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Posted 16 August 2017 - 10:47 PM
Look at the rsi on your chart, no where's near a bottom. I have projections for the dollar index and the dow to both form big lows in mid Oct and Gold to form a big high then. Longer term it looks like the dollar will keep heading down into 2021.
Dollar certainly looking bottomy and sentiment supports that too. Will gold and dollar rise?
Edited by Russ, 16 August 2017 - 10:47 PM.
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Posted 17 August 2017 - 12:43 AM
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Posted 17 August 2017 - 06:31 AM
Maybe but last 2 lows had rsi near here
that was after rsi had already bottomed under 30, then it peaked above 70 so now momentum is probably going to drive it under 30 again. that's my theory. 
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Posted 17 August 2017 - 09:45 AM
right at key resistance in GDX/GDXJ this mornin, will we finally breakout or see another failure here? key action
Senor
Member
Posted 17 August 2017 - 10:10 AM
well the rumor in the market was rising rates will kill gold, and the market bought that baloney until rates actually started rising. i started in this biz in 78 volcker was relentlessly raising rates and gold rose relentlessly. the fed is raising rates so when the recession hits they have room to lower rates.
gdx volume is disappearing, the pattern on the chart is a coiling pennant pattern we are going to bust out of this thing very soon. we are approaching diwali buying season, and if the turks keep buying like they have been we will have a backdrop of strong physical demand. yes, i am bullish , but i want to see confirmation from the
market, i need to see confirmation. in all of this what has me very concerned is the president is not getting any support for anything. his recourse is to start a war , and as commander in chief he can pretty much do what he wants in a war environment . that is what is very concerning to me. if he opts for that approach and this fat kid keeps mouthing off , he will get more than he bargained for. then you have the master martial artist and chess player observing=putin. and the chinese w/the fat kid on their border. its a scary world right now
w/inin the next six months gold time is coming the debt is looming large and the debate on raising the debt ceiling will be along the lines of which congressmen is getting donations from whom!? as always in the movie played by dicaprio as howard hughes, he said i dont want to pay congressmen i want to own them!
are you prepared!?
dharma
ps the adens managed to be very available in the 70s-80s they remained bullish along w/everyone else at the top . the thing is following anyone can be problematic, no matter how great their research, when its time to be a lone voice no one will listen. your voice will be drown out by the seemingly endless blue skies. we are years away,
Edited by dharma, 17 August 2017 - 10:11 AM.
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Posted 17 August 2017 - 02:58 PM
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Posted 17 August 2017 - 06:55 PM
risk m out of the whole complex gld has the best chart. perhaps if gld makes a significant move from here the
miners will get a play based on future earnings possibilities. best performing have been rgld and fnv the
royalty companies
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Posted 18 August 2017 - 12:00 AM
pne possible scenario here is gld rallies up to the 2016 high at 131
to complet a i of 3. then a pullback of maybe 50 60 bucks before we start
a iii of 3. it is just one possible scenario who knows but i thought i would
put it out there fwiw
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Posted 18 August 2017 - 07:56 AM
and it's off to the races, 1300 resistance breached, October high on track.
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Posted 18 August 2017 - 08:14 AM
and it's off to the races, 1300 resistance breached, October high on track.
when I look at GLD daily chart its hard for me not to count this move as entering iii of 3 from the July 10 low, as always DYODD
Senor
