Dollar index is testing its lower support channel and could have a strong bounce, which in turn would send precious metals tumbling. Gold miners are looking bearish on the daily chart and I expect a move lower this week. See more videos at www.TheTechnicalTraders.com
This is my first video on Tradeviews and I'm still learning the software but I wanted to give it a try and share my overall analysis for what you should expect next in gold.
I share my daily pre-market video each and every day before the market opens on my website
Our ongoing efforts to dissect these markets and to help educated and inform traders has led us on an exploration path into the general market activities of two leading market indicators; Commodity prices and Transportation Prices. These two core elements of any regional or global economy are usually about 3~6 months ahead of the general markets. When viewing...
market panic fear, gold up.
market fearless, gold down.
Looking to see some movement in the morning to drive these reactions.
Long 2000 shares @ $10.83
Take Profit $11.20
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.
The US Dollar is poised to rally back to near $97.50 as this recent downside price swing ends. We believe the US/China trade talks and North Korea deal with result in a strong upside potential for the US Dollar and the US stock market as time progresses.
A certain number of industry analysts are starting to announce the recent December 24th lows and subsequent...
The chart is self-explanatory but in short, if the dollar's pullback here is what it looks like then expect a strong dollar rally and for resources to correct. There is more about what should happen with gold in a recent blog post.
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.
Here comes the moneyyyyy...... Or the gold to be more specific. Gold is going to have a great year, today the FED is confirming a more cautious approach to rate hikes and that means a weaker dollar and a stronger gold. Junior Miners are about to catch up and the JNUG is confirming a break out of an Inverse H&S pattern plus a bullish MACD cross on the daily chart....