There's a lot of flags right now being raised on miners. Even though gold has slowly crept up from its recent fall, miners on the other hand have not correlated with gold which should be seen as a red flag that the correction is not over. Also the nearing of the death cross should be taken seriously. With that being said, my bullish bias is telling me that bottom...
This just in!! If true, be careful tomorrow!! King World News just reported that an associate of George Soros leaked info that the US GDP data tomorrow is going to be slightly better than the forecast. The forecast is for GDP to have risen up to an astounding 2.5% from 1.4%. I think that would be a huge jump. But KWN reported that it would come in at a...
NOTHING SET, NO TIME, JUST WATCHING. CURIOUS.
1 Day Chart Are we about to start wave 5? I say yes and I am excited for it. If wave 5 is the same or bigger (as I have heard some analysts say for commodities) than wave 3, then I have worked out two possible price targets to reach probably Tuesday or Wednesday. A 100% Fib gain of wave 3 is approx. $16.58 which is coincidently right at about a resistance...
Could be a turning point as a saucer for bulls or a cup and handle continuation... we'll see.
Watching for patterns to complete. Down needed to reach neckline. Complete the harmonic, if it doesn't fall too low it should be valid to retrace to either 38.2% or 61.8% to form right shoulder, then drop. Lining this up with large US events. As always, levels are more accurate I feel than time. So we'll see when it all plays out, if it does.
Bulls in danger of loosing it all, Breach of $1255 Gold Spot invalidates Inverse Head and Shoulders. Bears pressing to the max. Downtrend could continue to $1220-34 range before a bounce. 15min time frame shows A/D w/ potential Inverse Head & Shoulders, however Strong Head and Shoulders on 30min A/D chart. Watching Gold for $1255 breach will only short scalp from here
4 hours chart Lets start with what I got right. Non-farm payrolls was a miss and unemployment ticked up to 5% and as a result of this poor data, yes we gapped up at the open. I was saying between $1 and 1.50 and it was $1.21. But then down she went. So what went wrong? Yes its manipulation. Just about any other time of the year when we get numbers like...
2 hours chart As my data changes, I will update posts and charts as early as possible. Is anyone not confident that we go up? I believe we had our bottom today and a nice reversal. Gold should follow soon. I believe that we are going to get some economic data in our favor either tomorrow, but most likely Friday, that will launch this thing. I am looking at...
I expect USD to increase over the next week or so and with that in mind gold prices will be lower. My idea would be to choose one day to buy JDST and sell at the end of the day. I don't like to hold 3X Leveraged ETFs for more than one day (overnight) because of re-balancing, Once my target price is reached I may sell and buy JNUG for the ride down. It is always...
This chart pertains to a revision of JDST sell set up link below. Sell target should be within the week of Oct 10 to 14th
I wasn't going to post another chart until Friday but after reading my update, it seems easier to follow along with what I am saying with the updated chart as well. Ignore the Pink arrows and boxes, that's just for me to keep an eye on. well price dipped below the major trendline today, signaling that sometime in the not too distant future it will drop below it....
Support Level 1316, next horizontal support 1308. Resistance 1338. Gold will need a catalyst to move it up. Possibly OCT 1 china is admitted into the IMF SDR basket. China entry could weaken the dollar. Next catalyst is a no hike for December. I can see gold reaching 1400 by the end of Dec if we get no hike at all this year.
Well the black trend line did not hold like I thought it would. Price also briefly dipped below the blue trend line. That is usually a signal that it will be broken in the near future. So it appears that jnug will continue down tomorrow. The two areas that it could bounce off of are $17.50 range and if that is broken then $16.67 range. But that looks to be...
Looks like dollar on a weekly chart looks to form a head and shoulder pattern.
All is on the chart. Watching Price Action close as dollar and different markets open after FOMC for the first time.
SO, While researching DUST, I discovered a possible conflict for Jnug price targets. There is possibly another path, represented with the pick arrows and boxes. So here is my trading plan (subject to change as we proceed). I currently hold DUST, which I bought this morning (9/22) when I saw JNUG get rejected from the upper wedge. I plan on selling DUST,...
I see a dec no rate hike moving gold to 1380 to 1400, but looks like a consolidation might take place. Also dollar is gaining strenght