2864 replies to this topic

[K Wave]

Hopefully...once Gold finishes its consolidation here above the 200 day, it will start to look a bit more like Gold in Turkish Lira!

 

[K Wave]

Meanwhile, what is quite likely The Last Battle rages on in Silver....

 

Once this resistance is overcome, should be nothing left to stop it.....

And If / when it clears $28, get ready fpr moon shot....

 

[K Wave]

The easy to predict part of the Platinum move looks done...very nice ping pong action...

 

Now the question is...How Much does it correct??

 

[K Wave]

As long as Gold continues to hold above 200 day MA...am leaning fairly strongly towards mostly sideways corrective wave before next stage thrusters kick in....

[CHAx]

Crude and Copper getting smoked here.   Im thinking crude finds a bottom pretty fast here, but copper looks like it may take out 4.00.  The fact that it tried to rally and failed at 4.45 is a huge problem.  I wish they had just taken it straight down to 4.00.....

[K Wave]

Crude and Copper getting smoked here.   Im thinking crude finds a bottom pretty fast here, but copper looks like it may take out 4.00.  The fact that it tried to rally and failed at 4.45 is a huge problem.  I wish they had just taken it straight down to 4.00.....

Yup Copper big potential warning sign with things at resistance levels...

 

Looks like bulls may have just lost a hugely important battle on Copper.

 

So until Silver an Platinum actually break through the big resistance levels, at least some caution is warranted...

[jabat]

Hitting Our Head All Week – And, It’s Giving Me A Headache

By Avi

There really is not a lot for me to add to the weekend analysis in metals, as we have spent the better part of the last week hitting our head on resistance.  And, my preference remains for more of a pullback to set up a better upside trade.

But, I have to discuss the alternative at this time.  And, it is represented best by silver.  If silver is able to break out directly through its resistance box, then I am only left with a larger degree leading diagonal, which would be in the 3rd wave of that leading diagonal.

I suspect we may see the same type of structure in GDX, as its rally structure has been equally unclear.   But, GLD seems to suggest it can take the lead higher, and continue in its bullish structure.  And, as long as it takes out its pivot, then that pivot will then become support.

Overall, I am still bullish the complex, but I am still seeking a lower-risk entry for an aggressive long side trade.  And, as it presents today, I am not likely going to get it unless I see a pullback in the coming days.  But, if we take out resistance in GDX and silver, I am suspecting we may be dealing with a larger diagonal structure pointing higher, which will make it much harder to trade aggressively due to its lesser reliable structure.

[dharma]

well avi, tomorrow is the full moon , i suspect the pullback begins.  1833 is support  below that 1813 . i dont want to see the 1833 taken out  as it was stiff resistance on the way up.   @some point rates will rise and that will put a floor under the pms. silver remains quite attractive, it seems quite undervalued to me   https://pbs.twimg.co...=jpg&name=small    oh and platinum is also way undervalued

dharma

Edited by dharma, 18 November 2021 - 10:44 AM.

[linrom1]

 

It looks to me that NEM has bottomed. If this is so, it should rapidly accelerate upward; otherwise, more downside.

[K Wave]

Copper 4 hour...big rebound to resistance area...

 

If that 200 kinks down over the top here soon...............