84 replies to this topic

[dharma]

on the pboc web site they are publishing the amount of gold china is buying every month. its not some guru imagining their buys, but their cb openly disclosing their purchases. the shanghai exchange is going to come out w/a gold fix price daily. imo this will provide more balance to the london and ny fix
the balance of power is shifting in the middle east , w/iran moving up the ladder. of course when the shah built an outsized military, he was replaced. sanctions have been placed on iran for the last 30 or so years
the chinese bank came out w/this paper on a new reserve currency, i posted it in june http://gracelandupda...015jul3yao1.pdf
dharma

[dharma]

oscillators are high. gold formed a pennant it broke out of it to the upside , giving a 1250 projection gann i do a gann technique called cycles of the low the low was 1072 midway between 1065/1079 since that time. we rallied to 1183ish so we are working s/r points 1168 is the midpoint for the price cycle along w/1153 holding 1168 is a sign of strength the apex of the pennant is 1130 so we could pull back to there as well @ present the market has been falling in a wedge pattern. this all takes time, but the continuation of the infrastructure buildout , pboc buying gold every month, having a daily gold fix, buying refineries this is all part of the love trade its all happening. in the 4 phase model we are in phase 1 building a big base supports a big move dharma

[johngeorge]

oscillators are high.
gold formed a pennant it broke out of it to the upside , giving a 1250 projection
gann
i do a gann technique called cycles of the low
the low was 1072 midway between 1065/1079 since that time. we rallied to 1183ish so we are working s/r points
1168 is the midpoint for the price cycle along w/1153 holding 1168 is a sign of strength
the apex of the pennant is 1130 so we could pull back to there as well
@ present the market has been falling in a wedge pattern.
this all takes time, but the continuation of the infrastructure buildout , pboc buying gold every month, having a daily gold fix, buying refineries this is all part of the love trade its all happening.
in the 4 phase model we are in phase 1 building a big base supports a big move
dharma

dharma

My take from this is technicals and fundamentals are both lining up, ie., ducks in a row. 1250 for gold could provide a very substantial run up in miners.

Thanks for this thread.

[johngeorge]

PM Narendra Modi to launch 'India gold coin' bearing Ashok Chakra, other schemes on November 5

[dharma]

the Bank of China now having a seat at the LBMA for gold, the China Construction Bank now joins the LBMA for silver.
will these banks become banksters? or will they report to the pboc what they see?
ambani buys out gs india thus removing the vampire squid from india
the russian vb bought another 30tons of gold in september
the top ten holders of gold http://gracelandupda...2015oct21r1.png
i am skeptical of the western cbs having what they claim to have. its a matter of time before india joins china/russia on an offical govt buy program for gold
the falling wedge pattern has morphed into a bull flag pattern i am watching the support points i mendioned yesterday
1168,1153 and 1130 apex of the triangle.
on a daily the market remains overbought. not on a weekly or monthly.
i have one foot in the bull camp. the other is waiting to land. many juniors are up 50% that can also disappear in a heart beat
seasonally we are in the strong demand season.
the change to a bull market era will not be dominated by the banksters
dharma
by the way, if you look @ a bar chart w/history of the cots. the commercials are no where near as short as they have been

Edited by dharma, 21 October 2015 - 10:10 AM.

[dharma]

gann guy http://www.ganngloba...fb5dac3f2aae173
sentiment
HGNSI was unchanged yesterday at 26.7%
MarketVane’s Bullish Consensus fell a point today to 41%
DSI fell 5 points to 35%.
stochs crossed from overbought. either we flatline or we correct. @this point in the move , in the past
when we went over the 200dma the market in the pasta has done .382 corrections. i am looking for
a similar thing here. initial moves off bottoms have produced larger advances than we have seen.
if its only a bounce, the market will reveal itself soon
the ecb meets today, we will see if they continue qe or what their monetary policy will be
dharma

[dharma]

if one goes back and looks @ past times when gold crossed the 200dma, corrections were .382 which is where we are testing now =1160 the fed meets the 28th the price has been held in check going into past fed meetings gs came out w/a bearish pronouncement on gold. i am not sure this is a bad thing . in other areas their bearish calls have gone the other way. miners lead and in spite of the gold price languishing the miners are firm. to my eyes they are under accumulation. of course the safest strategy is wait for a 5 up and buy the deep wave 2 correction. which is my strategy as well. except for a couple of miners that have been beaten to moose pasture dharma

[dharma]

next week going into the fed i expect more correction
the cots http://news.goldseek.../1445628641.php
seem to substantiate that view
the commercials added a whooping short position
while the large specs-the bait -added a substantial long position
although the miners are performing well, i look for the metal to correct
dharma

[dharma]

i read a quote from volker , where he said a mistake he made was , he should have controlled the price of gold more the dollar strength and the euro seems to have topped. fed meeting. commercials adding big shorts lets see if the shorts can mount a big attack and then there is the old saying-bulls climb a wall of worry dharma

[johngeorge]

From Jack Chan Sat, Oct 24, 2015



Folks, the picture is clear: gold is at another top unless the bear market is over.



And when will the bear market be over? When the lower highs and lower lows are replaced with higher highs and higher lows, and speculation to increase substantially at both intermediate tops and bottoms.