Since Donald Trump entered office and said that the USD was too strong, the DXY continues lower. It is a good time to be in commodities. I added to my PM miners today NAK and JNUG. I hold WTIC with ERX, Go Long commodity, pick anyone you want. I see US Dollar at least to 92.22 before any bounce.
NAK is quietly breaking above the 75sma on the hourly chart. Poised to move higher. Looks to be leaving a bull flag behind. AB=CD could see a nice return up to 1.77.
I suspect this will be a very good spot to buy JNUG. Moving averages are supporting JNUG here. Looks as if the ICL in Gold and Miners is confirmed. Dollar relentlessly pushes lower.
This is a important week and especially Fridays economic reports. I can see a case for both Bullish and Bearish gold. Being so close to that trend line again, it would seem safe to wait before making any bets. But I am still leaning bearish. One of the reasons is because of technical, but an even bigger reason is that the dollar has been dropping hard for the...
XAUUSD is forming a head and shoulders pattern. Sell on breakout. Cheers!
Looking to trade SBGL long. with the 9ema above the 25sma this looks real bullish. Buy Today with 1st target price at the 75sma. Second target at the gap fill . TSI crossing the 0 line is bullish
We are at critical long term trendline. I believe it will break above in a strong move as we see PM's appreciating strongly
XAUUSD has just completed WXY pattern and is heading for lower levels. Cheers!
Is gold merely testing the breakout of the previous trend line here or above, touch and bounce off of MA 68?
Great buying opportunity has arrived, lets buy some gold in this area for 1309 area. USDJPY has become over extended and has entered into a great short opportunity and US 10YR Yields has also become over extended. Green pips to all
I was on vacation out of the country for the last week so I have not been able to update anything. But there really was not much to update. So to cut to the chase, it is my feeling that we are not finished dropping yet for gold. I am expecting gold to drop into oversold on the RSI 14 and also drop below the march low before having a legitimate bounce. So lets...
XAUUSD is forming an inverted head and shoulder pattern. Buy the breakout. Cheers!
Gold broke out of the pink somewhat diamond to reach near the bottom of the hourly channel. Then broke thru the 1215 prior low. Areas I'm watching for possible retest are: 1215 - Previous low we broke 1220 - .618 of Friday's drop Then expecting a continuation towards 1195 at next major resistance/support and bottom of channel followed by a correction before...
Miners have been beaten down due to the downside in metals recently, with UJ and XAUUSD at a good point for a probable turn around I am long JNUG in the 15's price tgt $20.
GDX inverse H&S nested consolidations. Expecting upside breakout in the months ahead.
All is on chart and is reference for hourly trade here:
I know I have been reading a lot about the big move in gold. And everyone has been biased bullish except for a few. I am more beaish today than I was last week. The time for the big move is next week in my opinion. I hate having to wait like this but the markets are on their own schedule. So the reason that I am into the bear camp, aside from the fact that we...