2512 replies to this topic

[dougie]

gold sure looks like we topped again iand will soon head back down. Late August high 1600s? lower 1600s possible. we have weekly lower highs lower lows: BE CAREFUL

Edited by dougie, 23 July 2021 - 01:27 AM.

[linrom1]

I wonder what the DSI is?

[linrom1]

I wonder what the DSI is? I think everyone up on this sector?
 

[senorBS]

gold sure looks like we topped again iand will soon head back down. Late August high 1600s? lower 1600s possible. we have weekly lower highs lower lows: BE CAREFUL

I certainly see that as a "possibility" but not one I at all favor at this time given the oversold condition of the sector, bearish sentiment and IMO NO decisively bearish wave counts at all. But beauty is the eye of the beholder. Am I uncertain and a bt nervous, yep and always am when these type of conditions prevail, also why I am about 35% long and have stops

 

Senor

[senorBS]

Like the NEM action after the early earnings washout to a new decline low and daily RSI divergence, now up on session and pushin norte, lets see how the last hr goes

 

Senor

NEM another marginal new decline low this mornin at 49.03, a 2nd hrly RSI divergence (nice lookin bullish "coil"), daily divergence continues at very oversold levels and now a rally back to 59.85, to me it looks more like ending action then a big drop ahead, but we will see

 

Senor

[CHAx]

 

Like the NEM action after the early earnings washout to a new decline low and daily RSI divergence, now up on session and pushin norte, lets see how the last hr goes

 

Senor

NEM another marginal new decline low this mornin at 49.03, a 2nd hrly RSI divergence (nice lookin bullish "coil"), daily divergence continues at very oversold levels and now a rally back to 59.85, to me it looks more like ending action then a big drop ahead, but we will see

 

Senor

 

 

Hey a couple of interesting things of note today.  They ran the stops below 1790 on /GC which covers 2.5 weeks worth of clustered lows.... 3k contracts in 1 minute and instantly snapping back with no follow through.  *often* but not always, they are clearing the deck for launch.  But also, if they give up that pivot Sunday night or Monday, LOB.

 

Second note, they ran the stops below 1050 on /PL later in the day, where /GC and /SI barely budged.  *usually* a move to a major low would see a sympathy selloff from GC and SI.  

 

Need to keep an eye on these pivots the next 48 hours.  We've got a monster wave 3 going Norte or Sur very soon.  I agree it is probably north, but I'm not married to it.

Edited by CHAx, 23 July 2021 - 11:02 AM.

[linrom1]

[dougie]

interesting count thanks

[dougie]

 

interesting count thanks

 

only tying is it is kinda stretched for a 4 isnt it?

[senorBS]

NEM at session highs after making a new decline low in early action, I'll take it. Very oversold with this low so far diverging nicely vs prev low at one of the more oversold levels over the past few tears - just look at the NEM chart just posted previouslyy. I think one also needs to picky on WHAT they own, I liked NEM earnings, outlook looks good as well - compare vs IAG and increasing costs and lower production - stock got hammered today. My two largest holdings here by far are KL and NEM, both pay nice divvy as well, as always DYODD

 

Senor