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The unfolding upmove in gold

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#21 Smithy

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Posted 01 November 2018 - 11:48 AM

If the target of 1265 is transcended, next is 1295.



#22 tradesurfer

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Posted 01 November 2018 - 10:00 PM

Was a bit surprised that Jordan from the dailygold dot com just recommended to buy DUST and then add to DUST position.

 

why go short gold here ?

 

Silver has a 2 year double bottom and is rallying off of it.  Stock market has peaked and maybe about to crash.

 

GDX also has a 2 year double bottom, a 2B buy signal at the double bottom, and inverse head and shoulder pattern at the right bottom and then a retest of the neckline and now a rally......

 

seems like miners could skyrocket here



#23 Russ

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Posted 02 November 2018 - 10:38 AM

Was a bit surprised that Jordan from the dailygold dot com just recommended to buy DUST and then add to DUST position.

 

why go short gold here ?

 

Silver has a 2 year double bottom and is rallying off of it.  Stock market has peaked and maybe about to crash.

 

GDX also has a 2 year double bottom, a 2B buy signal at the double bottom, and inverse head and shoulder pattern at the right bottom and then a retest of the neckline and now a rally......

 

seems like miners could skyrocket here

silver has trends on it for high in 2020, sure looks like it's going to move up soon to me. 


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#24 Smithy

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Posted 05 November 2018 - 01:08 PM

As of Monday morning Nov 5th, the bullish picture is muddied by the length of the correction so far, and gold could take advantage of present cycle weakness (into early next week) to pick up her skirts and run south. This would be distinctly bearish. As Senor remarked, it is a critical time for those of the bullish persuasion.

 

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Remember Guy Fawkes who on this day many years ago attempted to blow up the seat of power with kegs of gunpowder. 



#25 Smithy

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Posted 09 November 2018 - 08:21 AM

Looks like this is correctly calling the direction, as Fib pointed out.

 

11-9-18-XAP.jpg
 



#26 Smithy

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Posted 09 November 2018 - 04:48 PM

Today Friday GSR closing at 25 year extremes.  85.4 oz of silver for an ounce of gold.


Edited by Smithy, 09 November 2018 - 04:49 PM.


#27 Smithy

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Posted 10 November 2018 - 10:51 AM

Saturday 11/10

The bullish case for gold hangs by a slender thread. For example, SILJ is diverging upwards against lower lows for silver.

The cycle lows are about now, and need to turn up no later than Mon or Tues to sustain the bullish case.

 

The bears can point to a 3 wave rally in gold from the Aug 15th low, and the XAU h&s top, as well as gold ADV-DEC plunging.

 

My view is if XAU closes below its neckline of 63.8 then gold goes down into Dec. It's make or break.


Edited by Smithy, 10 November 2018 - 10:52 AM.


#28 Smithy

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Posted 13 November 2018 - 11:19 AM

"  ... need to turn up no later than Mon or Tues to sustain the bullish case. " 

(see above)

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The overnight low of spot 1196.3 is the line in the sand for any last ditch stand by the bulls.

Below that we're in for a $50+ drop (wave count, $GDXADP plunging, XAU h&s top completed).

Currently flat in trading acct.



#29 Smithy

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Posted 13 November 2018 - 05:51 PM

There remains the possibility that the cycle low I've talked about for a week and came in last night at spot 1196.3 comes good.

The bulls would be helped by an upside break from this triangle.

 

11-13-18-30-min-gold.jpg
 



#30 CLK

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Posted 14 November 2018 - 05:38 AM

The title of this thread should read: The unfolding down move in gold.   

 

 

See you at 400.

 

 







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