nice to see gold rallying , however, nothing has been proven ..........yet. the inverse h&s pattern is important, but it has not been activated yet. it needs to get above the neckline and then come back down to it or even below it by 2-3% . if activated it will be one more arrow pointing to the low being in. if not all bets are off.
india raised tax on gold and now silver imports to 10% and they are talking about putting size limits on purchases. india is and has been the largest gold buyers in the world. i dont take these developments likely. the whole seasonal chart is created by indian demand. these people have been buying and hoarding gold forever. it is practical for them, their rupee has been going down against the dollar since 1947 independence
above 1350 is the 1st resistance. then the round # , then 1435 above that and the bottom is in. its not a time to buy strength. nor is this a market to buy strength. having the inverse h&s pattern trigger would give me alot more confidence as would getting over some of these resistance points.
dharma
seasonal weak time of the year
Started by
dharma
, Jul 26 2013 09:47 AM
320 replies to this topic
#62
dougie
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Posted 14 August 2013 - 01:35 PM
Nice call HOMBRE
will be watching gold 1315 plus or minus a few dollars and NUGT 6.87 for potential levels for a short term correction to bottom
PureBS
Senor
#63
dougie
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Posted 14 August 2013 - 01:38 PM
everyone I know is waiting for one last crush on the miners
Wither the crush is much deeper and longer than most suspect or it doesnt materialize
#64
dharma
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Posted 15 August 2013 - 09:22 AM
nothing is guaranteed . only death. no one has ever gotten out of here alive
gold down, miners and silver up
bullish action
seems lots of folks have the 23-27 period as a turn lets see what it brings.
my big concern as i have stated, is the removal of the largest gold buyers in the world from the equation.
bonds have been unable to rally
the broads have some weight to them. august-oct =the worst time of year for the broad market
dharma
#65
stubaby
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Posted 15 August 2013 - 11:20 AM
nothing is guaranteed . only death. no one has ever gotten out of here alive
#66
dougie
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Posted 15 August 2013 - 12:31 PM
so how will HUI handle this gap area? Form a more complex H$S here?
#67
dougie
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Posted 15 August 2013 - 12:34 PM
cant count the move off June lows as a 5 wave move as 4 would overlap 1
so what is everyones favored count here: This is C up of an ABC corrective with more down to follow on its heels
#68
stubaby
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Posted 15 August 2013 - 01:14 PM
cant count the move off June lows as a 5 wave move as 4 would overlap 1
so what is everyones favored count here: This is C up of an ABC corrective with more down to follow on its heels
dougie:
That's one possible count or it's a B up (much higher targets and longer in duration)
stubaby
#69
dharma
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Posted 15 August 2013 - 02:00 PM
no possibilities for an impulse, only letters to the upside. the thing is the market is fresh out of the hole. how about in the metals this is 5 here that we are in. miners, 3of3 of 1 here. above 1440 and we have something. 1st reistance in the rear view mirror.
i will be pulling some of the table as we rise here. going into my dates.
dharma
looks like england will be joining the party
http://www.telegraph...rest-rates.html
all the tapper talk, may be just that, it would not surprise me in the least if they tapper or dont. if they raise the qe to 100b. the economic activity has its roots in the liquidity provided by qe.
dharma
i will be pulling some of the table as we rise here. going into my dates.
dharma
looks like england will be joining the party
http://www.telegraph...rest-rates.html
all the tapper talk, may be just that, it would not surprise me in the least if they tapper or dont. if they raise the qe to 100b. the economic activity has its roots in the liquidity provided by qe.
dharma
#70
dharma
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Posted 16 August 2013 - 10:45 AM
yesterday, the gold shorts were overrun @their 1st resistance point. happened intraday, which is interesting. there is more time left to this rally. 1400 is the next fortress. i keep reading about the shortage of physical gold. that the fractional reserve gold system is stretched thin, there is not enough physical gold to match the demand. i have no idea about this!? anyone else have any information.
http://kingworldnews..._Game_Over.html
the miners are still very cheap
silver leading
dharma
http://kingworldnews..._Game_Over.html
the miners are still very cheap
silver leading
dharma
