Member
Posted 08 November 2017 - 12:46 PM
near term IMO both GDX and HUI worst case may have ended an hourly five up at today's highs from the Nov 3 low at GDX 22.22, so a pullback to prev 4th wave support at 22.60-22.75 would not surprise me, more bullish count is we just continue higher
BSing away
Senor
Member
Posted 08 November 2017 - 01:57 PM
Using Dec 17 Gold futures, the daily cycle is making a top tomorrow,
the weekly is still in an uptrend, however the monthly and quarterly are in a down trend,
so I expect Gold to head lower for the next few days until the daily cycle will bottom.
Support should be 1266, but I don't expect it to go that low.
For now the line in the sand is bullish above 1288 to 1289, bearish below.
not trading advice, gis
Member
Posted 08 November 2017 - 03:07 PM
Gismeu, with your monthly and quarterly pointing down, does that make you bearish into the end of the year?
Member
Posted 08 November 2017 - 03:16 PM
rgld has finished correcting imo and is heading significantly higher over time
Member
Posted 08 November 2017 - 03:39 PM
Gismeu, with your monthly and quarterly pointing down, does that make you bearish into the end of the year?
That is a very good question Smithy,
I forgot to mention that the yearly cycle is in an uptrend.
Right now my trading is acc. to the daily and weekly cycles (both need to be in an uptrend to put on a bullish position),
but taking the monthly price levels into consideration,
thus bullish above 1288, bearish below with 1266 being support right now.
Hope that helps, gis
P.S. In EW terms, I would not expect a wave 3 up right now
Edited by gismeu, 08 November 2017 - 03:40 PM.
Member
Posted 08 November 2017 - 10:14 PM
i have mentioned this, in the 76-80 bull move in gold , oil and gold moved together like a hand to a glove. in fact the whole commodity sector went into a very aggressive move of price discovery. i expect that crude oil will again be lending support to gold in spite of all the gold gurus huddled in a corner. gold is about to wake up very soon as is crude oil . the largest producer in the world saudi arabia, is about to come into some turmoil. senors move of buying oil stocks is quite prescient i bought spwr in size when it dipped to 7 and below. i want to support clean renewable energy it is the future.
dharma
Member
Posted 09 November 2017 - 10:51 AM
a bit off topic but an hourly chart of the Dow/S&P imo would suggest that either an abc corrective decline completed at this morning's low or if we take out that low a wave iii of 3 of either a larger 3 or C is underway, interesting juncture there
Senor
Member
Posted 09 November 2017 - 12:33 PM
Good call on SPX Senor
Member
Posted 09 November 2017 - 12:39 PM
i mentioned this one awhile back , today bob moriarity talks about it. its amazing to me how undervalued some of these stocks are
http://www.321gold.c...arty110917.html
dharma
did anyone sign up for the gann guys webinar tomorrow?
all the gold gurus are looking for an upcoming low, what if that doesnt happen
it seems to me things are heating up in the middle east saudi arabia vs iran
Edited by dharma, 09 November 2017 - 12:41 PM.
