I scaled back my gold and put that money into Ethereum several weeks ago. Gold has been working its way down and although is showing signs of life (along with silver), it doesn't yet pose a big opportunity. I'll be watching the current up-tick to see whether we break out of the channel permanently, or whether we then resume down back down into the channel.
I've been holding onto gold far too long in this downward trend (the last time we appeared to be breaking out of the channel). I've been scaling back on this downward trend line. Gold and Silver have to reverse at some point right? Not so far they haven't. There is a lot of chatter about a 'long overdue' reversal in gold and continuation up, but at what...
Gold showing some daily Bullish Divergence! It's do or DIE!
What would you do? There seems to be heavy resistance at 18.50 and no real exciting support until 16.50. The previous stimulus checks don't seem to have really moved the price of gold. Where's the inflation? Normalized by DXY:
iShares Gold Trust (IAU) is a passively managed ETF that seeks to match the movement of the price of gold. It provides an investment vehicle for gold by backing shares in the ETF with gold bars held in trust. After a steady recovery from the trough of March 20th, a trend reversal starting on Aug 5th manifested as a descending triangle (or perhaps a large pennant)...
HHHL + Y1<Y2 X2 is around the same length as X1 now. It should make a reversal up soon. It is also a good sign that the angle of X2 is a lot flatter, rather than steep. got power up if W&R success.
Wyckoff analysis of gold etf (IAU) using zig zag
Volatile market. GLD too expensive, high premium. IAU excellent alternative. Shorting Gold for IAU $140 Strike at $0.15. GLD/Futures approximately high 140's.
While the rest of the market ran bullish at the end of the previous week, Gold dipped negative, crossing below the 30-day and 50-day moving averages. Prices are currently trading horizontally in the short term with $16 being a support level that has not been broken, despite several tests since mid April. Low MACD amplitude swings also correlate to a near-term...
Technicals: -------------- $16.03 and $16.61 are approximately the short term support and resistance levels, forming a channel where the price is being pulled horizontally. This area also appears to be a price consolidation point around $16.38 following an April 20th high volume day. Fundamentals: ------------------ Gold is trending up. This momentum is due both...
I believe it can! Look at the massiva voluma.
End of bullish trend for Gold? Or are we under a bullish trend?