Tim Bost on Presavento said yesterday that gold is a sell now and a buy on 11/1. He said it's going to bottom today and tomorrow? It is a short on 10/27 -10/29 for modest 2% gain.
the equinox marks the turn in the pm sector "a new leg higher"
#1542
Posted 28 October 2021 - 09:53 AM
om gdxj looking for 42.5 which is a .38 retrace of the leg up
if it holds that area and take out 45 i believe we have a nice run coming
#1543
Posted 28 October 2021 - 10:16 AM
i get the hanke-cofinas gold sentiment indicator i dont know what to make of if?????
it all boils down to the fed. it meets next week. it is ripe and primed to make a mistake. the broad market is priced to perfection. anything they do will most probably cause a correction. if they sit pat , then inflation will continue to accelerate . they are behind the curve. back in the day , it took volcker quite some time to get in front of the curve, and
that was not what killed the gold bull. having experienced the gold bull of the 70s , from 78 forward, i would think raising rates or tapering would be bullish for gold. bearish for the broad market . my guess a policy era is in the cards.
dharma
i read someone who thinks an attack on the southern flank of the usa is in the cards. i have no idea.
#1544
Posted 28 October 2021 - 10:17 AM
bulls tryin' to setup another run at 169.........
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#1545
Posted 28 October 2021 - 10:36 AM
GLD 5 min still looking more bullish than bearish as it keeps holding right where it needs to as it climbs the stairs out of the basement
And 3 min chart still bullish as long as those 3 bottoms continue to hold...
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#1546
Posted 28 October 2021 - 10:39 AM
IF GLD can clear 168.75 one more time here shortly, then likely 169 would get taken as well...
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#1547
Posted 28 October 2021 - 10:52 AM
Gold Euro 4 hour still looking more bullish than bearish with 200 now kinking up above now rising 900...
This is what the laws of mathematics require to happen early in a bull run....
IF it can consolidate the break above 1540 and then push out over the triple top around 1560, then may finally be set free from those nasty bears
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#1548
Posted 28 October 2021 - 10:59 AM
here is a treasure trove of charts. https://www.crescat....recious-metals/ tavi costa is the real deal
dharma
Edited by dharma, 28 October 2021 - 11:01 AM.
#1549
Posted 28 October 2021 - 06:58 PM
i am not doing anything in this sector until after the employment report on nov 5. the cot last week
was lousy they were piling into shorts. if gdxj 42.5 or 41.6 can hold then i think we will rally up to gdxj 55 area fwiw
#1550
Posted 29 October 2021 - 07:51 AM
looking like 4 hour pivot resistance still holding on Gold....
Below 1780 again and bulls could possibly still have some trouble on their hands...
Edited by K Wave, 29 October 2021 - 07:51 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