Hello again fellow traders and opportunists, it's your favorite (top three at least?) talking pickle. We have a beautiful setup on NYSE:KGC . This could
take us all the way to $4.00. Get your March options in while they are cheap. A fall below the EMA would be a good stop.
Don't get in a pickle!
Relish the moment,
The Shill Pickle
I rarely post two charts in a day but this one seemed pretty good. Self explanatory chart, Classic support turned resistance. I also see divergence between the price of gold and the gold miners, with gold not moving at resistance and GDX pushing up. I think that signals GDX is over extended. I can update it later to put more detail if needed. Short/sell at the Red...
Reversal possible off lower E into the holiday weekend as the shorts have had their fill smashing gold. Now they will load up and go the other way for several months is my guess. The miners should lead the way as they did not break down like gold did which shows positive strength. IMO>
The breakout to the south of the ABCDE triangle could be reversing very soon, as the longs have been scared out of their shares in a multi-day bloodbath, and now it is time to load up before the reversal. The mining shares have diverged from gold itself, as the same pattern is present in GDX, but sans bloodbath breakdown. If gold reverses into the triangle, the...
NUGT is completing the handle of the cup in orange. Also we have a head and shoulders that favors the bears. Still a good chance that the hanlde of the bigger cup which happens to be a inverted head and shoulders plays out to the upside. I have been bullish on NUGT and will remain until we break down.
i was lucky to spot the good entery level at 34,00s (see previos ideas posted) its been a good run and i felt the need to update the idea.
intraday chart forming a bearish heand shoulders formation at top. also there is a decent flag formation at the right shoulder.
the way i plan to play the chart is: although how bearish it looks dont get carried away and buy...
Gold miners and gold were under pressure as the dollar attempted to relive some of the oversold conditions. It seems that $DXY is finally moving lower and this is helping gold and gold miners
Gold mining shares have not been this undervalued relative to the price of gold in 9 years! The price of gold has just recently broken out of a 6 year downtrend. Buying gold miners at this low point in their valuation might be a good way to leverage the price of gold higher and maximise returns!
Great breakout here on GDXJ as investors fly to security with geopolitical instability.
We have a breakout of several different levels, making this a potentially very powerful break.
SIGNALS:
1. Breaking out of consolidation pattern since beginning of May
2. Breaking downtrend line from 2016 highs
3. Breaking over 200 day moving average
Entry: above 34
Target:...
Gold's explosive break today was a nice continuation of break-out from 3 days ago. Without getting too deep into the fundamentals, Draghi basically punted the EURO toward the moon and the US stock market's inflationary pressure is rocking the DXY into new lows.
The combination of gold strength and inflation makes junior minors a fun instrument. Careful if the...
Gold is looking to break the 2011 downward trend line.
If you look at the RSI, you can see that gold has been in consolidation since early 2013.
I truly believe we will break the trend this year, with fundamentals supporting this move.
We may not initially break the trend this month, however the only downside risk I see is to the 1230-1240 area (my thin...
