Will be fast now... My first NGAS recommendation was at 1.63.
With rising DXY also Crude price will drop. Independent which rising wedge is chosen, the correction target is in the range of 35-40 US $. Will certainly also have an influence on JNK/HYG...
Here we are. COT Report from last Tuesday just came out and as I got inspired by chartwatcher's Blees data on gold, I wrote a little script... Histogram: Blees Index (78 weeks) black line: COT Index (156 weeks) purple line: % Net Short All for commercials. Really striking: Gold and JPY sentiment changed significantly, DXY starting to change. Data are from last...
Movement of WTI and JNK highly correlate. With Crude heading to 55 JNK/HYG will correct accordingly. Should also have an influence on S&P500 . 2200 (S&P500)should be possible till next correction starts...
Volume action, MACD and slow stochastics point to a strong trend change in Gold. After completing Double Top yesterday the minimal Target is in the 1140 range.
Red support Line must hold, otherwise sub 1000 prices are possible again. Certainly no doubt that we are in correction mode... Long awaited and happy to finally see it.
Lowering Target to 14.50-15.00....
Really nice E. Waves on Crude. P&F Target is in the range of 55. Rising wedge seems to confirm this region...
I hope the chart is self explanatory... It's definitely time for DUST
A good indicator for the sustainability of a correction used to be JNK and HYG . Different to Nov Highs JNK/HYG followed the upward trend. Changing Target to 2200. Sorry bears...
Correction Target after Diamond Top about to be reached... Expecting 2.30 in a few weeks.
I wonder if I am that bearish that it's only me seeing the Head and Shoulders Formation. From the Chart the minimal target is in the 15.50 Region
Gold against a currency Basket is trading since Feb/Mar within my suggested trading range (see chart attached). Following Points make me bearisch again: 1) Failed BreakOut out of LT Resistance and upward channel 2) We see lower Highs 3) COT Positioning extreme Within last years it was always a good decision sell within the "Sell Region" (red) and buy in the "Buy...
NGAS starting to develop nicely...
One of the few things with massive shortage on rising and high inflation / inflation expectations is definitely physical MONEY. Any security paper producer in the world could be a better inflation hedge than Gold...