Member
Posted 21 May 2018 - 09:06 AM
I'm with you Senor, but don't have a clear count for gold this last week. Hourly momentum divergence is encouraging. K-wave nailed it - bullish above 1285.
the 1-12 hour bullish divergences in gold suggest to me we should be about done, this looks like classic 5th wave action, we never know but IMO the set up is there, dollar index IMO has the same bearish divergences suggesting a top, we'll see
Senor
Member
Posted 21 May 2018 - 09:08 AM
Yes, Senor. Lots of tension being felt here with an eye to $1425 gold once this breaks loose. Thank you for your always thoughtful posting.
Looks like "the boyz" tried to hit the big guys like Gold, NEM, and AEM to bring the sector down, lets see if AEM and NEM and gold itself can now reverse sharply higher?
Senor
Member
Posted 21 May 2018 - 09:22 AM
bears pressing. meanwhile commercials , as of last tuesday, seem to be trending to less short exposure. so above fridays highs , and i will view this am action as a trap.
2 interesting charts https://kingworldnew...art-of-the-day/
kirkland lake bought 4million shares of novo it is eric sprotts company.
dharma
on the other hand the consolidation over the last several days could be a bear flag 1277 support
Edited by dharma, 21 May 2018 - 09:23 AM.
Member
Posted 21 May 2018 - 09:23 AM
From Sid Norrise website
Per sentiment index readings from Sid (the service he uses), here are the current sentiment for a few items: (0-100, 0=most hated, 100=most loved). These are daily readings as of Friday
Gold: 18
Silver: 15
Platinum: 10
Sugar: 20
USD: 88
Single digit readings are very extreme and don't happen very often.
If gold keeps selling off, it would only take 2-3 days to get to single digits.
Member
Posted 21 May 2018 - 09:59 AM
i just want to point out , that seasonally it is not a time where indian buyers are aggressive, BUT also the rise in the dollar/rupee has caused the price of gold to rival the 2012 high(which is when the highs occurred vs rupees. =gold is expensive in rupees. very expensive. this is a key to golds weakness.
yes the rupee gold chart is different than the dollar gold chart. gold did not have the big swoon that the dollar/gold chart has
dharma
on the kitco bug you can look @ gold in many currencies including the rupee
Edited by dharma, 21 May 2018 - 10:00 AM.
Member
Posted 21 May 2018 - 10:39 AM
Looks like a critical day "perhaps" regarding gold/dollar/Stock mkt and potential key reversals, oh and BTW the often ignored CRB rises above 205 for another new intermediate term rally high - just think what happens when the Metals (Gold/silver/Plat) join the party, and da beat goes on
Senor
Member
Posted 21 May 2018 - 12:05 PM
Platinum with decent looking long tailed reversal candle off possible double divergent 3 drive bottom..
Let's see if it can reclaim 900 today...
.
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
Member
Posted 21 May 2018 - 12:06 PM
GOLD/SIlver wound up tight...about to join Platinum???
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
Member
Posted 21 May 2018 - 12:11 PM
GOLD/SIlver wound up tight...about to join Platinum???
methinks 
we see
Senor
