I see two things: 1) Gold and Bitcoin have been negatively correlated lately. Could a bounce on support in gold (@1200+/-) be signalling a pullback in Bitcoin? 2) When gold took out major support, both gold and Bitcoin sold off (even though the last one wasn't much on bitcon) If gold breaks support at 1200 (with follow through), will bitcoin fall with it?...
Gold is expected to drop to US$900-1040. Then the final leg of the bull market is expected to peak around US$5000 in 2017.
$GC_F $GLD Bouncing nicely off the bottom end of its recent range....
Gold looks heavy today, can it hold the trend-line? $NUGT $DUST $GDX $GDXJ
gold has dropped and shall keep dropping from current level ,dollar strenght is always gold negetive ,if you see the close of eur/usd it is showing good strenght to weeken further
Now it will get correct to 1325 to 1333 area. After that we will start toward the next target 1260-1270
1223 1180 possible downside targets $GDX $DUST $NUGT
I like how the Fibonacci retracement and extension levels match up around the whole number giving gold a 100 point range. My original position was entered at 1316ish and subsequently sold at 1352ish. Now I'm looking for the next trade. I see gold in the middle of a range, ultimately, I can see the trend shifting, but I usually don't trade betting on a trend...
Bearish butterfly scenarios peg 1560 and 1665 as potential reversal zones. In other words, completed patterns suggest lower from one of these levels; but not before a double-digit build-out from current levels. $GLD