2512 replies to this topic

[senorBS]

 

Gold has bounced from 1795 low to 1812 area as I write this however I would be very careful here as IMO the recent decline from 1834 to that 1795 low looks like a clean 5 down basis hourly charts, so this might be a quick abc rally and then down it goes again. Just my 2 cents and as always DYODD

 

Senor

5 down from 1834 to 1795 (1 or A) remains the more viable count here IMO. Looks like an abc rally ended this morning at 1825, so at a minimum we should decline below 1795 and the huge key will be whether its a wave 3 or C if/when we trade below 1795. we see

 

Senor

 

so far this near term Gold wave count was spot on, we just registered a marginal new below the wave A or 1 low at 1795, the absolute huge Q is whether we soon end a wave c down and rally strongly, or head significantly lower in a wave 3 - near term should be decided today IMO

 

Senor

[senorBS]

so far I like the action with decent miner strength and good silver short term action off a "possible" wave E low and gold off a "possible" abc near term bottom, however if we take todays low out could get ugly, miners overall acting fairly decent, lets see if just perhaps we can get a sustained rally - one can dream

 

Senor

[senorBS]

get gold above 1806 then 1814 and I start smilin just a tiny, tiny bit

 

Senor

[CHAx]

get gold above 1806 then 1814 and I start smilin just a tiny, tiny bit

 

Senor

 

 

I really hope so, I'm very excited to trade a bull market rather than a bear market!  Nice commentary last few days, I'm in general agreement with what you are suggesting 

 

$USD 8hour/daily giving some hope today as well.

Edited by CHAx, 21 July 2021 - 10:34 AM.

[linrom1]

NEM has earnings tomorrow. Last time prior to announcement it tanked $6, this time it's $5. Good earnings tomorrow could lift all miners.

[senorBS]

NEM has earnings tomorrow. Last time prior to announcement it tanked $6, this time it's $5. Good earnings tomorrow could lift all miners.

Yep, seems to be a good bit of fear and perhaps "discounting" re NEM's earnings

 

Senor

[linrom1]

Meanwhile GDXJ won't let you in, it just keeps going up without any retracements!

[senorBS]

looks like NEM beat expectations with a solid qtr, did a little buyin there pre market with a few more orders scaled in at lower prices, as always DYODD

 

Senor

[senorBS]

did some significant buying this mornin in KL and NEM, as always DYODD

 

Senor

[gannman]

this whole sector is severely undervalued. to me we should get a big rally here and also a sell of in the general market

 

is that possible i dont know but this sector is set to fly