678 replies to this topic

[senorBS]

it seems that the strength of the USD is a legitimate threat to a rising gold price.

 

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Very nice call on gold 1234 - "might" have ended correction Friday from 1250 at that area. Also as I mentioned in the other thread I think DXY is in an ending diag tri wave basis "daily charts - looks like 8th or 9th inning to me. Classic miner Dec action after a down yr with tax selling and such, getting closer IMO

 

Senor

[Smithy]

Thanks for the kind words Senor.

 

This wave count would permit a drop into the end of the year. Seems less likely to me, but I have to hold the possibility open.

 

Also, it is relatively common for the opening days of January to be the low of the year (true for 2016, 2017 and 1st 6 mo of 2018) and I'm gunning for that.

 

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Edited by Smithy, 15 December 2018 - 11:36 AM.

[Smithy]

[Smithy]

[Smithy]

The bullish fundamentals for platinum are iffy unless investment demand (e.g. hedgies) get enthusiastic. I'd like to see it rise faster than gold. Until then I remain cautious.

 

 

[Smithy]

[Smithy]

Thursday morning 1:30 pm EST, spot gold hit the first target of 1265.

Next 1285-95; the first little parabolic runup of the nascient bull.

Trailing close stops. On a wing and a prayer.

 

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Errata - the "4?" on the crude chart should read "3?"

[stubaby]

Thursday morning 1:30 pm EST, spot gold hit the first target of 1265.

Next 1285-95; the first little parabolic runup of the nascient bull.

Trailing close stops. On a wing and a prayer.

 

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Errata - the "4?" on the crude chart should read "3?"

Nice call Smithy and thanks for your charting!

[Smithy]

At the risk of stating the obvious, if spot gold goes much below 1252 the parabola is punctured and a bigger correction is underway. 

 

-- No worries, Stu. I'm hoping your bull count triumphs.

[Smithy]

" At the risk of stating the obvious, if spot gold goes much below 1252 the parabola is punctured and a bigger correction is underway."

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The low of the correction so far was 1253.9 at 1 pm EST Friday.  With today's Sunday opening up and gap 1256-57, the run to 1285-95 remains in play against 1252 that would kill it. (FYI, I'm often wrong at these forecasts, and may be yet again...)

Edited by Smithy, 23 December 2018 - 07:08 PM.