Pattern: Rising Triangle textbook breakout of resistance
Edge: There is bullish divergence in the money flow and it is breaking above the zero line. The "squeeze" indicator is firing today (red dots turn to green), which shows an expansion in volitily and indicates that price may start to move more drastically. It is firing "long" as the histogram is above zero ...
A positive momentum divergence ignited the uptrend channel we see in the gold market. After the drop it had yesterday we saw the support held right at the bottom of the channel, which is a bullish signal. Continuing on this direction a target of 21 is on the radar once the resistance is broken to the upside.
Had anticipated a reversal in XAUUSD if the broader markets recovered and the VIX dropped with an increase in dollar strength, XAUUSD broke an hourly channel today and is now potentially forming a bull flag based on consolidation over the last few days. So if Xauusd continues higher I am expecting the Gold Miners to do so as well. Head and shoulders pattern on GDX ...
If FEDs go back to the printing machine (further damaging of the monetary system), then would a sovereign hedge make sense?
I think the recent stock market volatility have made the FEDs think twice about being too hawkish. If my investment thesis is true then i think i'm seeing early speculation in #gold that indicates an alternative route to raising rates. ...
In important turning points in social and political behavior,
over the last 100 years, a fundamental sea change in
mass psychology which manifests itself seemingly almost overnight,
can and does impact financial investment suddenly,... with little warning.
I may be early,... and the technical pattern may not have turned bullish.. yet
but I am suggesting you ...
NUGT is ready to go up in a C correction wave as it is finding support around 1330. We can aim for an entry at that level and a TP around the 50-61% retracement.
For details on GOLD, refer to my previous idea, it is very detailed.
I am not going to draw any lines on this chart but just to say that after the Jackson Hole surge on Friday, a solid follow through has failed to emerge on gold. The $1,200 psychological level is right here and right now. If this level holds, buy NUGT, JNUG or UGL (or GLD if you want slow and steady), but if it breaks, you may want to consider DUST or GLL. Review ...
These are tough products to judge - this one has dumped further than we thought it would but we are not long yet and will simply watch it here - we dont think GOLD is done dumping yet but who really knows. #stocks #gold #trading #fintech #silver
Do you follow the metals? Want to see a classic double bottom formation setting up for what I believe will be a "Rip your face off" rally? Here it is.
I use quite a bit of custom index features to track the major markets because I believe these provide a clearer perspective of the markets than following individual symbols. I find the data to be key to making ...
I see the signs of capitulation in the PM minder markets.
$Nugt could go up 80% like previous time, with a target of around $24.
However, I'm aware we haven't seen real capitulation yet, but from a technical perspective, things looks quite safe to go long.
I also want to post this chart for those who prefer the riskier investments.
If GDX prints a 4.3 $ rally during the next 2 months that's a 20% profit.
At the same time NUGT will print a 60-70% rally. It means by the end of October we might see NUGT at 31$.
We will not reach yesterady's breakdown volume but the volume not bad so far.
At the same time gold is ...
Over 82 million shares were traded in the triple leverage gold stock ETF (NUGT) on July 17, 76 million in 40 minutes, which is about $1.7 billion worth.
This is triple the previous record of 27 million on December 15th, 2016, after which NUGT doubled in two months.