It seems we have started a clear move down into the DCL. It should last for 4-5 days.
We have the blue double top which broke down its neckline (blue) and was tested back by a bear flag yesterday.
And the bear flag broke down in the night. We are heading down to 1300$.
Perma bulls are quiet now - I know they are reading me - so it's a good sign that they are freaking out with their longs and don't have time for the contrarian posts here.
The target depends on how fast is the move. I will post here when I think we bottomed.
This decline will also affect GDX, GDXJ wihich will have its compulsory decline now. And DUST JDST can have a pop. Miners are terribly overbought. I think it's time to give a humble pie to the bulls with a scary decline in the following 4-5 days. I can read at a lot of forums that gold/silver miners cannot fall. Let's see are they untouchable or not.
We have the blue double top which broke down its neckline (blue) and was tested back by a bear flag yesterday.
And the bear flag broke down in the night. We are heading down to 1300$.
Perma bulls are quiet now - I know they are reading me - so it's a good sign that they are freaking out with their longs and don't have time for the contrarian posts here.
The target depends on how fast is the move. I will post here when I think we bottomed.
This decline will also affect GDX, GDXJ wihich will have its compulsory decline now. And DUST JDST can have a pop. Miners are terribly overbought. I think it's time to give a humble pie to the bulls with a scary decline in the following 4-5 days. I can read at a lot of forums that gold/silver miners cannot fall. Let's see are they untouchable or not.
Comment:
I think BOE will not cut today. USA futures are pulled up hard.
They are preparing for that scenario. So we could have a little pop in gold after the BOE decision.
Maybe 1235. And tomorrow the decline could continue again.
Someone asked:
Rate cut: gold might fall more. Or it could be in the price already.
No rate change: gold will pop for a few hours.
They are preparing for that scenario. So we could have a little pop in gold after the BOE decision.
Maybe 1235. And tomorrow the decline could continue again.
Someone asked:
Rate cut: gold might fall more. Or it could be in the price already.
No rate change: gold will pop for a few hours.
Comment:
We tagged the 20 EMA on the daily chart. I think we have a little bounce here.
I closed half of my short positions at 1325.
I closed half of my short positions at 1325.
Comment:
2-3 days and we are at the 50 EMA. As you see it's not a freefall just a correction caused by the lack of the buyers. They will come in around 1300$.
Comment:
Bouncing from the daily 20 EMA. Just as I thought the first dip buyers had arrived.
It's too early to go long now. This will be a serious DCL.
It's too early to go long now. This will be a serious DCL.
Comment:
Comment:
Told you it's not over yet.
If we close near the weekly minimum next week we are going to see some real blood on goldstreet.
If we close near the weekly minimum next week we are going to see some real blood on goldstreet.
Comment:
Let's see what Yellen's slaves are telling us about the July rate hike.
Comment:
No better chance for a rate hike than 27th July. Elections are months away, stock markets are at all time highs...
I don't think anything can stop gold from the decline now.
In the next 3 hours we should print 3 green candles on the hourly chart.
There could be a good entry point for the shorts.