Sitting on the 200 MA. Solid support at 169. Resistance at 173.5 Resistance at 174.5 over that is a breakout with 176 confirmation. DYOD I am long 1 share to watch it. Just a quick chart for that. See GOLD CFD chart below www_tradingview_com/x/fuGky4qE/
I drew support and resistance lines. from today's price going forward. as each zone is entered opacity increases 10%. This gives me a visually intuitive bullish or bearish outlook. Depending on whether I am long or short or buyer or seller these can have different meanings. For today I am ancient bullish long looking for a dip to buy more. Just evaluating the idea.
The rays from peaks and troughs show possible transitions from supports and resistances. Looks like the Green panels have the data points in them. Just like last November a ray off the tops needs to be crossed for a retest of highs. Or the green panels are continuation zones. The Bears would have to put some data in the RED box for a case. Currently the 200 D...
The 200 Daily MA and the 200 Weekly MA look to converge in September around 24K...Unless BTC rallies hard from here.
With interest rates still negative (relative to nominal inflation) the bullish case for gold is still open. As long as the Equites are in downtrend DXY may be muted as foreign money may want gold not bonds or equities. I did note a significant drop in foreign capital investment on Trading economics.
Well, I made this channel back in January based on some past information and my projected Bond correlation with the DOW. Now it will be put to the test as the FED runs off the Balance sheet. My terminal rate high for the US10Y would be 4.5%
This one goes with the DOW channel. I have this one as a companion to the DOw channel VS US10Y. You would have to look on the time axis for the US10Y as we go through the sellof of the Balance sheet (FED).
Here is a panel I did to do my pessimistic view (red panel) and Optimisic view (Green Panel) as we go through the FED balance sheet runoff. I have be long gold since, well last century. We just crossed my medium term trendline (black)....We may get ANOTHER flight spike to 1913 the sooner the better. Next week has some terrible numbers coming out for the markets...
The sanctions have not undermined the Russian currency as one would have expected. I wonder if the rule induced default will have any effect on May 25. The ruble has pushed back into 2014 territory...and looks capable of hitting 48 to the dollar. ouch.
For the last week or so the dollar has reversed the previous inexorable rise from February. The Swiss franc and the Yen are picking up flight from equities strength, which makes little sense long term. US Yields are off peak too pretty much along the same trend. This should be good for GOLD. Yet gold fell to support today around 1855UDD. I guess it was the...
This is temporary until we see some serious inflation abatement. This pull back is flight from equities driven bonds catch a bid. iF THE REAL economy doesn't improve soon then the bonds only support is flight from worse outcomes. Also the fed balance sheet run off will support yields in the medium term as it constitutes a supply increase. So if inflation...
I have been watching the volume fall for months. Did get a good surge in the aftermath of the terra stable coin fail. That pulse went to 25.5K volume has since fallen.
USDX broke the commodity channel last week. Yields on the 10Y could go back down to 2.6 if the fear really rails the equities. Futures are up at the moment for the equities, but not above the Friday morning highs...significant number come out this week...and the following week the FED starts selling the balance sheet. Maybe a giant sucking sound for capital....
Here I have added some future support lines...This chart has been good so far from the November top. the commodity channel keeps getting pushed over by bear market rally attempts.