With high conviction, I believe that Gold has more downside from here.
Good evening traders, While I don't hold gold, I hold alot of silver. Due to the correlation, lately, you can practically trade silver using a gold chart. I wanted to point out a few positive things gold has going for it currently. 1) We can see we have a cup and handle forming on the daily, now granted, the length of the handle is not well developed, and we...
Ideally, a 1 to 1 ratio with wave A & C would be needed at the very least in order for me to get involved!
My conviction is strong that precious metals are only beginning their rallies higher, however, we might need to base out first.
Real yields are the main driver of precious metals. Currently, the Fed is transitioning to a dovish stance while inflation is expected to remain above 2% over the coming 6 months, this is extremely positive for Gold.
We are completing the corrective Wave C to complete a triangle for Wave B. Upside target from there is $1,542.
$jnug $nugt $dust $gdxj Gold miners threaten Breakout
New Gold Sell Signal Could Trigger Any Day with a break of support trendline and trigger bear flag.
SILVER has a high probability of exploding in price. At this current level around $14 SLV , it is very possible that price could go 2x 3x or even more. Here's why... Double Bottom on Weekly chart Double Bottom on Monthly chart Bullish Breakout of channel from August 2018 - daily and short term Bullish divergence on Weekly I was watching this channel on SLV...
Hey all.... Well, the RSI divergence from my last chart crashed and burned, however, it has revealed an anomaly I had to share. GLD has just moved the exact same distance as it did in November and December 2016. On the Weekly chart, this is also the last time RSI was this oversold. Also, while not exact, there was a similar wave structure preceding the move in...
This last chart, a Monthly price chart, illustrating the Pennant/Flag formation in Gold should be the clearest example we can provide that Gold will soon break out to the upside and rally extensively higher if our research and analysis are correct. The momentum that has built up over the past 2+ years, as well as the global demand for Gold by central banks and by...
I continue to expect a move down to $14.75 before we continue the uptrend.
Silver has formed a bearish pin bar setup. There is a bit to be desired in this setup, but I think it does set up an opportunity for price to break lower and retest the 14.80 region. In regards to the pin bar, the real body is sitting a little bit high with a little too much bottom wick. I think it weakens the pattern a bit, but it is a fake out none the less...
DXY - weekly, start position in metals. Gold and silver. Hitting resistance of $97.51, RSI was OB. $Nugt $hgu $slv watch for fomc coming up. They might turn hawkish with todays economic data. NFP jobs miss, but unemployment down to 3.8 % and hourly earnings up...Good luck!
Silver appears to be headed back toward its major support at $13.00, from where it will likely bounce and continue in its current consolidation pattern...until it doesn't. Currently trading at $14.09.
Indicators point to a bounce off of low risk entry. Look at all that sell volume that hits like a hammer - smells like opportunity. Hitting the strong support of 15.00 on dying volume. CCI, RSI and strong support are on favorable terms for a low risk long at this position. Banks love dumping those futures to acquire physical at the cheap.
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. GLD GDX GDXJ JNUG NUGT SIL SILJ I share my daily pre-market video each and every day before the market opens on my website .