Gold is on its way to retest the upper trend line,hence creating another lower high before another huge drop to 1830-1800 region before the main bullish trend resumes.its is however prudent to exit sells at this level and look for buys..Good luck
GOLD is trading in a rising channel with the smaller rising resistance mid-channel being the closest to watch.
We've missed all the long opportunities so far as any buy now will be a buying high with dubious risk-rewad ratios.
Thus we are looking at a short. The first good looking short area is the confluence of the...
GOLD will soon reach resistance confluence and start falling again
GOLD will retest the broken resistance that became support
Sell when resistance reached
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GOLD is trading in what might be a bullish triangle OR a bullish flag
Which means that eventually the pattern is likely to break upwards
Yet the current buildup of the similar in nature resistance structures
That are mounting on the lower levels than before
Give us a decent chance GOLD will show one more lower hight
GOLD has recently seen a good correction from the all time high peak onto a confluence of the support lines of various reliability.
It is so far impossible to know what path will be chosen by the market, yet the overall sentiment is bullish, with the recent correction serving as a sign of health of the growth.
The first couple years is when in 2009-2011 precious metal mining stocks far outperformed the gold and silver underlying physical. But if you did not time the market well and exit at the top with the bearish divergences, you got wiped out as the mining stocks tend to tank 90-98% during the subsequent bear market.
I believe we are starting the precious metals bull...
Gold looks very bullish to me. Long, S/L 1666, target 1900 area
While i think US indicies will drop below their previous low ~2200 i don't think Gold will follow but
will make a new high instead. Should it be drawn down with the markets i buy on the way down.
Miners are still a good buy in my opinion.
Welcome to my series of macro outlooks where I put together threads focused on long term perspectives for major asset classes. My goal is to provide you with a long term view that I update on a monthly and sometimes weekly basis so that you can have the means to make wise and calculated trades in the shorter term.
I have threads for assets that are typically...
XAUUSD will explode in coming days and I also see a nice falling wedge pattern in GOLD (Barrick). The pattern has been broken already and the price is making a goodbye kiss of the trendline. Time to load Dec options with strike @18. They are cheap. This nicely converges with my view on SPX500 .
I suspect gold is in the middle of a cup and handle continuation. Though it's technically too early to call, I suspect price action will play something like this. Lines were drawn around ~$1,400. Pull backs are for longs.
With the tensions going on politically between the U.S, Iran, China, Russia, North Korea, okay wait, this could take awhile.
The chart looks decent now, Gold is "Technically" out of a bear trend / bear market, IMO.
Time will tell per usual.
If you're in the membership then you made an absolute killing on this last week and we're going to continue to look for chances to get long, if they present themselves. I am looking for price to fall a little lower to test at or near kijun sen to get long. If we get a good reaction with price either get a good support candle or bounce right off of it, I'll enter a...