41 replies to this topic

[senorBS]

Looks like a clear post tri thrust down in silver and gold that may have ended at overnight lows, could be a good low and at least back to tri apex if count is correct

 

Senor

[Russ]

as posted on semi's post, i have several charts pointing at august 21 area for an important low around 110 gld or 1175 gold, however there is a larger trend on the gold for perhaps the final low in Oct area which could even be the final washout down in the 875 area - 1980 high test.... 

[senorBS]

Looks like a clear post tri thrust down in silver and gold that may have ended at overnight lows, could be a good low and at least back to tri apex if count is correct

 

Senor

OK, this last leg down to a slight gold failure near 1192 "should be" a potential final wave 4/5 of a thrust down IF that is the correct count. While this is happening GDXJ just now took out the May 1 2017 low for a possible smaller degree wave 2. The key Q is whether the GDXJ/GDX needs to go down below the Dec 2016 lows at 27.37/18.68 like XAU/HUI or maybe they are the one that bottoms at a higher level in a wave 2? at least lows that needed to be taken out have been, whether we bottom soon or go lower still we'll likely know soon

 

Senor

Edited by senorBS, 14 August 2018 - 01:52 PM.

[gannman]

just looking at some stuff here.fwiw sep 8 area is 13 months from the top 

 

in gdx gdxj hui xau. it is an area to look at. wont know till we get there

 

but some things i am seeing are suggesting it might be important

 

right now we are in a wave 3 down i am looking for a wave 4 bounce

 

and then a final low.  this is going to be one hell of a low and very few

 

will believe it 

[CLK]

Gold traders have no clue just how bad this could get, I'm talking 600 area, many will never want to buy gold again.

The monthly is extremely bearish, the volume was high, it's going to unwind 4 years of consolidation in 6 months,

might even test the 300 area.

[Russ]

Gold traders have no clue just how bad this could get, I'm talking 600 area, many will never want to buy gold again.

The monthly is extremely bearish, the volume was high, it's going to unwind 4 years of consolidation in 6 months,

might even test the 300 area.

According to Armstrong it could test the 1980 high of about 875,  there is a building international debt crisis, gold will go up to thousands of dollars once people realize that there is no hope of saving the system from imploding and that all the pension money is gone. Last I heard Armstrong was talking 2019 for gold to start moving up again.

[dharma]

love these conversations
hell gold is nt worth paper its printed on!


gannman, it looks that way to me too. i want to see divergences.
when the financial crises started to unravel in 08/09 gold went down at first
gold went to 850 which is quite near the 80 high then zoomed to 1923
many banks of sovereigns are into turkey. it has been going on for some time
there are quite a few spinning plates, when the time is right it will take shape.
we will see where the dust settles.
dharma

[gannman]

dharma to me we are setting up the buy of a lifetime.  just time to be patient here

 

when it is over for sure no one will want to buy the miners we are having mindless 

 

selling perfectly good companies are being thrown under the bus 

 

as you say we need divergences this is a wave 3

[gannman]

what i am looking at is the 107 area in gld  that was the dec 2016 low  for  the A wave of this selloff

[dharma]

i have no price targets. the sentiment may be the worst ever for gold
todays cot will be very interesting
i see october 10, jupiter(ruler of gold) moves into scorpio. this is favorable for gold
should be a trend change. i agree w/you gannman,fwiw, we bounce here and then come down
to lower lows creating momo divergences. w/the large specs leaning heavily on one side of the
boat. it should be similar to all other major moves to the upside.
these buys here should be juicy, i am waiting though as i want to see divergences in the oscillators.
dharma