Jump to content



Photo

golds next leg higher


  • Please log in to reply
468 replies to this topic

#461 AChartist

AChartist

    Tim

  • Traders-Talk User
  • 5,711 posts

Posted 22 May 2020 - 08:17 AM

Daily silver cycle is low in 6 days.

There is a strong cycle high can hold it together for 2-3 more days 

so figure high in 3 days (T-Weds) sharp drop at 5-6 days (Th-Fri).

 

So I'll hold off my attempt at AGQ, SIL, SILJ long calls until next Thu.

I would be looking then at end of Jun expiration. I can put some more in 401k gold funds 

next Thu.

 

Then the strong weekly cycle could work for a few 5-6 weeks from now.

 

The next daily cycle peak is 25 trading days,6-26 mark you calendars.

That could be a best short term step out point close enough to align with 

the next weekly high.


Edited by AChartist, 22 May 2020 - 08:26 AM.

"marxism-lennonism-communism always fails and never worked, because I know

some of them, and they don't work"  M.Jordan


#462 Smithy

Smithy

    Member

  • Traders-Talk User
  • 1,238 posts

Posted 22 May 2020 - 08:52 AM

Tim, thanks for providing dates  :)



#463 K Wave

K Wave

    Member

  • Traders-Talk User
  • 5,458 posts

Posted 22 May 2020 - 09:22 AM

GC still in battle zone between 15 min 900 at 1730 and 5 min 900 at 1740...

 

Whichever falls first.... 1730, or 1740 may be the new direction soon...this does look like it could be a significant pivot


What A Beautiful Black Sky


#464 dharma

dharma

    Member

  • Traders-Talk User
  • 8,288 posts

Posted 22 May 2020 - 11:06 AM

dsi

gold=79

silver =84

platinum=75

crude =79  i am going to include crude, it is significant in many ways and moved in tandem in the 70s bull

thanks for the update senor, i am in dba w/a starter position. and watching. . would love to hear about your car deal i am going to 

get a new car.  so you said 20% below msrp  what make and model? thanks anything you want to share will be appreciated if you prefer privacy you can pm me

today is the new moon . so something new. barrick has not been given renewal on its lease on its new guinea mine , one of the best most prolific mines in the world . location of your mines is key. @ present i dont venture beyond, usa, canada , mexico , and australia. i expect nationalizations of all kinds of raw materials to take place. governments are going to be starved for revenue streams 

weak demand season.  i  will  not do anything at this time. rumblings on some european banks. there is a saying , "where there is 

smoke there is fire"

we are witnessing the destruction of fiat. no matter what color or how pretty,  the powers that be are debasing/

dharma



#465 Smithy

Smithy

    Member

  • Traders-Talk User
  • 1,238 posts

Posted 22 May 2020 - 11:46 AM

dharma, the Porgera mine in New Guinea will attract terrorists, as the Panguna Mine (on Bougainville, where I once worked as a geologist) did and that mine was closed. The terrorists (nationalists) want the money the miner is making and are opposed to the pollution (tailings). Hard to see Porgera succeeding no matter what the Court rules.


Edited by Smithy, 22 May 2020 - 11:47 AM.


#466 K Wave

K Wave

    Member

  • Traders-Talk User
  • 5,458 posts

Posted 22 May 2020 - 11:48 AM

GLD may be nearing the end of the wedgie... not sure if decision will be made today, or they can drag it out until over the weekend...


What A Beautiful Black Sky


#467 senorBS

senorBS

    Member

  • TT Member+
  • 9,210 posts

Posted 23 May 2020 - 07:41 PM

dharma, the Porgera mine in New Guinea will attract terrorists, as the Panguna Mine (on Bougainville, where I once worked as a geologist) did and that mine was closed. The terrorists (nationalists) want the money the miner is making and are opposed to the pollution (tailings). Hard to see Porgera succeeding no matter what the Court rules.

I am really trying to stay away from companies with mines in unstable place which encompasses a lot of miners. Canada/U.S./Aus are my preferred locales

 

Senor



#468 K Wave

K Wave

    Member

  • Traders-Talk User
  • 5,458 posts

Posted 24 May 2020 - 07:19 PM

GC getting precariously close to the verge of synchronous rollover tonight....

 

if 1730 gives way for any length of time, the cascade downward might begin...

 

Back above 1738, and bulls might stave off the short term disaster...

 

Could see 1660 or so relatively quickly if bears break it open here....


Edited by K Wave, 24 May 2020 - 07:19 PM.

What A Beautiful Black Sky


#469 Smithy

Smithy

    Member

  • Traders-Talk User
  • 1,238 posts

Posted 24 May 2020 - 07:24 PM

Yeah, I'm with you. The gold COT small spec bulls % long is 73.6%, the highest in 7 years.

Also gold open interest jumped by 6.3%. Early warnings.