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out on a limb! bottom for wave 2 in !?


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#491 hhh

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Posted 15 August 2019 - 07:42 AM

Bull flag on the metals? DX just shot up for some reason.



#492 gannman

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Posted 15 August 2019 - 09:06 AM

Peter hug a technician on kitco thinks if gld closes above 1522 we will get a quick

Run to 1600 fwiw
feeling mellow with the yellow metal


#493 senorBS

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Posted 15 August 2019 - 12:26 PM

Peter hug a technician on kitco thinks if gld closes above 1522 we will get a quick

Run to 1600 fwiw

Very critical big picture price area in gold, after the 2011 major top above 1900 the 1522-1532 area was key support until prices finally

broke below that area in Mar/April of 2013, I would be surprised if we broke above that area without some backing and

filling, however if we did close above that zone for a few days and on a weekly basis it IMO would be very bullish. And

in this crazy environment we are now in it would not surprise me.

 

Senor



#494 gannman

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Posted 15 August 2019 - 01:57 PM

thanks senor i was wondering where he got that number. the metals are just plain strong

 

they dont really want to give much back and the conditions right now for gold are bullish

 

as the central banks will all be cutting. i am sitting and enjoying this 


feeling mellow with the yellow metal


#495 gannman

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Posted 15 August 2019 - 03:05 PM

well it closed over 1522 with last minute buying looks good to me 


feeling mellow with the yellow metal


#496 dharma

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Posted 15 August 2019 - 05:04 PM

miners are a bit of a concern!

not crazy about their action today

dharma

yes,i was watching those levels too  gold looks great will it be the engine?!



#497 senorBS

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Posted 15 August 2019 - 05:58 PM

miners are a bit of a concern!

not crazy about their action today

dharma

yes,i was watching those levels too  gold looks great will it be the engine?!

chance here the HUI/Gold ratio may be at or very near an end to an almost month long correction from its rally high on July 19th - its been testing its lower 200-day MA for the past 3 days and also gotten modestly oversold - lets see if its ready to begin a new leg up

 

Senor



#498 stubaby

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Posted 15 August 2019 - 09:15 PM

 

miners are a bit of a concern!

not crazy about their action today

dharma

yes,i was watching those levels too  gold looks great will it be the engine?!

chance here the HUI/Gold ratio may be at or very near an end to an almost month long correction from its rally high on July 19th - its been testing its lower 200-day MA for the past 3 days and also gotten modestly oversold - lets see if its ready to begin a new leg up

 

Senor

 

Yep - it feels like miners are lagging, but they are just missing their afterburner (I show $HUI:$GOLD testing the 50-day MA, FWIW)

 

http://schrts.co/MAaJpPpD



#499 Russ

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Posted 16 August 2019 - 10:25 AM

Possible low for Gold around Aug. 22...  


"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
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#500 dharma

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Posted 16 August 2019 - 10:31 AM

 

 

miners are a bit of a concern!

not crazy about their action today

dharma

yes,i was watching those levels too  gold looks great will it be the engine?!

chance here the HUI/Gold ratio may be at or very near an end to an almost month long correction from its rally high on July 19th - its been testing its lower 200-day MA for the past 3 days and also gotten modestly oversold - lets see if its ready to begin a new leg up

 

Senor

 

Yep - it feels like miners are lagging, but they are just missing their afterburner (I show $HUI:$GOLD testing the 50-day MA, FWIW)

 

http://schrts.co/MAaJpPpD

 

my take is this the dsi spent days at extreme levels above 90 and more like 95. we got frothy. when that happens a correction ensues , however , 

in this case,we backed off and are consolidating. if we consolidate and dont break down ie hold gdx 27 and 1500 gold. then i think we are gathering energy to propel above the resistance levels. back when gold spent time consolidating in the 1500s region.  we are consolidating here for another leg. do your own dd i am stretching my long positions  

dharma

for some reason i have this notion that novo is going to make a big strike . either hennigh is a shyster or he is  a very skilled geologist. i have taken this opportunity of consolidation to build a formidable position in novo. pacton has built a big land position so i am nibbling there. do your own dd these are crap shoots.