PRICE ACTION ON 15 BASIS... OBSERVE PRICE...STUDY PRICE IT SHOWS THE SIGNS OF WHEN TO FOLLOW
OBSERVING PRICE ZONES.......IF FALURE BELOW 1211.20 THEN LAYING OUT SOME PROBABLE PATHS OF PRICE.. ANY CLOSING FAILURE BELOW 1175 INCREASES ODDS THAT PRICE WILL RUSH TO THE BREAKOUT AT THE BOTTOM OF THE BASE.. STAYING ABOVE THE HIGHLIGHTED BALANCE POINTS GIVES THE DESIRE BIAS OF ITS PATH.
DESCRIPTION ON CHART
Great increase of upward movement today on greater than average volume. Prices closed very near the high of the day; however, even with the extra volume prices could not break resistance (C). The next few trading days will be very important. If the rally falls and this creates another lower high below resistance (D) then I believe we are seeing larger scale...
Bulls remain in control of the ascending channel as sellers were unable to follow through with yesterday's decline into FOMC. Support noted at 61.8% retracment
$GLD $SLV Gold/Siver is trading up around levels that have tended to lead to significant silver outperformance on a relative basis. However, watching the prevailing trend in the gold-silver ratio also provides some clues as to the performance of silver on a absolute basis. On the chart, marked are the three previous cases when the gold-silver ratio has broken...
Some consolidation in the shaded area may set up a long entry for a move to $1400. Would also allow for 200 day MA to start to turn up while working off some shorter term overbought readings.
Roadmap......Gold is approaching strong overhead "Potential Resistance" into "Time". Breaking below the inflection point of 1142 increases the odds to attack deeper targets.
POTENTIAL SYMMETRY MOVE MAPPED OUT FOR THE YEARLY PATTERN. IT LAYS OUT THE EMOTIONS OF THE MARKET. :PRICE ACTION" IS EVERYTHING.
A test of the overhead supply is possible now
KEEP IT SIMPLE....FOLLOW THE FOOTPRINT OF MONEY AS IT BREAKS THE PRICE FLOW.. TARGETING 24.83 BASIS THE LOW OF THIS MOVE.
My bias is more for oil up than gold down over the coming months .$CL_F $GC_F $SPY
POTENTIAL SYMMETRY MOVE......IT LAYS OUT THE PREMISE FOR THE EMOTIONS IN THE MARKET. THE MARKET IS ALWAYS RIGHT. ONLY "PRICE ACTION PAYS.