NEM Rising channel, heading to 2 week high of $68.88. Newmont is the world largest gold producer and ready to hit 52 week highs. The gold miners have lagged GC futures and GLD etf. Barrick gold is the 2nd largest producer and has a perfect ascending triangle. With FOMC july 30th, I expect these to breakout before and I would take some profits before known event....
On July 24th, SLV closing over the 2016 August high of $19.71. The next Fibonacci level (.786) is $23.48, then $26.93. On the options market, August calls for $22 was over 7000. Sept $22 calls over 12000. July 23rd, a $24/29 October call spread bought 20k in volume. FOMC meeting is July 30th and expecting jpow to say they are printing more money. Hope you all are...
🔥 DELTA7 Trend Score: ▲▲▲
💡 Quick Analysis:
M onthly ▲ - Monthly still showing on-going momentum. Pullback likely to be a reaccumulation
3 M onthly: ▲ - Solid widespread trending candle. Next 6months there a good chance retrace for stop hunt on the open of that level.
6 M onthly: ▲ - Price currently above yearly/semeter open which is a resistance range....
For members of Zencapita - I had mentioned the possibility of $GOLD going up, and the formation has been nice so far. If you're interested to learn more about how I see this forming up, join me today.
Remember to check out the chart on TVC:GOLD before trading/investing!
just now
We have a Bull Flag on the monthly for GLD, Price movement is expected to be around $12-$15 I'm going to play the options on this; buying the 45 Strike on Exp 20 March 20, if I want to lower my risk, I can turn it into a debit spread by also selling the 150 strike onEx [ 20 March 20 .. as of the writing of this the debit spread would cost $59 with a...
