Dollar UP. gold at a very TOP And miner doing very bad, after all, cant be a bullish continuation. That means for me a RESET, to a weekly low or even a MONTHLY bottom. If after Fed meeting, gold continues crahing (and it could) if dollar seeks new HIGH, miners would fall more... I am full short at this moment.
There is a gap at 33 that should be filled. And under 30 is very probable...afterwards, wait and see
@JAY_c5velm, if todoy is not the top is very close to it. No much more run up. Could be a reversal on monday next week
bjorn2z
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@JAY_c5velm, Any thoughts on silver? Will it dip a little and continue running up to 35? Or will it get exhausted at 32 and fall?
JAY_c5velm
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@bjorn2z, I dont have an analysis on silver to give an answer based on that (right or wrong). I think it will begin to fall as soon as gold does the same. As i expect gold to fall at any moment, the current price of silver could be a good entry point to short.
bjorn2z
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@JAY_c5velm, Yes! Thank you. I bought ZSL and JDST yesterday. :-)
JAY_c5velm
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@bjorn2z, :-) Nice shot. Lets wait and see the nature of this fall. I believe stringly that is the beginning of a MONTHLY correction.
bjorn2z
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@JAY_c5velm, Thank you! I am controlling myself from buying JDST or ZSL today. Since I already have short positions in NVDA and WING which I carelessly/stupidly started too early, I am now more careful to short GDXJ and silver. I will be alert to short next week. The ongoing risk-on behavior in all assets may continue till NVDA earnings next week.
nixpix416
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Thanks so much for your update. Figured with the hype about Gold right now, we were near a short term top.