1565 replies to this topic

[dougie]

Gdx far from oversold on dailies

[senorBS]

I think gold may have just ended v o 5 of C while the DXY ended its v of 5 of C, bot a UGLD trading position at 10.26, as always DYODD

 

BSing away

 

Senor

[senorBS]

Gdx far from oversold on dailies

its more oversold than overbought basis RSI but with its recent relative strength vs Gold itself that is no surprise and expected. Note the daily gold RSI is very close to levels seen at the important bottoms in July and Dec of 2017, no guarantee we bottom here but it is pretty oversold unless we are headed down to Dec 2016 major botom extremes, we see

 

Senor

[jabat]

Cdeleany EW Gold chart

 

[dharma]

I think gold may have just ended v o 5 of C while the DXY ended its v of 5 of C, bot a UGLD trading position at 10.26, as always DYODD

 

BSing away

 

Senor

my thinking exactly , not sure if the lows have been seen yet for gold . yesterday gold made new lows for the move, silver/gdx/gdxj did not=divergences. As far as the DSI (Daily Sentiment Index)... it has fallen to 10% bulls for both Gold & Silver with the US$ at 91% bulls.  we are very close , i want to see oscillator divergences.  on the hourly charts , which can happen any time now. yesterdays move will be included in this weeks cot. last weeks the spec longs were at a level not seen since dec15 when gold bottomed at 1045. lots of good signs here that we are at a major turn.  nibbling

dharma

[senorBS]

 

I think gold may have just ended v o 5 of C while the DXY ended its v of 5 of C, bot a UGLD trading position at 10.26, as always DYODD

 

BSing away

 

Senor

my thinking exactly , not sure if the lows have been seen yet for gold . yesterday gold made new lows for the move, silver/gdx/gdxj did not=divergences. As far as the DSI (Daily Sentiment Index)... it has fallen to 10% bulls for both Gold & Silver with the US$ at 91% bulls.  we are very close , i want to see oscillator divergences.  on the hourly charts , which can happen any time now. yesterdays move will be included in this weeks cot. last weeks the spec longs were at a level not seen since dec15 when gold bottomed at 1045. lots of good signs here that we are at a major turn.  nibbling

dharma

 

Si si. Miners continue to act very well overall, love the DSI falling to those extremes of low bullishness, IMO we got what we need, just need to see a significant reversal to help confirm a key low.

 

Senor

[dougie]

GDX flagging here

[dougie]

Golds failure to respond to Iran Isreal NK tells

[senorBS]

appears we may be getting a "stealth" reversal here today - I like this as it will keep the vast majority bearish or out, love those sentiment numbers Dharma gave for gold and silver and the dollar, and da beat goes on

 

Senor

[dharma]

geopolitical situations in the past have given up any rallies as soon as olive branches or peace prevailed ,i am not a fan of trading off geopolitical situations at this point in the cycle.  later on in 3 or wave 5 it will be different.  i have to think this cot will show the large specs jettisoning more longs. = they will chase . i believe the market is being set up.  weak hands left when 1300 and the 200day ma was lost.  bulls want as few riders as possible.  there are good mining  companies selling at discounted prices. later this will not be possible to find.  not a time for over aggression i  do like what i am seeing . stealth . you have to analyze the sector. not sure we are done on the downside, but i think timewise we are very close.. when the low is in then starts the process of 1-2 1-2 which will keep folks out , and accumulation will be occurring w/weak hands off the deck

dharma