as the store of value of governments nations acting as underlying driver of ones economy.
this rock is being marked up as supply has already been accumulated in the last 3 years since GREXIT
and the next looming bubble that of Europe coupled with partisan politics... a flight to safety is the
natural instinct of fund managers to resort to good old HEDGE which is GOLD.
Classic Gartley SELL pattern formed in GC1 1HOUR Chart.
143 pips of profit potential.
1.56 Reward/Risk Ratio
Wait for an entry confirmation inside the highlighted zone, because pattern is counter to the trend.
I suppose it only makes sense that this pennant takes the same amount of time to resolve as the last pennant, a week and a half.
Based on timing, it appears that gold should go on another run early next week, this time because of a stock market drop (vs just a rate cut). Timing coincides with my SPX expectations of a dip next week.
I am looking for Gold to push higher to 1500.00 price point for target 1 and eventually retest the highs around 1900.00 I believe the corrective structure is coming to an end and a big Bullish wave is in front of us.
RSI with EMA Signal Created By Request For @motcha1
@motcha1 Requested the RSI with EMA Signal.
A Larry Williams Follower who says it's a Great
Entry Signal when RSI Crosses EMA When VIX
Is Showing A Potential Bottom. Looks Good!!!
***Waiting For The RSI To Cross The EMA I’ve Found To Be A Very Precise Entry Without Getting In Too Early. Thanks...
As you see in the image according to my personal opinion Gold will try again to reach 1439-1440. After failing we will see a fall til 1380. This is supported from the foundamental analysis where Investors are waiting from the FED a rate cut wich will give an addition push to the Gold to test the 1440 level. What I think is the the effect of Rate cut will last...
I believe the recent upside price move in Gold is the start of a very large PARABOLIC price move that will eventually see Gold well above $3000/oz.
Pay attention to my research.
Looking for a short term profit on a retracement to the trendline. Today it failed to break and close above the Aug 2013 Highs and there are signs of a retracement starting to play out since it:
1) Failed to break the resistance
2) Reversed from the daily highs forming a shooting start
Looking to hold the trade for a few days. If tomorrow (June 26th) continues...
Refer to chart for bull v bear TA signals emerged over multi-year. Watch for breakdown or breakup here... weekly bear div forming which I don't like yet... and with bollinger bands getting tighter and tigher the next eventual move up or down will be huge over coming months. I could see one more pullback to retest descending wedge breakout first before breakout...
Hi friends! Welcome to this update analysis on the gold market, via the weekly gold futures contract (GC1!) Let's get right to it!
Looking at the gold market, we can see that price has been in a multiyear sideways consolidation. On the left side of the chart, you can see that gold made an all time high in 2011. Since then, gold entered a bear market correction,...
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GC1!
