Caught in the twin grip of elevated US yields and a stronger USD, Gold may be on the defensive over the near term unless geopolitical risks still escalate.
Escalating geopolitical and trade risks are playing an increasingly supportive role in Gold prices, engineering rallies that are likely to stay high in 2024.
Gold Price Clinging to Highs Under $2'000. The...
Bouncing off the top of the LuxAlgo
Retail is buying for fear of the current economic uncertainty, so it's a good time for whales to squeeze the longs (and create even more uncertainty/FUD, to be exploited later)
JP Morgan has a huge short position
Multiple indicators are all pointing to an oscillation reversal (e.g., MACD about to cross down, RSI about...
This is a really simple trade. Here is a weekly candle chart showing nothing but weakness. Gold failed to breakout on any time frame. Now, it is threatening two plus year support.
If the support breaks, and only if it breaks, take the short side of the ledger. Ticker: $IAU iShares Gold Trust.
IAU looking tempted make a run this year.
1st - Probability Convergence Curve
Moving towards upper convergence.
2nd - Volume Curve
Near highs. The inverse correlation of this and the Derivative curve is a bullish sign.
3nd - Derivative Curve
Close to flipping up. Notice the shorter timeframes are trending higher ahead of it.
4th - Volatility Curve
Poised to...
Listen this boomer AF trade looks like it might finally go, monthly pennant, all gold charts are setup for this right now. plenty names. big and small. Check out XME monthly chart. Bullflag breakout. GDX/GLD. Pull up the yearly chart on gold tickers. 3bar up. Buying few months time / commons on this should be okay. Slow mover. Set it & forget it, semi - liberal stops
Weekly bars here. Pretty perfect triangle if Ive ever seen one. Watch for a breakout either way very soon, as these normally only make it to like the 80% point of the triangle before going through one of the two trend lines.
I am using the IAU ETF as my trading instrument to represent the Gold spot market. Looking at the Fibonacci retracement starting from the 2016 low of $20.44 and extending to the August 2020 high of $39.14, we see that the top two retracement levels are in play. The 38.2% level tends to be the most common for handy support and resistance levels. We saw price...
We didn't expect this type of move on IAU (we expected a return to 21 really) but welcome now we can almost retire.
Still searching for news if anyone has any on IAU it would be welcome.
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...
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:
