Gold prices had been on a year to 2000+, and this was expected over a year ago (may not have been posted here previously). Nonetheless, it had stretched to reach and exceed its target, and is now contemplating what to do. As it does that, the Gold futures GC1! has made a series of lower highs(marked by the white resistance lines). The thing is that it is not...
After a nice $200+ correction from the fresh all-time highs, Gold appears to be making a new triangle which could breakout to the upside by the end of this month/early-September. While spot gold did go lower which is not reflected in the GLD ETF, spot prices did not stay below $1900 for more then 4 hours which shows there is very STRONG demand under that price....
GLD fundamentals and technicals both supporting a breakout of a 9 year rounded base. Currently flagging with support at 180. Breakout of wedge is 187.50 trigger long, targets 190/195/200.
See waves in chart. Looks like it has broken through resistance and ready to make a move up.
Possible $GLD Pattern Breakout. Look to break $185.82 for Entry Levels above are $189.40,$191.80 $194.45, and $199.68 The $185 calls for this week can work
Rich people don't hoard the dollar, neither should you. They put all their money into inflation-hedge assets as dollar continues to depreciates. Put your money into the good use.
Show my bullish/bearish scenarios. Leaning towards more correction to around ~165
Now that I am even more confident in the correction process we are witnessing. Check out the TA let me know what you think. I really can see a full massive correction happening or possible a half way correction. Whats your analysis?
Took Call position in $VXX on 50% Fib retracement looking for $30 range
Please share with me your thoughts Regards
Fed announcement breaking the Gold's bullish flag above. Here we go again...
Gold Daily (AUD)- Still overall bullish.
Watch for downward pressure on the RSI. We have a descending triangle with Bollinger Band compression providing a slightly bearish outlook. If we drop down below $1900 I would not expect support until $1820. It's possible to move sideways for a bit, and then go back up to $2000 or higher. This is not financial advice!
see full chart & Follow at www.tradingview.com What's the significance of this? KEY TAKEAWAYS -Gold has long been considered a durable store of value and a hedge against inflation. -Over the long run, however, both stocks and bonds have outperformed the price increase in gold, on average. -Nevertheless, over certain shorter time spans, gold may come out...
For active traders, the market action in the metals has been tremendous over the past month. We posted a short idea yesterday in copper HGU2020. The market is higher than our entry. The 7-day ATR in the GC is over $55 and we saw a nearly 4% decline in today's session. BTC and cryptos followed along lower. We're entering a long position MGCZ2020 based on a Ext...