2864 replies to this topic

[linrom1]

 

The reason for Friday's selloff was liquidation of 13k futures.

context?  Are you saying open interest fell 13k?  I havent looked at anything this weekend yet.

 

Yes

[K Wave]

So far so good for bulls overnight....that last pivot set likely big, but as long as bulls hang on to it, possible they finally overcome big time resistance level and take the Intermediate term ball back.

 

If that pivot goes now, may mean bulls do not have what it takes just yet....

 

 

[K Wave]

1773 area may be key overnight...reclaiming that level could be first sign bulls may mean business.

 

And above 1780 again, bears might start to get a bit nervous...

Edited by K Wave, 17 October 2021 - 06:40 PM.

[K Wave]

Silver 5 min still looking more bullish than bearish...

 

As long as it holds above 23 tonight, perhaps it can lead the way higher.

 

[K Wave]

Gold Euro hourly.....IF it can just hold the back test of 1520 after the EPIC battle to rise above, bulls might start to charge....

 

Otherwise likely a big time failure...

 

[dougie]

I bailed on metals near the close on Friday, as I did not like at all the dead cat feel at the cliff edge on GLD.

 

With the images below, it should be pretty clear why, with failures on multiple intermediate time frames.........this thing could now go fully synchronous downside in a heart beat...

 

IF....instead of gapping down tonight, which is now a reasonably high probability, the metals can find their footing overnight before going over the edge, will jump back in with a very tight stop....

 

GLD 1 Hr

 

[

 

GLD 2 Hr

 

 

GLD 3 hour...900 now fully rolling over.....and failure to hold the 200 breakout attempt

 

 

GLD 4 Hr .... yet another seriously potentially ugly setup

 

agree; onus is on the BULLS here, NOT the bears

[dougie]

sentiment is hopwever mostly supportive though rarely a great timing indicator

[K Wave]

Copper still ripping higher after the the battle resolution at 4.30

 

If Gold can reclaim 1800, might see same kind of action....

[K Wave]

Silver bulls perkin' up their ears....

[K Wave]

Gold euro trying to hopefully make a final pivot low around that 1520 area.

Bulls most likely do not want to see that swing low taken out now....