I went long on miners at points A, and B. I have been using this channel since October 24 to help analyze whether or not to add to my longs, or if we would drop to my second trend-line. Based on the help we received from Clinton today, and the fact that we closed over 1275, I believe the lowest we will see next week is 1268/69 (this is based on my trend-line, and...
I made the poor choice (captain hindsight), to long silver miners (point A) instead adding to some of my fav gold miners (AEM/BTO). My rational behind this was I truly believed that silver had bottomed at the $17 level (which has proved to have been correct so far), and that it would bounce back over $18 in the next few months (which it is still on track for). I...
This trend line has been holding on the weekly since January. If it continues to hold it looks like there will be another leg up before more ranging around the 1300-1330 level.
If my line holds, this tells me that gold has strong support and is currently consolidating. This could be a potential bull in the making. If my line breaks, then this will drop and turn bear.
Long this trend line on a retest.
Predicting weak retail sales data on Friday the 13th, this will be bullish for Gold. Wait for confirmation on Friday to long.