25 replies to this topic

[dougie]

Silver counts out a really clear 5 waves from lows
So is this Finally wave 2 ?
And will it surprise by its depth or shallowness?

[SemiBizz]

 

I'm never swayed by price alone... I had an upside target for today of 1307, I guess we can still test it, but 1305.92 might be enough...  I'm looking for a sharp pullback now.  We're up 70 bucks from where everybody got bearish early last week, it's time for a pullback now that they are all bulled up again...

 

 

1270s.. somewhere in there should get tradeable bounce.

 

 

So spot hit 1275 overnight... and now we have STRONG HOURLY VOLUME THRUST OFF THE LOW to 1289.  Should have a little more upside in any case...

[tria]

As far as I am concerned Gold may spend the next 8 trading days between 1,270 and just above 1,300.

It is after the middle of this month that further strength may/should be exhibited and especially in very

early June.

This is my view today.

Edited by tria, 04 May 2016 - 08:59 AM.

[SemiBizz]

If 1270 breaks now... that's going to set up a test of 1251.

 

I smell lack of liquidity issues in the market.

 

Price discovery exercise is on it's way.

[tria]

Thank you Semmi for providing us with reliable and potential targets.

 

I am starting to get out of my Dust at cost.

[tria]

From DUST to zero, that is a zero USD loss.

Bad entry was the reason for the zero profit, out of all DUST now.

[dougie]

Good stick save

[tria]

The cartel has sold 47,000 contracts X 100 oz of gold from last Friday to Monday and probaly

more on Tuesday.

This equates to 4,700,000 oz of gold or more than 133 tons of gold - in two days.

Valued at USD 1,300 = 6,1 Billion USD 

No further comment as to whose money is it or what is the sense of any technical analysis.

Until Madame Lagarde tells them or the market forces them to stop it they will not.  

Until Gold's futures OI decreases during this correction patience is required.

Best

 

.

[relax]

So sell 1290-1300 or any move up after the job report (maybe into monday), especially if the cartel you talk about can be spotted in the market ;-)

 

as always the job report will probably give wide swings in both directions and end up in the same place at some point ;-)

[Russ]

The key to Gold is what the Euro is going to do, it has had a test of resistance from where it broke support happening but when it starts to fall again that will drive money back into the US dollar which will drive Gold back down. The Euro should run out of steam by early to mid July.