and Gold rejected at 1800 again...back toe Great 1793 Battle Zone....
Bulls do not want to slip and fall here....
the equinox marks the turn in the pm sector "a new leg higher"
Started by
dharma
, Mar 18 2021 09:21 AM
2864 replies to this topic
#1001
K Wave
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Posted 14 September 2021 - 08:40 AM
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#1002
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Posted 14 September 2021 - 09:41 AM
bulls hold back test of 1793 and plow through 1800....
things starting to brighten a bit...
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#1003
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Posted 14 September 2021 - 09:55 AM
GDX starting to look like a turn... stop 32...
1 min
5 min
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#1004
CHAx
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Posted 14 September 2021 - 09:55 AM
bulls hold back test of 1793 and plow through 1800....
things starting to brighten a bit...
Have any downside targets for /PL and /PA? Or do you think its almost done there?
Edited by CHAx, 14 September 2021 - 09:55 AM.
#1005
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Posted 14 September 2021 - 11:00 AM
bulls hold back test of 1793 and plow through 1800....
things starting to brighten a bit...
Have any downside targets for /PL and /PA? Or do you think its almost done there?
Neither one of them showing any real sign of bottom yet, so the 900 targets still reasonably likely to be hit.
But possible this AM low was it, if gold indeed holds up today....
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#1006
CHAx
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Posted 14 September 2021 - 11:14 AM
bulls hold back test of 1793 and plow through 1800....
things starting to brighten a bit...
Have any downside targets for /PL and /PA? Or do you think its almost done there?
Neither one of them showing any real sign of bottom yet, so the 900 targets still reasonably likely to be hit.
But possible this AM low was it, if gold indeed holds up today....
Well I wouldn't say there are no signs of bottoming for /PA. Sentiment has been abysmal since last week. Last Friday's COT data has small speculators nearly flat and commercials (who are almost always hedgers and net short) are now net long. That is usually a sign that we are closing in on a major low. But not always, FWIW. Also, I can see 5 waves down in what I am assuming is a C wave. Now, the issue here of course is that this could be 5 waves in a wave 3 of larger degree OR we are in a wave C (which can have extensions of 5 waves). So I am just cautiously watching at this time.
#1007
linrom1
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Posted 14 September 2021 - 12:01 PM
Pesavento went short gold at 1808. He has a good track record trading short term.
#1008
dougie
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Posted 14 September 2021 - 01:01 PM
gold yen lining up for a turn here? often a good tell
#1009
dharma
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Posted 14 September 2021 - 01:31 PM
need a couple of closes over 1800 to see if this is not just a bounce. today it looks good. want to see more proof. crude oil over 70 is a key . it is still the grease that is used everywhere. encouraging action . want to see the platinum complex start to wake up
dharma
#1010
dharma
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Posted 14 September 2021 - 02:03 PM
2 things
1 there is this inverse h&s pattern on the gold chart. to be valid the market has to get above the neckline. if it does , then it projects to new highs
2 for the last 5-6 days the broad market , nasdaq/dow/spx opens higher and then sells off to negative on the day. i am taking this as retail investors come in , in the morning and the institutions use this to cut back on their exposure. retail investors have put in the most money ever for the retail investor. ie they have the most exposure ever. so the broad market is exhibiting topping action on a lot of fronts. that rising bear wedge is a parabolic and bearish pattern. heads up. we are in crash season sept/oct and yet it is bullish season for the pms. i think its not a time to commit new funds
dharma
