GOLD this will be our test of strength, I think we're in for a prolonged bear in this sector, I personally would like to say that I am deeply shaken and uneasy about my holdings, how does DXY go up and BTC go up, make it make sense
So I get stronger dollar hittng metal and miners GOLD but this looks oversold to me. Higher interest may push it even lower but I'd note even with pull back XAUUSD is still up significant YTD so I'll be ready for good entry point for a long long once the markets sort out a bit more. lol
GOLD Since I got in around 15 May at $16-$17, itβs already up about 20%. The current setup looks even more complete on the right side compared to back then, which only strengthens my confidence in its upward momentum. Feeling more optimistic about its future gains with each passing month! :-)
ABX has confidently closed above the critical 26$ big figure level today. I am anticipating further upside expansion toward the 30$ price level with the next resistance price level at 28.20$. If the Fed cuts rates in Sept, this should buoy the gold miners higher. That being said, a rate cut is being priced in right now.
GOLD Since 2014, it's become quite clear that the crises once causing market tumbles have shifted from undue panic to a resurgence in confidence. Coupled with stagflation fuelling demand for explosive growth in mining cycles, the prospective 66% long-term profit, juxtaposed with a 16% stop-loss scenario, presents a rather enticing risk-reward ratio. When compared to other mining stocks, this choice emerges as my top pick for medium to long-term investment. It appears poised to attract a stream of followers in the coming periodβa sterling investment in this economic cycle. However, assessing the investment risk remains crucial.
GOLDGOLDGC1! π΅ As I said around 4 hrs ago π΅ π π°Munehisa Homma a successful rice trader of the 18th C. creator of what we now know as candlestick chartingπ° π
Look at 3 charting facts.
Fact 1: The current 4HR candlestick is a Long Lower Shadow. Fact 2: Since March there have been 8 long lower shadow candlesticks on the 4hr Fact 3: 7 of them have been a green candle after
Munehisa Homma would have been Bullish for rice π π π° π΅ π΅ π
GOLDGC1!GLD π π΅π°π΅π°π΅π°π΅π°βA founder isn't blinded by the conventional wisdom of the present, they've recognised the patterns of the past and see the clues to the future, nowβ π π΅π°π΅π°π΅π°π΅π° Henry Joseph-Grant π