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The unfolding upmove in gold

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#311 dougie

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Posted 24 July 2019 - 03:19 PM

gdx looks like it wants a 5 up here of 1 of 3



#312 dougie

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Posted 24 July 2019 - 03:44 PM

is the dollar rolling over LT?



#313 Smithy

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Posted 27 July 2019 - 02:59 PM

Twiggy - Sat 7/27 Gold: The rally continues

https://thepatientin...ally-continues/



#314 tradesurfer

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Posted 28 July 2019 - 02:25 PM

Long term yes, but intermediate term is what has consistently bothered ,me with regard to effect on the metals.    The dollar should surge above 100 as the euro and british pound totally collapse as broader europe goes down the rabbit hole.

 

This all makes me think we churn sideways in metals  for rest of this year.

 

Gold has a monthl DOJI bar which can either be a continuation or a reversal signal.

 

obviously we do NOT want to see gold break under 1360 again !!!!!! major long term support now

 

 

is the dollar rolling over LT?



#315 tradesurfer

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Posted 28 July 2019 - 02:54 PM

According to Chris Vermuelen, the market will collapse starting Mid August

 

https://www.thetechn...is-scary-close/

 

 

OT but doesnt SPX look mighty bullish and if so, would that not take the wind out of the gold sails?



#316 dougie

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Posted 28 July 2019 - 08:13 PM

 

According to Chris Vermuelen, the market will collapse starting Mid August

 

https://www.thetechn...is-scary-close/

 

 

OT but doesnt SPX look mighty bullish and if so, would that not take the wind out of the gold sails?

 

the miners sold off from a raging bull in that example. hardly the case here. Not saying it cant happen. Big sell offs often take everything with them



#317 Smithy

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Posted 29 July 2019 - 11:29 AM

Best performer this morning is plat, and worst is AUDUSD.

Looks like gold holding its breath for Weds FOMC. That event will separate the bulls from the bears.



#318 dougie

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Posted 30 July 2019 - 01:57 AM

interesting futures action tonight



#319 hhh

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Posted 30 July 2019 - 08:58 AM

Gold futures have tested from below the TL from the last bear flag within the excruciating triangle since June 24. I expect another drop before it resolving up.



#320 Smithy

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Posted 30 July 2019 - 12:49 PM

Around 2 pm EST Tues, g & s pulling upwards in anticipation of an upmove around tomorrow's Fed announcement.

Overall gold is overbought so my commitment is limited.







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