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Gold's "Death Cross" is upon us


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#1 Rogerdodger

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Posted 23 June 2018 - 08:55 AM

FWIW: 

A Death Cross Forming on Daily Gold Charts

KITCO:

On a technical basis, one of the more foreboding indicators is a real high probability that the short-term 50 day moving average will cross below the longer-term 200-day moving average, which is commonly referred to as a death cross.

Most technical analysts use the 200-day moving average as a gauge of a long-term trend, and the 50-day moving average as a gauge of the short-term trend. Any stock or commodity which is trending higher will result in the shorter-term moving average above the longer-term moving average. Therefore, a death cross can signal when a short-term decline has moved into a longer-term decline or downtrend.

 

 

With that said, the Cross comes with an oversold condition.

I could see a rally attempt back to the congested area around $1290ish, with the RSI moving back up to 50ish.

 


Edited by Rogerdodger, 23 June 2018 - 09:11 AM.


#2 dougie

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Posted 23 June 2018 - 04:12 PM

As i said, ugly



#3 dougie

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Posted 23 June 2018 - 04:22 PM

against the ODDS BUT 2001 we had a death cross and then the start of the BIG BULL



#4 robo

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Posted 24 June 2018 - 09:16 AM

We currently have "above average odds" that gold will move back up to around 1300ish next week. That's my trade for now. After that we shall see!

 

All my indicators support the move so I trade my system.

 



#5 robo

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Posted 24 June 2018 - 09:26 AM

The daily indicators - The data is improving on different systems. Cycles, Sentiment, EW, and a few other indicators I use. Cash or long is how one should currently be positioned in my opinion. Sure, gold can still go down, but the odds for a move back to 1300ish  are very high now. 

 

https://seekingalpha...lly-bottom-gold

 

https://seekingalpha...eaks-gold?app=1

 

https://twitter.com/...remium-reports/

 

https://likesmoneycy...esmoneystudies/

 

https://blog.smartmo...kerpremium.com/

 

 

 


Edited by robo, 24 June 2018 - 09:30 AM.


#6 robo

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Posted 24 June 2018 - 09:31 AM

The SKI system should be getting close to confirming my other MT trading  indicators.  However, I can't say for sure since I'm not a sub, but I do find the system very interesting to watch and track.

 

http://www.321gold.c...rn/current.html

 

https://www.mcoscill...d_silver_ratio/

 


Edited by robo, 24 June 2018 - 09:37 AM.


#7 robo

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Posted 24 June 2018 - 09:38 AM

Good trading to Bulls and Bears next week. I trade both ways in this sector...

 



#8 robo

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Posted 24 June 2018 - 09:45 AM

Stocks...  Where is the BEEF!  Whipsaw city for traders that like to use tight stops one would think. Bouncing above and below  the 9/20 MAs lately... The move down could easily been seen on my tracking the herd data chart as the Small trader call buying/ROBO data was hitting an extreme level...  Waiting for the next setup again. We shall see what the BBBs do next and we all wait on the next market moving tweet from the White House for a ST trade.

 


Edited by robo, 24 June 2018 - 09:54 AM.


#9 robo

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Posted 25 June 2018 - 09:02 AM

Long USLV @ $9.56

 

http://stockcharts.c...126&a=602745550

 



#10 Rogerdodger

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Posted 15 July 2018 - 10:15 AM

61XmhkEykvL._AC_US218_.jpg

 

 

Rogerdodger June 23rd:

With that said, the Cross comes with an oversold condition.

I could see a rally attempt back to the congested area around $1290ish, with the RSI moving back up to 50ish.

 

Man was that way too optimistic! 1274ish was all it could muster, with the RSI falling to extreme lows before bouncing back up to near 40.  RSI is showing a positive divergence and a double bottom around 1237ish.

 

For the past 2 weeks the KITCO poll sentiment was extreme (Bi-Polar) in both directions... and wrong:

Being extremely bearish and only 20% Bullish on June 29, Gold put in a low and closed the week up $1

Then Bi-Polar set in and on July 6: The 69% bullish bulls snorted... and lost $15 on the week.

Now they have jumped back to being bears at a mere 21% bullish!!

 

So this week's bearishness, along with the positive RSI divergence, might set up some more Bi-Polar Bear action!

June 29: 20% Bullish

July 6:   69% Bullish

July 13: 21% Bullish

 


Edited by Rogerdodger, 15 July 2018 - 10:17 AM.