Everybody is waiting for gold to go 1310. Especially bulls who bought gold above 1200 in the breakout or at 1190 at the backtest. The bear is over? Yes. In the long term am I waiting for gold to go higher? Yes. But I don't think gold is a long in the following 2-3 weeks. Time for the correction: MACD crossing over TSI crossiing over. RSI looks ther same as last...
I post this as a neutral chart, though I think the chances are much bigger for a decline in gold. Why? COT is very bearish ( I will post soon) Gold's weekly chart has a hanging man + we are turning down from the 200 EMA We are on day 26 in the daily cycle which usually lasts for 28-35 days So there are 2 possibilities of breaking out of the triangle. If you play...
After the triangle breakout the next level is 1196, 89. It's the daily chart's 10 EMA. Gold was trying to turn up from the 10 EMA during the last 2 days , so that's the first level we have to break. After breaking it we will heading down to 1180 (02.10. low) . This level is the FIBONACCI 38,2% retracement of the previous rally. I'M STILL WAITING FOR THIS...
After the triangle breakout the next level is 1196, 89. It's the daily chart's 10 EMA. Gold was trying to turn up from the 10 EMA during the last 2 days , so that's the first level we have to break. After breaking it we will heading down to 1180 (02.10. low) ( highlighted in a red box) . This level is the FIBONACCI 38,2% retracement of the previous rally. I...
Gold has formed a triangle on the hourly chart. I was waiting for it to break down, but the banks who are controlling gold prices managed to make a breakout to the upper direction. The breakout had no follow through we are heading to 1190 with a key reversal. More pain is coming.
A triangle is forming in gold 15 MIN chart. Usually it's a continuation pattern so I'm waiting for this to break down soon to test and break 1190 .
The Commitment of Traders report (COT) was published at the close of last Friday's trade always shows the Tuesday data. The formula for Blees rating uses the Commercial Traders net contract holdings at the date of the current COT report. We inserted the Blees rating into the daily chart . Today's COT data will be published on Friday. I think it's going to be...
After the succesfull test of the 2015 Nov IC Top and the hourly 50 EMA at 1190 we had a testback to the hourly 50 EMA. Next level is 1180 . The hourly 300 EMA and the 61,8% Fibonacci retracement on the daily chart is at 1180. It's still not the daily cycle low. So don't try to buy. More pain is coming.... I will try to sign the exact daily cycle low, which is...
After last week's monster rally on Friday and today gold started to move down into its DCL. If the bear is dead - and I think it is - this should be gold's first bull market countertrend rally. It should be fast , painful, scary and has to get everyone very bearish to let gold build its second leg up. This DCL should come back to the 50% FIBONACCI retracement......
Today on the daily chart of the S&P broke the trendline and forming a double bottom. We could have the same setup a last october with 4-5 weeks rally... Even if the selling pressures comes back next week , this week we can have a nice bounce for 4-5 days...
Friday GOLD was on day 20 - it's a possible daily cyce top so it can start moving down into the daily cycle low. The possible levels: Level 1 : 2015 May Intermediate Cycle High (1232) Friday correction was able to come back to this level Level 2 : Bear market trend line test back (1200-1210) Level 3 : 2015 October Intermediate Cycle High (1191) + 10 EMA I think...
The Commitment of Traders report (COT) was published at the close of last Friday's trade always shows the Tuesday data. The formula for Blees rating uses the Commercial Traders net contract holdings at the date of the current COT report. We inserted the Blees rating into the daily chart . It supports GOLD's RALLY we had last weeks. Gold's bear market rally...
GDX ( Market Vectors Gold Miners) printed a shooting star yesterday. Today we had a decline in most of the gold miners and NUGT. Tomorrow while the stock markets are bouncing gold also could start its decline into the daily cycle low. GDX target : at least the FIBO 38,2% (15.8) Maybe we can come down to FIBO 50% (15.15) If we are in the GOLD bull market we...
The Commitment of Traders report (COT) was published at the close of last Friday's trade always shows the Tuesday data. The formula for Blees rating uses the Commercial Traders net contract holdings at the date of the current COT report. We inserted the Blees rating into the daily chart . It supports GOLD's RALLY we had last weeks. Gold's bear market rally...
On the 4HRS chart MACD is turning down and crossing soon. It's a strong sell signal. The daily cycle is supporting us: we have 5-7 days to find the daily cycle low. The possible take profit levels are at the 20EMA, 50EMA, 100EMA. Even if you are just a daytrader this setup is very good. We must come down to the 20EMA.
Commercials like to unload their positions at the breakouts. Small speculators are entering into positions at the breakouts and stopping out during the pullback. Most probably this thing is happening here when gold broke above the october high and price tagged 1200. In the last 3 hours of gold trading price dropped more than 10$... We should come down into the...
The last daily cycle length was 19 days. We are now on day 16. At the beginning of next week bears will try to take control in gold. Gold will move down to its daily cycle low. Friday on the daily chart we had a powerful Bollinger Band crash signal. Bear is over ? Possible. Open the position at this daily cycle low. Not the top.
Everybody is talking about the possible bear market end in gold. But how many times were we toasted in the last 4 years???? We are in the 2nd daily cycle of an intermediate correction. (Day16) Gold daily cycle usually lasts for 20-25 days. in the following week we should start to move down to the daily cycle low. This bear market rally is very powerful, maybe the...