When in doubt take a look at the bigger picture!
So far gold has retraced a bit more than 38.2% of the rally from $1,045 to $1,375. This is the minimum condition for a healthy pullback. If it can hold around the current level ($1,250-$1,270) it is showing some real strength and hidden bullish divergence.
Looking at the slow stochastic it is extremely oversold and...
Due to the liquidation wave in the COMEX future paper market the gold price is down more than $135 (-9.8%) from its recent high in early July. This is a healthy and necessary pullback which offers the chance to buy the dip. The price target of the multi-month descending triangle pattern has already been reached at $,1240.
Basically gold has just corrected back to...
As long the price is trading more or lesse above the upside trend (since February`16) bullish!
round about 1303 should be a bullish support area
round about 1284 should be a bullish support area
round about 1263 should be a bullish support area
if the bears are winning the terrority backs,
- even more or less around the 1303, 1284, 1263 price levels
(and...
Here are the potential scenarios:
1. More sideways consolidation above/around $1,200 over the next couple of weeks until 200MA ($1,266) is hitting $1,200. That might take some more time.
2. Final sell off down towards the rising 200MA ($1,166) which would get everybody panicking and would create an outstanding entry chance.
3. The lows are already in and once...
The reason why we feel GOLD may Rise.
* On weekly basis it has just started moving DOWN
* To SINL and come near 1228 levels
* Stoch RSI (3,3,14,Close) is Sinking.
* RSI (14,CLOSE) is Sinking.
* CCI (20,CLOSE) is Sinking.
Keeping all the above indicators in view along with the chart pattern we expect it to Rise. Our SELL call shall be from SELL BELOW :1245.09,...
DJIA is expected to sink now.
There are many reason why we feel it may sink.
01. It has CLEARED quarterly TARGET 02 level. and may come down for a bounce back soon.
02. Bearish Engulfing in daily Chart.
03. To sink and come near 1204 to 1197 levels
04. Stoch RSI (3,3,14,Close) clearly states it may sink.
05. RSI(14,CLOSE) Is also of the same view.
06....
