#Gold is now retesting the rising trend line from the Aug '18 low. A break here would target the major horizontal breakout area ~$1530-$1540. That will be the last gasp to preserve a bullish regime. Below that level could send gold down towards a 1370 retest. #GLD #GDX $GDXJ
Gold is now outperforming bitcoin since Grayscale launched the #dropgold ad campaign May 1, 2019. Will be interesting to track this over time.
According to Bulkowski's chart pattern- 81% probability of breakout (up) as the trend leading up to the formation (bullsih).
Have a great day
Weekly chart showing pattern incomplete, price may reach to $1733.. watch UGLD !
Considering a play on GLD the ETF representing Gold as It appears to be immune to the coronavirus. Hoping to snag an entry around 155 with hopes that a Bull flag is forming, which would set the target profit point around 168.
This looks like it is setting up for a nice run, watching 17April $160 calls or longer
But this is finished for a bit! Time to cool off!
TVC:GOLD : STRONG BUY Analysis Method: Fibonacci & Wave Theory Please see past GOLD analysis for further information: snipboard.io snipboard.io snipboard.io (Feb. 2019) snipboard.io (Dec. 2018) - First Recommendation - $1,116 Monthly Chart: Beginning Cycle Wave 3 Daily: 6 Hour Chart: Extending Sub-Wave 1 Extending Triggers: Target:...
No mater how bad the news around you, look at the gold, it's NOT going for new high! stay away from it until it reach a 0.618 retracement area, about 1510 however, I expect it runs 3 months and end during Apr 2020. price level will be adjusted with the time frame.
After a shocking drop last week, Gold recovered, and just broke out of a trend line resistance to resume its rally up... technicals like MACD are supportive, and fundamentals like loose global monetary policies encourage.
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After the Feds cut rate today, market sentiment push gold prices. We are expecting a retracement to our key level zone of around 1630's. From there. we'll look for buy entries to target 1653s. If 1653s break, we may head back to 1680s.
Gold has been crazy this past week due to heavy corona virus news. We are expecting price to retrace to our weekly key levels. Either 1590.500 or 1550. We will monitor how price will react to these areas.
GLD has dropped sharply as precious metals became a source of cash during the crash last week for overleveraged asset managers. But this could be a mechanically-charged shakeout in a continuing trend.
I think gold is selling off for no real good FA with coronavirus escalating and the markets r clearly spoked one would expect silver / gold to perform well. So my theory is that the sell off in gold should be seen as an opportunity and this co has a 3.87% div plus FA is very good, low debt, quality junior miner
Gold is back at retesting the flip zone. Many are confused on why Gold fell as everything fell except Bonds and the VIX. This is likely to do with margin calls forcing traders to close positions even in safety assets. I am still bullish on Gold going forward as it is a confidence crisis asset when people begin losing confidence in governments, in central banks,...