Gold is testing lower levels of support as market participants aim to price in a potential rate hike in June by the Federal Reserve.
While intraday price action is oversold, the daily chart is indicating further selling could continue to below $1,230. If a close below this key level occurs, traders can expect XAUUSD to reach $1,215.
Subscribers of MacroView's...
Key level in US dollar here...
GDX: Limited upside until first resistance level.
Longing JDST here without planned stop loss...
Miners are pretty overstretched with JNUG +800% over 4 months.
JNUG rise will fill gap in next 6 weeks with gold on the path to go above $1300 to at least $1338 in the next few weeks especially as Sell in May comes into play with global growth slowdown impacting earnings for many companies especially Blue-chips. The view of gold as safe-haven asset in times of volatility and turmoil will help this rise in addition to it...
A series of events took place causing me sit back and contemplate market participants (in)sanity. First, it is known that I've was one of the first to stick my neck out and tell it how it is – the U.S. Is facing a recession in 2016 – last April. Soon after, various investment banks flirted with the potential but gave the very realistic situation very low...
Gold prices have been volatile, flucuating between $1,275 and $1,220 as markets remain indecisive on what stance to take: is the Federal Reserve going to continue hiking assuming the economy will "gradually improve," or with traders continue to look for safer locations to place there cash?
According to recent capital flow data, the GLD has seen redemption as...
Despite what so-called gold bugs have been trying to predict for years, it still remains seen how valuable the most "hated" asset on Wall Street can be. Calls of $10- or $50,000 gold have made headlines and often laughs, but when investors take into account the supporting fundamentals, gold can be extremely beneficial during these centrally-planned...
Gold has pulled back slightly, but still up almost 15 percent since 2016. Traders don't believe the current rally as they look hopeful of more central bank quantitative easing, which is exactly why gold has had its run this year; and it is why I have been saying fundamentals have been strengthening for gold for roughly 16 months.
After gold volatility hit...
NEM is a stock I bought recently that has seen some nice gains. For fundamental reasons this stock has looked very attractive for a long time. I recent bought as technicals finally confirmed what my fundamental analysis was telling me.
You can see price broke out from channel, but found a bottom around 16.00. From there we broke short term down trend line, and...
You've got a lot more to prove longer term as you face a resistance storm ahead, you do realise? Yes, your trend breakout is in direct correlation with negative sentiment in the main indexes so don't get too excited yet. The big money is just using you as a hedge right now.
Oh btw - Here's a study conducted by Thomas Bulkowski on trend breakout failure rates -...
Not much has changed since our gold correction commentary post on the 10th except that gold had spike up to $1263 on Thursday after global equities weakness and continued fears about European banks.
The fib retracements have stayed pretty much the same except now moving up a bit. For the most part, our analysis has not changed as we still anticipate a move lower...
Gold mining stocks have been trending higher, along with the overall U.S. equity market, of late. The recent support in gold prices allowed the Market Vectors Gold Miners ETF (GDX) a strong close last week, pushing 15 percent off the November 18 low.
Gold mining stocks really get a pass from traders, and it is still early to determine whether the move will last...
Friends,
With recent news of $GLD from Stan Druckenmiller positioning, I decided to pass the ETF through the Predictive/Forecasting Model and other technical screening combs:
PREDICTIVE/FORECASTING MODEL:
The "Model" suggests a higher-probability decline with the following targets:
1 - TG-Lo = 97.65 - 17 AUG 2015
and
2 - TG-Lox = 86.37 - 17 AUG...
Friends,
I prefer not to dwelling in lower timeframe charts (e.g.: M15, H1) simply because they are often subjected to aleatories of higher timeframes where institutional traders tend to live.
However, I have been in this one right before the splits, entering at 2.061 this past mid-December 2015, and been following this pawn either directly, or via other gold...
