Member
Posted 18 July 2018 - 11:07 AM
while this bottoming process is occurring this hadik interview from 5/30/18 is pertinent to the present .
watching the dollar /yuan makes alot of sense. just watching miners continue to be stronger than the metal. that high volume on nugt yesterday , a huge slug of gold stock was bought yesterday
dharma
Member
Posted 18 July 2018 - 12:43 PM
BGEIX is in the process of making a third 50 day MA going under the 200 day MA (death cross). Nov 2017/Mar 2018 and now. Last time this happened, Oct 2006/Aug 2007/June 2008 when the fund was going basically sideways. It didn't end well, then.
Member
Posted 18 July 2018 - 02:39 PM
Yen looks like it's getting ready to move back up, nice bull flag on the chart.... while this bottoming process is occurring this hadik interview from 5/30/18 is pertinent to the present .
watching the dollar /yuan makes alot of sense. just watching miners continue to be stronger than the metal. that high volume on nugt yesterday , a huge slug of gold stock was bought yesterday
dharma
Edited by Russ, 18 July 2018 - 02:44 PM.
Volume Dynamics Specialist
Posted 19 July 2018 - 07:31 AM
2 things working here... first of all you can see the low was broken on HOURLY VOLUME, that is on the above chart and in the local context...
The Previous Low was made in the middle of the night on 7/2... and that was on no volume at all...
It hit the support on lighter volume and exploded higher when the volume came in the regular session...
That was an ENGINEERED LOW...
This one here BROKE that BENCHMARK ON BLOWOUT VOLUME...
This is engineered to fail.
And this last low at our target this morning came when? 3 am.
Time for a bounce, but if it fails and we get a new low this morning that will be a BREAK ON VOLUME...
So might be wise to have a stop under this low we made this morning at 1220.9.
Otherwise, it looks to be an ENGINEERED LOW...
Woops... that bottom didn't last long... BROKEN ON VOLUME...
We're looking for 1207 next support here.
Member
Posted 19 July 2018 - 07:58 AM
My posted target of 1210 has been hit.
It is possible the big A-B-C spanning 2 years is complete but I'm not betting my shirt on it.
I don't have other bullish corroborative data to support a bottom here and now, although the miners pulling upwards, the low DSI, the extreme oversold, etc all support the idea of a rally.
Edited by Smithy, 19 July 2018 - 08:03 AM.
Member
Posted 19 July 2018 - 08:03 AM
Since gold is already measured in $US, isn't it somewhat redundant dividing it by the $US? It should only act as an amplifier, although DXY compares to other currencies, which I can see will have some effect. That pattern from mid-2017 is looking like a butterfly.
Member
Posted 19 July 2018 - 08:15 AM
The above chart is the non US dollar price of gold i.e. expressed in all the currencies that make up the dollar index.
As and when gold bottoms I expect it to explode out of the low.
Member
Posted 19 July 2018 - 08:26 AM
This could be the Heavy Bomber day on GDX....going to open well below the recent big swing lows.
Let's see how it it acts after the open....if this turns into a breakaway down down day, LOB....
A weekly close under 21 could be disastrous.
AGAIN...below 22 is extreme danger zone.
You could get lucky and catch a bottom, but more likely, all you are going to do is get a bunch of knife cuts....
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
Member
Posted 19 July 2018 - 10:00 AM
dsi fell 6 to 9(below 10 again)
hgnsi =-6.52%
sentiment at extremes we are racing to a low-bottom where it lies is a guess. my gannwork shows 1198 as a death zone for this decline. i have to think they will see what stops lie below the round # gld, gdx, gdxj,, slv all have hourly divergences. i am going to let someone else catch the falling knives. i am watching intently.
dharma
the gold market is traded fair and square https://www.law360.c...poofing-charges
novo resources
ceo hennigh was head geologist at newmont . he has knowledge and experience. either he is a great salesman or they have a large strike
https://soundcloud.com/novo-resources/ke-report-novo-signs-agreement-with-ngarluma i have accumulated a large position. which i intend on holding, i only buy when its behind the woodshed
https://soundcloud.c...t-with-ngarluma
believe it or not , this decline will end at some point. i am waiting for a 5 wave advance and then a correction to that to build a big position. there are mountains of debt and considerable problems that are not going to disappear
