678 replies to this topic

[Smithy]

Why 8/16?

[linrom1]

Why 8/16?

Option expiration!

[Smithy]

I'm looking for this gold rally to top out before too long.

We are still within my $1511 +/- $10 topping band. We'll see.

[linrom1]

I'm looking for this gold rally to top out before too long.

We are still within my $1511 +/- $10 topping band. We'll see.

The most interesting gold presentation I saw yesterday from last month was Prechter group's. While I have no idea if their count is still valid, Hotchberg was looking at large ABC correction with the market currently in upward corrective wave B that supposed to top somewhere in 1450 range. The next leg would be the very bearish final leg down in C wave to about 1000 or so?

 

I would like to hear what Armstrong has to say about gold now since he didn't think this was the right time for gold to move during his interview with Greg Hunter several weeks ago.

 

I like silver better because its more economical, but its not gold. Somehow I find it hard to swallow silver at $17. It doesn't seem cheap?

[Smithy]

I first assess the fundamentals for gold before looking at technicals.

Are the fundamentals in place for higher gold prices?

[senorBS]

 

I'm looking for this gold rally to top out before too long.

We are still within my $1511 +/- $10 topping band. We'll see.

The most interesting gold presentation I saw yesterday from last month was Prechter group's. While I have no idea if their count is still valid, Hotchberg was looking at large ABC correction with the market currently in upward corrective wave B that supposed to top somewhere in 1450 range. The next leg would be the very bearish final leg down in C wave to about 1000 or so?

 

I would like to hear what Armstrong has to say about gold now since he didn't think this was the right time for gold to move during his interview with Greg Hunter several weeks ago.

 

I like silver better because its more economical, but its not gold. Somehow I find it hard to swallow silver at $17. It doesn't seem cheap?

 

interest rates are headed to zero all over the world where they aren't there yet, charts look good big picture, crap shows everywhere, and someone where I used to work thinks this is a B wave? all I can add is a BIG FAT LOL and da beat goes on

 

Senor

[Smithy]

Removed

Edited by Smithy, 02 September 2019 - 01:38 PM.

[hhh]

It's interesting that back in 2009/2010, the price didn't peak until almost a year after a double top in Commercials' shorts.

[Smithy]

Here you go.

 

[Smithy]

As of Weds evening spot silver is trading at $18.08.

 

Monday's low of $17.80 was low enough in my Elliott work to qualify that the minimum downmove level has been achieved. Silver could move up from here, or the triangle on the 8 hr chart could be a bearish pennant and pole pattern projecting down to as low as $16.40. That would be getting close to 62% retrace and $1.68 lower than tonight.

Good trading, guys.