JNUG chart for Gold
I use mostly Cycle analysis, and to a lesser degree .... for price guidance, Max Pain Expiration, report Tuesday cutoff, and typical movements. Oh and lets not forget the dependency on the data on the economic calendar as well. As of right now I am neither nor due to a couple factors. We are in and have been trading in a . One that is starting to look like we wont get out of until the 3rd week of October. Only to trade in a larger . note(I almost hope Gold does drop to a or close to it so I can trade it all the way down and then all the way up again).
If we don't break higher (Past Approx 1375 -80 range) by the end of September, then this is going down hard.
The shaded square boxes are the Max Pain price targets. Obviously the further out they go, the less reliable they are. They may change week to week. But still fun to note. Trying to keep an open mind.
I am looking for the current cycle to bottom in mid October and be left translated. The next Cycle, also left translated should bottom in late November. I did not put an arrow for the initial left translated up surge for the beginning of December, but if I had to guess, it looks reasonable for the price to get up to 26.48 range in about one week or so before falling off the cliff .
Lastly, the fact that as of right now, the MAX pain price target in January is soooo low, tells me that the FED will not raise rates until the January 31 meeting. ENJOY!!