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GOLD at 30 year support


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#1 Rogerdodger

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Posted 13 November 2014 - 11:38 AM

I am in-out-in NUGT @ average around 10.
Last week saw a huge volume reversal from 9.51, which might be the low.
Now I am looking for price over 13.60 for a higher weekly candle & to add on weakness (unless that 9.51 low is violated).
Now looking for either a higher or lower weekly close as the battle is joined.

This is a pretty good article and it describes my view:

We are not rushing to pour money into gold stocks at the moment. Our preference is to see strength in an area before committing capital. However, again, for a trade, if we were to attempt such a knife-catch, it would be done at a major level. A very reasonable argument can be made for that now as it pertains to gold stocks.


http://finance.yahoo...-203640500.html

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Edited by Rogerdodger, 13 November 2014 - 12:01 PM.


#2 Rogerdodger

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Posted 13 November 2014 - 11:42 AM

GDX and GDXJ are off an average of nearly 31% this year. That puts both ETFs firmly in bear market territory, but that is not stopping some market observers from forecasting a rebound for gold miners.
The TSX Venture Index which is made of the Canadian start ups in junior mining and high tech is hitting lows not seen since 2002 and the 2008 Credit Crisis. Neither GDX nor GDXJ track the TSX Venture Index, a Canadian index, but should not diminish the point of Handwerger’s point. That point being that when the TSX Venture Index reaches historical lows, as it recently did, it has a tendency to rally in significant fashion soon after putting in those bottoms.


Time for the juniors?

Edited by Rogerdodger, 13 November 2014 - 11:43 AM.


#3 dharma

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Posted 13 November 2014 - 03:46 PM

what is interesting to me is that guy looks @ the xau and draws conclusions onthe whole sector from looking @the one index well it is true that xau took out its 08 lows , but hui and gdx have not taken out their 08 lows , thus creating a divergence dharma

#4 Rogerdodger

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Posted 14 November 2014 - 12:33 AM

Jim Wyckoff
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#5 Rogerdodger

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Posted 14 November 2014 - 12:54 AM

Here's why gold could be headed to $800: Insana

#6 dougie

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Posted 14 November 2014 - 01:19 AM

he is well named

Here's why gold could be headed to $800: Insana



#7 stubaby

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Posted 14 November 2014 - 09:13 AM

he is well named

Here's why gold could be headed to $800: Insana



:D
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#8 Russ

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Posted 14 November 2014 - 04:57 PM

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Good one.... gold up $23.
"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong



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