If you trust the chart (chart does not lie), GLD is the way to go! I know this defies common sense and logic.
Well known demand zone to those frequent trading the pm complex, goes back to 2009, where it's original base build before the explosion higher. Apart from the big positive divergence, momentum shows a double IH&S, hinting at a possible reaction at the same zone. Also considering silver's dual use as industrial metal as well,even by less percentage of its...
Friends, A bearish market reversal signal was emitted from my prop system, defining new bearish targets, namely: 1 - TG-1 = 116.76 - 28 APR 2014, moderate-probability and 2 - TG-Lo = 115.38 - 28 APR 2014, low-probability While this signal is offering a dominant directional bias, one should remain open to frustrating contingencies. Therefore, let us define...
Coincidentally, TIP has a reverse head and shoulder breakout. This seems to suggest inflation expectation is on the rise, and owning GLD is more favorable than owning DXY (dollar).
Friends, A quick note on this relative strength chart between Gold and Silver. Last October 10th, 2013, I offered a bullish directional idea based on the completion of a pattern of moderate/high reliability, called the "Kiss Of Death ("KoD"). As the pattern play out quite well, so did price action, as it is now ever closer to the targets defined at the time as...
Friends, This 4-hour chart has moved significantly to new structural lows, carving lower-lows and lower highs. It also tripped my prop system to emit a market bearish reversal confirmation, and since moved to a relief lower high. I would surmise here that the large impulse borne out of the beginning of the year (i.e.: precisely, 114.46 on Dec 31th 2013 to...
The correlation between SLV and BRF is more prominent that with GLD. Nonetheless the relationship between these asset classes are quite distinctive. long BRF, LBJ, ILF
This chart tries to demo gold price, dollar and interest rate can go same direction at times. So rising dollar and rising rate do not necessarily mean lower gold price (but most of the time, yes).
Miners working on a bullish engulfing week so far and a right shoulder against the metal. If symmetry is any guide, hints that we will have maybe another month spend in this bottoming IH&S formation. Cheers P
The piercing line candle in the Juniors/Large miners got confirmation and the NUGT trade opened. Needs a lot of work, as PM complex is in a downtrend, but the chart present a possible ABCD, a C&H pattern, a falling bullish wedge that is about to break and everybody I know or I read is bearish or short gold and miner stocks. A lot, and I mean a lot of junior...
This is just a tentative path that GG could follow based on Fibonacci extensions and retracments on a larger time frame. This is just for educational purpose, and meant to see where GG could be a year from now provided the pattern plays out.
Juniors/Large producers ratio put a piercing line candle yesterday in the daily (not shown), right at the last weekly support/demand zone. If confirmed, might be a good signal that Gold has a chance to go higher like the last time it happened and fight the outside weekly reversal which is an ominous sign on its own. A close above 1,52 in the ratio will be good...
Looks like GLD is rounding out it's 2nd shoulder to complete the inverse head & shoulder formation from the Dec/Jan low. Inverse shoulders are bullish patterns in the long run. Looking for a run to $135 then expecting possible resistance. All in my opinion.