New Month, New Low, Same Old Bears: $Gold $SLV $Copper #forex
Friends,
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Read on for target on Gold, Silver, Copper ...
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As of last March 27th, I released abysmal targets, and despite a short adverse excursion that would take my initial position out, I was able to reenter at a fraction of a pip higher (0.92729 on March 31st, compared to 0.92724 on March 27th when the signal was released).
Since that time, price marched on, carving out new lows into the new month, at the pace of bears stomping price ever so lower.
Regardless of the interim event since the target release, non of it has perturbed the original analysis and forecasting. So, there really isn't much to add here, except adding confirmation of bearish dominance.
Looking into metals, Gold and Silver have continued to signal their own bearish strengths, while Copper follows a relief rally I had forecast last week, which would potentially bring its price against an overhead 3.149 resistance.
METALS TARGETS:
In fact, my system is projecting Gold to find a secured floor at 1248.82. I would like to see somewhat of a continued decline by a few points and a relief rally before in this metals' king, but the system is what it is: Bearish.
Silver remains on target towards a forecast opined on January 25th, 2013, namely: TG-1 = 18.815 - 25 JAN 2013, although I did caution several times of a potential rallying that could annul this forecast. Instead, price kept its tack.
Copper, as indicated above, seems to float its own dingy boat, entertaining an interim relief rally in the midst of a broad depreciation wave. However, the overall forecast here remains bearish as well: a 3.149 resistance awaits this little ductile metal.
OVERALL:
$AUD being tethered to sinking commodities is following suit. In fact, one has to look at similarly correlated currencies such as CAD, NZD and CHF, to observe the potential effects of this commodity slump.
Cheers,
David Alcindor
Predictive Analysis and Forecasting
If interested to receive my TradingView forecast instantly through Twitter:
Simply follow me: @4xForecaster.
Here is a recent forecast:
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Disclaimer:
- Remember to remain dubious about every and any thing I say. All comments are subjective perceptions based on unshared, proprietary and common knowledge of fundamental analysis, classic technical analysis, basic and advanced pattern trading, as well as personal research in occult market geometries, predictive analysis and quant-based forecasting, some or none of which is being shared in my trading profiles, so do your due diligence and review the disclaimer below.
- Forecasts, analyses and directional opinions generated herein are for educational purposes only and are not trading recommendations. We trust that you will do your own due diligence first, then seek professional advice from a licensed professional, then enter the market at your own perils - David Alcindor - TradingView.com Alias: 4xForecaster
----------------------------------
Read on for target on Gold, Silver, Copper ...
----------------------------------
As of last March 27th, I released abysmal targets, and despite a short adverse excursion that would take my initial position out, I was able to reenter at a fraction of a pip higher (0.92729 on March 31st, compared to 0.92724 on March 27th when the signal was released).
Since that time, price marched on, carving out new lows into the new month, at the pace of bears stomping price ever so lower.
Regardless of the interim event since the target release, non of it has perturbed the original analysis and forecasting. So, there really isn't much to add here, except adding confirmation of bearish dominance.
Looking into metals, Gold and Silver have continued to signal their own bearish strengths, while Copper follows a relief rally I had forecast last week, which would potentially bring its price against an overhead 3.149 resistance.
METALS TARGETS:
In fact, my system is projecting Gold to find a secured floor at 1248.82. I would like to see somewhat of a continued decline by a few points and a relief rally before in this metals' king, but the system is what it is: Bearish.
Silver remains on target towards a forecast opined on January 25th, 2013, namely: TG-1 = 18.815 - 25 JAN 2013, although I did caution several times of a potential rallying that could annul this forecast. Instead, price kept its tack.
Copper, as indicated above, seems to float its own dingy boat, entertaining an interim relief rally in the midst of a broad depreciation wave. However, the overall forecast here remains bearish as well: a 3.149 resistance awaits this little ductile metal.
OVERALL:
$AUD being tethered to sinking commodities is following suit. In fact, one has to look at similarly correlated currencies such as CAD, NZD and CHF, to observe the potential effects of this commodity slump.
Cheers,
David Alcindor
Predictive Analysis and Forecasting
If interested to receive my TradingView forecast instantly through Twitter:
Simply follow me: @4xForecaster.
Here is a recent forecast:
-------------------------------------
Disclaimer:
- Remember to remain dubious about every and any thing I say. All comments are subjective perceptions based on unshared, proprietary and common knowledge of fundamental analysis, classic technical analysis, basic and advanced pattern trading, as well as personal research in occult market geometries, predictive analysis and quant-based forecasting, some or none of which is being shared in my trading profiles, so do your due diligence and review the disclaimer below.
- Forecasts, analyses and directional opinions generated herein are for educational purposes only and are not trading recommendations. We trust that you will do your own due diligence first, then seek professional advice from a licensed professional, then enter the market at your own perils - David Alcindor - TradingView.com Alias: 4xForecaster