A longer term chart to provide current context after this past week's sever technical breakdown.
BTW...the XAU is now down 23% from its highs on July 6th...technically a classic crash.
Fib
Posted 19 August 2018 - 03:35 PM
A longer term chart to provide current context after this past week's sever technical breakdown.
BTW...the XAU is now down 23% from its highs on July 6th...technically a classic crash.
Fib
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Posted 20 August 2018 - 03:34 PM
thanks for your update, where do you see the price of gold headed now?
Posted 20 August 2018 - 05:42 PM
thanks for your update, where do you see the price of gold headed now?
A challenge of the late December 2015 lows is now the likely downside price objective for both gold and silver..
Any break below the A/D line channel, however, would allow prices the ability to test the December 2008 lows.
For now, we bounce off the lower end of the trend channel while gold snaps back to or toward the $1210 area...the eventual retest will be the key.
Also keep an eye on interest rates...lower rates support the metals, higher rates are their sworn enemy.
Fib
Better to ignore me than abhor me.
“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw
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Posted 21 August 2018 - 03:57 PM
looking like a bull flag at this point that is getting ready to pop-up, what rogerdodger posted about negative sentiment being at near record highs in important...
Edited by Russ, 21 August 2018 - 03:58 PM.
Posted 22 August 2018 - 05:15 AM
Stewart Thomson's chart of Gold showing Massive Head and Shoulders pattern
http://www.graceland...8aug21gold1.png
Posted 22 August 2018 - 11:51 AM
Forgetting the sloppiness of the pattern, but Is the volume component consistent to an inverted head and shoulders pattern?
Fib
Better to ignore me than abhor me.
“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw
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Posted 22 August 2018 - 01:18 PM
Taking off the last of the bear-market-bounce play in NUGT, up9.9%, JNUG up 10.7%.
GOLD STOCKS - There's always a bear market somewhere
Edited by diogenes227, 22 August 2018 - 01:19 PM.
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Posted 23 August 2018 - 01:52 AM
Forgetting the sloppiness of the pattern, but Is the volume component consistent to an inverted head and shoulders pattern?
Fib
nope. the volume on the right shoulder decline was too high IMO
Posted 23 August 2018 - 08:43 AM
..also ..i have read that the longer the time frame the less probability that any pattern like H&S works..
i would guess the trendlines should work though..
donc
Posted 23 August 2018 - 09:48 AM
Forgetting the sloppiness of the pattern, but Is the volume component consistent to an inverted head and shoulders pattern?
Fib
nope. the volume on the right shoulder decline was too high IMO
Gold star.
Fib
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“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw
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