Gold tops out after printing a ATH back in August 2020 and then
Trades within a descending channel printing Lower highs and respecting the top and
bottom of the channel to contain the price action .
A strong break outside of the channel in August 21 followed
by a back test of the top of the channel in Sept and a healthy break
to the upside after...
Voila - a skew 12y arc with Silver
THe consolidation is related to the las tone, with importawnt differenece
- is up stairs ans down elevator - BULLISH vs opp 2011
- entered from below, so a continuation b=pattern, not a typical bullflag per se
- gradients clear, and spell $44 target
- bouncing off RS!50? 0- funny that lines up with MICHAEL OLIVER's watershed
Compare to 2010/11
Similar structure from the pullback, BUT - entered from above, and the clues about the dump were in the chart on the approach - up the lift and down the stairs, hit the rSI50 and just sh@t it self
This time, its up the stairs and down teh lift, so it IS a bullsish structure.
Thre's a chance of it givinng way, but there isn't that great a...
Looks like a bullflag... but stinks like a failure.
RSI is not being charged, it's being dragged south. Not funcitoning well. Sharp stabs north defuse a bullflag.
Down the lift and up the stairs
jacks the bulls and scares the bears
So in keepign with a bullish BO on gold adn silver
TRICKY little SUCKER - hiding bullishbearish candles n a bullish...
That does not look bearish.
Yes upchannel, but steep for a bullflag, aacctually runnin asn arc with a inverse head and shoulders.
Let's see. IT may fail, but I'm not sold on it being bearish and I'll def HODL
Looks like a queeze up to COMEX open time is possible... Let's see. As I said last night.. there are enough features here to sow doubt in me that it's a bearish chart. I think could go either way, but I'm leaning 51/49 to go up.
As @lukeytrags has been quite upset about, the goldies are capitulating today. I think that's the last scream of capitulation...
Silver has been in the current sideways range for 410 days and within this time it had printed its ATH of 30$ back in Feb 21.
In August we tested the bottom of the current range to around 22$ with a 11% move to the upside thereafter followed
by a strong rejection at 24.90 to push silver back down to the August range Lows at $22 for the back test.
It is crystal clear that the gold is ranging in an inclined corridor (see the two inclined lines) + the prices are below the VWAP (for the moment). Since there is no volume the minute I type this, it is difficult to predict exactly what is going to happen. But here are the only 2 scenarios:
First, the market will break the range from above with a strong...
Interesting time for copper!
Chinese smelters and global miners meet every November to negotiate the annual benchmark for the following year’s TC/RCs.
Miners pay treatment and refining charges (TC/RCs) to smelters to process concentrate into refined metal. When supply is scarce, refiners have to charge less to attract what they need.
This comes when...
Based on price action on this week we will have these key price points:
support: 1819.30 (main bottom)
The main point for today is: 1889.70
any news about election, vaccine and stimulus can give momentum for gold!
Please support this idea with LIKE if you find it useful.
The information given is...
Gold on the way to finish last leg up
to perhaps at the current level or more
to as high as $2030/Oz.
Then a downtrend may resume for much
lower level perhaps to as low as $1400
in the coming months or so.
We have seen the COMEX Gold Future showing some fake signals during last weeks. Signals followed by very strong volumes, but, seeing the market price running the other way around.
Be careful when trading the Gold Future.
All the red arrows are showing examples of fake signals.
The blue line is an overall trending line being a strong support, if broken there is...
The general trend of the COMEX GOLD FUTURE is still valid as an uptrend as soon as it is above the blue slope support.
The red line marks the most important line where the sellers won't let the market go above.
The yellow metal have seen recently strong sellers push and have revealed an area (The red line) where the fight is going on between sellers and buyers....