seen at today’s high of $1,525.80 and then at $1,530.00. First support is seen at $1,500.00 and then at $1,490.00
December silver futures bulls and bears are back on a level overall near-term technical playing field. A four-week-old downtrend is still in place on the daily bar chart. Silver bulls' next upside price breakout objective is closing prices above solid technical resistance at $18.00 an ounce. The next downside price breakout objective for the bears is closing prices below solid support at this week’s low of $16.94. First resistance is seen at today’s high of $17.845 and then at $18.00. Next support is seen at $17.50 and then at Wednesday’s low of $17.24.
GOLD 1 DAY using custom indicatorTaking a look at the 1 day GOLD chart. You can see that the indicator catches most of the tops and the bottoms of the rally. GOLD has done very well over the last year. The indicator does a good job at swing trading it.
GOLD: News or Technical Analysis?#Perfect Spot and BULL-concernsHey tradomaniacs,
in this chart I want to show you my concerns about Gold and why I wouldn`t buy right now.
Technically we see a very nice chance to buy right at the trendline, especially since the correction seems to be done according to E.W. and the fact that we are right at the trendline PLUS a very nice round number, which is 1.500 here.
The 4h and Daily-Chart would give us a very nice opportunity to buy here with a very great Risk-Reward-Ratio.
Buy the questions for me: Who is going to win? TA`s or fundamentals?
Will see a bulltrap ?
Yersterday we have seen a flood a bullish news for the stock-market:
"China`s Premier Li say that us and China should find a solution to the ongoing trade dispute and hopes that trade talks make progess.
There was an immediate "risk on" move. European equitiy indices spiked higher as a result of these headlines."
Right after we have seen a tweet by Trump saying that he doesn`t need John Bolton, a convonced hardliner anymore.
Trumps rating has never been as bad as now and he will have to "calm down" in terms of tradewar talks in order to advoid a recession in the USA which is, and that is what the market believes, caused by the tradewar and its tarrifs.
If he wants to be re-elected in 2020, he`d have to push the "risk aversion" and give the market reasons to shift there money into the stock-market.
A higher risk-aversion would weaken Gold and push the globale Stock-Market, such as indicies like S&P500.
Additionally we see positive reactions by the bulls and in terms of correlations we can see bullish momentums at USD/JPY and USD/CHF, which are correlating with the stock-market.
And since everyone seems to bullish, this would provide a lot of liquidity to the Big Players to sell. ;-)
So what is going to win? This uptrend? Or will Trump violate the Trendline?
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
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Any questions? PM me. :-)
FAKE GOLD BARS FOUND! JP MORGAN..BUY STOCKS, SELL GOLD!After reading the fraud taking place within the GOLD market with fake GOLD bars being found with possibly thousands or maybe even millions more yet to be found, in our opinion, you are playing a very dangerous game buying GOLD now!
Read Story...JP Morgan gets hit with Fake GOLD bars...
Exclusive: Fake-branded bars slip dirty gold into world markets
www.reuters.com
TO BE ON THE SAFE SIDE, WE WOULDN'T TOUCH GOLD RIGHT NOW...NOBODY KNOWS HOW MANY FAKE GOLD BARS ARE FLOATING AROUND
THESE BARS ARE NOT ONLY FAKE, THE GOLD WITHIN THE BARS IS DIRTY GOLD, NOT PURE...THIS IS EXTREMELY ALARMING IN ITSELF!
CHINA IS PROBABLY TRYING TO TANK THE GOLD MARKET JUST LIKE THE WAY THE DIRTY COUNTRY MANIPULATES THEIR CURRENCY...AND CORRUPT DEMOCRATS, DIRTY POLITICIANS AND DUMB LIBERALS DON'T WANT TARIFFS ON CHINA..???? STUPID FOOLS...!!
IN 2012, A GUY WAS PRINTING FAKE BILLS. HE WAS PRINTING SO MANY, IF HE CONTINUED AND DIDN'T GET CAUGHT, HE COULD HAVE CRASHED THE WORLD ECONOMIES...READ..
www.businessinsider.com
THIS IS WHAT WE SEE HAPPENING NOW WITH FAKE DIRTY GOLD BEING DISCOVERED...CHINA IS FLOODING THE GOLD MARKET WITH FAKE GOLD BARS ...
JUST LETTING EVERYONE ON THIS BOARD KNOW...
BEST OF LUCK WITH YOUR TRADES!
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Japan focused Gold play.Interesting Gold play with early exposure to Japans abandoned & shut down mines from the earlier wars...
Is the bottom in for Avino Silver & Gold mines?I think so, Gold is showing some strength in this new currency war which will lead to a real war.
It starts at a trade war every time lol.
Next undiscovered Gold stock with low share count.This company is sitting on a decent amount of Gold in Russia, right next to several major Gold mines.
More research coming in the weeks on this stock.
H&S. Short Short Short!!!!Linked to this post is a 5 day time frame which indicates a top is near with this H&S pattern.
Maybe one or two pumps left & then a deep dive down into the bre-x abyss!
Royal Gold Up Over 23% Since Alert - Congrats to Subscribers!It is very easy to read price action if you have a reference point. These support/resistance lines are there to help you read where the buyers and sellers are likely to make a stand.
MasterChartsTrading Price Action Indicators show good price levels to enter or exit at trade.
The Blue indicator line serves as a Bullish Trend setter.
If your instrument closes above the Blue line, we think about going Long (buying).
For commodities and Forex, when your trading instrument closes below the Red line, we think about Shorting (selling).
For Stocks, I prefer to use the Yellow line as my Bearish Trend setter (on Daily charts ).
Be sure to hit that Follow button! Please find me on social networks via the link on my profile page for more ideas from MasterCharts!
FNV is a trend traders dream --- GOLD---Love this stock. It trades a 10$ spread regularly. It trades on both gold and oil, but mostly gold. Pays a dividend. More higher lows, we will see if there is higher highs. The volume is consistent. Love the stock. I start selling above 105 and start buying below 95.
short gold at 1300-1304 and tp at 1295 minimumjust a simple trade on a logic pullback as overbought and sgn of lost power to go more up without a pullback
GOLD RUSH, WHO'S READY?Okay guys, bit of a confusing one but on the daily chart gold has been travelling in a horizontal channel marked out with the blue rectangles, we recently saw a move from bottom to top and as it was it formed an ascending channel, we saw a false breakout of the channel to the upside at the top of the channel however it dropped back into the channel.
As of now price just hit the bottom of the channel and its making its way up, we believe price will test the descending trend line that is marked out in black which lines up with the 0.618 perfectly and make its way down to the -0.27 extension level. THAT MEANS THE ASCENDING CHANNEL WILL BREAK!
IF PRICE HITS STL , PRICE WILL MOST LIKELY FOLLOW THE RED LINE.
Gold Technical Analysis: Touch 1292 And New Sell entry 1294 GOLD edged higher on the last trading day of the week and jumped back above $1290 and 1294 level, just above over one-week tops set in the previous session.
Gold H4 200 ma moving average is 1290.95 area breakout and stable this level touch 1296 level. and H4 100 ma moving average area 1285.40 level so stable 100 ma gold touch 1290 area.
Gold Day 100 ma moving average level 1280.70 area so breakout this level gold touch 1290/96 area. And Technically Best Sell Area is 1296 level and take profit 1280 Area.
Another way, GOLD breakout and stable 1305 level touch 1318 level.
Previous Monthly High 1327.8
Previous Monthly Low 1280.1
Daily Fibonacci 38.2% 1279.06
Daily Fibonacci 61.8% 1276.92
Daily SMA100 1291.72
Daily SMA200 1251.07
NEWS:-
It would be prudent to wait for a strong follow-through buying before confirming that the commodity might have actually bottomed out in the near-term and positioning for any further recovery, possibly back above the key $1300 psychological mark.
GOLD DIGGING IN ACTIONGold has been travelling in a very large ascending channel however it broke out to the downside, came back up to retest the channel at the 0.618 of the impulse wave and now price has broken out to the downside of the ascending trend line it was travelling above to retest the channel.
price is now going up to the 0.618 of the retest move to retest the trend line it was travelling above, we now believe price will drop to the -0.127 once it goes up to the 0.5 -0.618 of the previous wave
