Member
Posted 20 July 2018 - 12:51 PM
Also had not looked at weekly gold whose RSI is nearing or at both Dec 2015 and Dec 2016 oversold levels where bueno bottoms were made, and add yesterdays daily bullish RSI divergence (looks muy bueno) from early July and 7% DSI and all I can say is got gold/miners? No guarantees except death/taxes and as always DYODD
Senor
Member
Posted 20 July 2018 - 02:33 PM
The dollar index has been trying to get above the 95 area since last Oct. and is now caving in again, maybe it will get over that resistance eventually, just not now.
too early for me to come to conclusions. however , trump on the news saying he doesnt want high usa interest rates. dollar looks to have put in a h&s top. miners continue to show strength vs the metal dsi =7 hgnsi=-8.7% sentiment continues to be encouraging. however, the dollar continues to be strong against the indian rupee. so indians are not in the gold market in a significant way. gold is still expensive for them. w/the yuan taking it on the chin it might be the same type of situation in china. i did buy back an ng position this am, not investment advice due your own dd.
dharma
Member
Posted 20 July 2018 - 02:44 PM
now this cot to my eyes is significant http://news.goldseek.../1532114843.phpopen interest has been expanding indicating and confirmed w/this cot that the bait the large specs have been shorting this thing in a big way. and the commercials went long a significant # of contracts. this has improved the bulls case in silver the large specs are moving towards balanced while the commercials cut shorts and added longs. and the commercials have a significant short dollar position
yes, the rsi readings on the weekly charts of gold are down in areas where bottoms have occurred . significant bottoms. i like the action here. not going to front run the market . let a 5 wave advance play out. then wait for wave 2
dharma
Member
Posted 20 July 2018 - 03:54 PM
NUGT biggest weekly volume in 5 years....
Member
Posted 21 July 2018 - 01:07 PM
COT review
Gold futures OI jumped 5% this week, money moving into gold and out of stocks/bonds.
Comms have the lowest % bears since Dec 2015 bottom, this is consistent with a low but it can always get more extreme.
In other words, the more dry powder they have to short gold, the more bullish it is.
Silver OI remains consistent with the possibility of a very big short squeeze at some time in the future.
Comments welcome.
Volume Dynamics Specialist
Posted 21 July 2018 - 03:01 PM
Open Interest went UP
Price went DOWN
Bears in Control
Member
Posted 23 July 2018 - 07:25 AM
Senor, you agree with a big ABC count for spot gold? A = 1123 on 12/15/16 then B = 1366 on 1/24/18 and, God willing, C last Thursday.
Member
Posted 23 July 2018 - 10:45 AM
lots of stuff indicating bottom the commercials , as of last tuesday, added a very significant #of longs. i need to see a 5 wave advance , then we can be more sure of a turn. after that 5 wave advance becomes significant to determine the trend. right now there are alot of factors creating evidence of a low.
nothing conclusive
dharma
i found this interesting
https://katusaresear...ocks-right-now/
Member
Posted 23 July 2018 - 11:20 AM
Senor, you agree with a big ABC count for spot gold? A = 1123 on 12/15/16 then B = 1366 on 1/24/18 and, God willing, C last Thursday.
not really, count is not easy or clear - my best guess is a leading diag tri from Dec 2016 for wave 1 up, and if bullish we are now ending wave 2, we see
Senor
Member
Posted 23 July 2018 - 01:39 PM
lots of stuff indicating bottom the commercials , as of last tuesday, added a very significant #of longs. i need to see a 5 wave advance , then we can be more sure of a turn. after that 5 wave advance becomes significant to determine the trend. right now there are alot of factors creating evidence of a low.
nothing conclusive
dharma
i found this interesting
Dharma, nice move up in Novo today after it barely took out the late May spike low, that may have been downside pattern completion, I did add to my initial position on the decline below 3 last week.
Senor
