... and the downtrend continues. The question is : can we make a lower low again? Don't get tricked out by the banks' false countertrend rallies. If gold cannot rally with the weak dollar what will happen when the dollar bounces? We have a long way to go down with a panic selling at the end of it.
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Familiar isn't it? Lower lows and lower highs. Bankster brothers just need to move the stops while relaxing at the beach.
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lantao517
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GDX is negative relative to US 10Y yield, and US 10 Y yield just break its downtrend yesterday and tend to move higher, as a result GDX may bear huge pressure to move down.
Possibly, Yield may toppish around 2.5%, from mirror, GDX may find bottom around $18.5 which is Dec low.
How do you think about it?
Hiep_Khach_Hanh
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"Bankster brothers just need to move the stops while relaxing at the beach." Haha.yes,the downtrend is clear
hermann-san
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chartwatchers
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@hermann-san, I don't think cutting candles in half is a good way to set the trendline.
In this way you see what you want to see. But usually that'snot happening.
@chartwatchers, i thought the same at the moment when i saw the chart :)
hermann-san
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@chartwatchers, I've learned from the following monthly gold chart that cutting candles in half (more or less) seems reasonable at times (because of lack of alternatives). Is this one also invalid?
imagizer.imageshack.com/img924/3406/Ntp0Rn.png
hermann-san
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@hermann-san, "lack of alternatives" is probably not the way I should have put it. It just seems to make sense to have a strong trendline being previously resistance, then becomes support once it breaks.
GeorgeJimas
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On the 1D chart, we've made nothing but higher highs, and lower lows since December.
Possibly, Yield may toppish around 2.5%, from mirror, GDX may find bottom around $18.5 which is Dec low.
How do you think about it?