XAUUSD (Gold) may be setting into a 3 drive pattern. Also a triple bottom. All at the 61.8% retracement from the runup from 2008 to the high. Buy in at $1200, set your stop below 1163. If it goes below 1163 get out. Fingers crossed for GOLD here.
GDX closed below 10 week MA which is negative. The red support line has to hold in the coming week otherwise a short position is warranted. Given current weakness on the weekly chart, the bigger picture is still bullish, evident by the rising price and RSI channel.
Notice how Gold is moving inversely from HUI
-priced in small cap miners ETF- since Jan 2013.
My view is it pays at the time being to be in
well financed, little debt small company stocks.
Ratio currently at the lower boundary of possible
megaphone pattern, right below of the non confirmed
yet H&S's neckline. All eyes in yellow box, wick tail of
June 16th...
The title by itself is indicative of any possible trade, but it's more of an opinion than a trade opportunity, as probabilities here on an R/R basis, are not the best, which should be our only criteria.
As you can see in the attachments I was very positive and enter full long precious metal (jacked?) positions, on spot, futures,stocks and bullion more than two...
Recently, the gold and gold mining stocks have surged higher over the past three weeks. The highly followed Market Vectors Gold Miners ETF (NYSEARCA:GDX) jumped higher by more than $4.00 a share since May 29th, 2014. Today, the Market Vectors Gold Miners ETF is trading lower by 0.37 cents to $25.90 a share. The GDX is now overbought on a daily chart, so a pullback...
A Gartley and a Cypher pattern is pointing to the same exact destination for a sell reversal. We have previous structure at $31.31 & $29.38 coupled with confluence with two 1.27 extension ratios. $29.95. and $28.96 at the .786 retracment will be our kill zone.
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For inquires of...
I follow this closer than normal the last two months, as we are approaching one of good periods according to seasonal historical data, that usually price starts bottoming around June/July and rally late July to end of September.
www.seasonal-charts.com
This is the same chart posted a couple times before, but the rounded bottom I was hoping for starts to...
RSI seems to be in a uptrend channel, red arrow depicts the up scenario (potentially reverse head and shoulder), and the blue arrow depicts the down scenario.
GDX needs to move back above the averages and clear above the recent pivot high at $25.34
That said, the chart still seems to look more bullish than bearish..
SPY has formed a shooting star Doji near a all time high, which is likely to form tomorrow. A red candle tomorrow would confirm an evening star reversal pattern. Also notice the mini Head and shoulder within the larger Head and shoulder pattern. The major resistance and support levels are labelled @ 184.62. 181.31 and 174.03, would be places to take profits at...
This chart shows the year to date performance of gold vs gold stocks. We see that gold stocks of all kinds have outperformed gold itself. GDX is an ETF of larger, more established miners; GDXJ is an ETF is an ETF of junior miners. RGLD, SAND, and FNV are royalty stocks, which are basically firms that invest in other mines in exchange for a share of their output....
Some charts are broken, others are difficult to understand, some are messy and others are beautiful.
This one is beautiful. Respects trend lines, fibs, divergences, or anything else that traders use I guess to place their bets.
For me it's just polarity perfection. The way support becomes demand and vice versa.
So far price is following the path of a bearish...
