Gold is oversold on the RSI. Had a doji reversal last Friday. And HUI miners keep signaling lower gold. Anticipating a move back to 1300. JDST is near previous all time lows @ 29 from February
If the Fed doesn’t deliver a rate cut Wednesday, expect gold to sell off
I am expecting gold to move into its final drop and possibly bottom in February. Then we should get a very strong move up similar to the 2016 run. I do not see the start of the bull gold market. Just a large strong C wave up to above $1400.
And miners should also make a similar move as the 2016 run. GL
I'm anticipating the FED not cutting rates - this will cause other central banks to cut, which will force the dollar $DXY up and gold down. Chart looks like a double-top is forming with momentum sliding.
Again, the only way gold goes up if we start war with Iran which last week looked like it was going to happen. Doesn't look like most of the globe is accepting...
I like the look of this chart of DUST. I bought this morning. It's always risky holding over the weekend but its a small position, relative to all holdings. GOLD is breaking below $13000 looks good for a pullback. Cycle wise we are due.
Gold is looking to retrace back to around the $1300 psychological level. This is right around the .786 fib level of the current move. Gold is still in an uptrend overall, and may just be in some need for slight consolidation. Also, with the dollar index showing slight signs of strength, this may push the gold price slightly lower.
I believe gold will retrace to the next fibonacci level, and may possibly bounce from there or retrace further to the .5. a small dead cat bounce was observed directly off of the first fibonacci level, with strong sell volume present.
In relation to all my predictions, I believe people will panic buy JNUG as a reaction to -13% drop we might have on Monday, Oct. 15th. In my opinion and not financial advice, I would sell it and go JDST after taking profits at the ~48.9% pop.