fwiw i would not be surprised if we start a two week correction into the eclipse
Posted 13 August 2017 - 01:20 PM
that chart is not drawn accurately, it does not matter if log or arithmetic setting is used, gold is breaking above the down-trendline using fixed point drawing from 2011.
"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
Posted 13 August 2017 - 06:52 PM
I would need more time to be more specific, so all I can say right now is bullish above 1296 and bearish below, using Dec contract.
Since this week is the 'on time week' for a top in the weekly time frame, we could see 1306 and then 1315, but I a not confident
this might happen. My sense is more for a few weeks of moving around between 1295 and 1255.
Posted 14 August 2017 - 09:11 AM
Posted 14 August 2017 - 10:05 AM
according to gann years that end in 7 have big corrections. if you go back and take a look that is the case. august is the set up and the action occurs in sept/oct. so i feel this nkorea threat is the warning shot across the bow stocks up today and gold down. i am on the buy , but i will wait a bit to see if they can get this down to the 1250 range. gdx had a weekly close above 23 giving an indication of higher prices to come. the meat of the move is ahead. i can make guess' what the catalyst will be , but that is just that guess' i do feel we are going higher and possibly alot higher.
as i have said, i believe the majors ran their high grade from 13-15 and since have been running low grade that they are left w/ . they need to buy and like all the feeding frenzys of the past. they will of course i dont know when, but i feel it is soon. they have cut alot of fat and are much more streamlined. so my focus is the explorers. it is much less expensive to let the explorers do the permitting and feasibility studies and then get their geologists involved to access the property. higher gold prices will give them the confidence to take those steps i am focused on 1/2 dozen a few of which i am still topping off. these companies are selling for gold around 100 an oz. of course then there is building the mine, mill, etc.