Since mid-August, sales in the physical precious metals market – red hot at the peak of the COVID outbreak – have begun to taper off slightly. This slowing of demand is directly correlated to price action. I will focus on gold specifically. A closeup of the gold chart shows a narrowing and tightly wound price coil of lower highs and higher lows. This narrowing...
Nice confluence of fib extensions/projections at $2,500.00 USD. Also terminates right at the upper band of the trend from 1980 and 2011 (not drawn) when viewed on a log scale. I believe gold is finishing up a symmetrical triangle from early Aug. '20, and before continuing it's parabolic move up. If so, get ready for some fireworks!
Has been consolidating and IMO basing for a bottom. Rejected breakout though so may need more time. Stay flexible 🤸🏼 $UUP $EURUSD $USDJPY $EEM $GLD $BTC $TNX $TLT $SPY $QQQ #Trading #Currencies 💱
Looks like Gold broke down on the hourly chart with a double top thing at the triangle wedge resistance. Looking for the bottom support of the triangle wedge... The run up appeared very bullish for a bit but one should wait for firm breakout. Loooks like the next two weeks would be volatile, either up or down.
latest shenanigan activities of secret distributions
Gold (USD) daily- Upbreak coming.
Gold (AUD) daily- Rising Wedge pattern. thepatternsite.com
see full chart & Follow at www.tradingview.com A while back, you may see me call the top on Gold because it was up 25% in the last 12 months. while market was only 7%. Some things have changed since then, Gold came back down a bit, The FED (FOMC & Powell) have declared they would let inflation run wild. Interesting pattern on Gold, as market is starting to dip....
New trend may really be unfolding here.
GLD -- Gold -- appears to have defended against the descending triangle breakdown potential with a new round of buying/support above $1900/178. Now, a squeeze through the sloped resistance line is likely.
Thanks for viewing, Initially posted in 2019. I was a buyer of silver bullion since silver crossed the 80 mark. That included adding significantly to the holdings during the steep drop earlier in the year. It hasn't always been a comfortable trade, but it has worked out rather well to date. What I expect next is, despite continuing tail-winds for bullion, the...
Major support at 1900. There has been October/November options flow purchased last week for gold stocks; WPM, GOLD and GLD. FOMC decision is on wednesday and expect more dovishness from JPowell. Longer lower rates, until a vaccine is approved. Trump wants a lower dollar as well, so its all working out for his election needs.
MASSIVE bull flag. Cup and handle forming at top of flag that might break. High target from flag pole is roughly $205. CH price target is roughly $188. Price target from the flag is about $194 (ATH). Failed flag should fill all gaps below and bring us to $170
looks like it is entering into a new phase of trading. If the count of ABCDE corrective wave is valid then the next wave COULD be an impulsive wave.
If you're ever wondering whether or not the market is looking rocky, a good way is to look at Gold -- money will flow out of stocks and into commodities as a hedge, and in this case, GLD is holding within this symmetrical triangle. However, if GLD looks like it's consolidating here with the oscillators indicating strength. This *could* be a sign that investors are...
check out the MFI downtrend breakout. It might serve as an early buy signal..