Gold has to overcome 15 min resistance before it is going anywhere to the upside....
so far... not looking so good this AM....
Edited by K Wave, 07 December 2021 - 09:02 AM.
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
#1921
K Wave
-
- Traders-Talk User
- 27,379 posts
Member
Posted 07 December 2021 - 09:02 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
#1922
K Wave
-
- Traders-Talk User
- 27,379 posts
Member
Posted 07 December 2021 - 09:05 AM
For Dr. Copper, could very well all come down to the 1 min line here....
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#1923
K Wave
-
- Traders-Talk User
- 27,379 posts
Member
Posted 07 December 2021 - 09:11 AM
Gold bulls attempting their last stand charge....do or die here....
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#1924
K Wave
-
- Traders-Talk User
- 27,379 posts
Member
Posted 07 December 2021 - 10:37 AM
Gold bulls still pluggin' away...
maybe..just maybe, we get a turn here....
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#1925
dharma
-
- Traders-Talk User
- 9,625 posts
Member
Posted 07 December 2021 - 11:42 AM
starting the turn, if not more consolidation. raising rates, will help the cause. cutting qe will help the cause of the pm bulls.
the captain
gdx https://captainewave...wdec721gdxd.png
gold https://captainewave...wdec721gold.png
silver https://captainewave.../ewdec721si.png
spy https://captainewave...ewdec721spd.png
dharma
#1926
gannman
-
- Traders-Talk User
- 6,948 posts
Member
Posted 07 December 2021 - 11:58 AM
i think this sector has one more leg down . but if it doesnt i am ok with it
i think the bottom will also coincide with a major top in the broad market fwiw
feeling mellow with the yellow metal
#1927
gannman
-
- Traders-Talk User
- 6,948 posts
Member
Posted 07 December 2021 - 12:42 PM
bought some more stuff in the gld sector bottom is close
feeling mellow with the yellow metal
#1928
gannman
-
- Traders-Talk User
- 6,948 posts
Member
Posted 07 December 2021 - 04:54 PM
also picking up inverse etfs fwiw
feeling mellow with the yellow metal
#1929
dharma
-
- Traders-Talk User
- 9,625 posts
Member
Posted 08 December 2021 - 03:31 PM
tough in here , not much is being revealed by the market. we are getting to the point where the 25.4yr and 8.46yr cycle are starting or will start the downside of their cycles. watching , sitting on the edge of my seat. to see if we get the rally that i was expecting or the downside of the cycle is what dominates
dharma
#1930
Ken
-
- Traders-Talk User
- 160 posts
Member
Posted 08 December 2021 - 08:17 PM
tough in here , not much is being revealed by the market. we are getting to the point where the 25.4yr and 8.46yr cycle are starting or will start the downside of their cycles. watching , sitting on the edge of my seat. to see if we get the rally that i was expecting or the downside of the cycle is what dominates
dharma
dharma, I have the same way of thinking. I'm nervous with gold here because it's getting late in the longer term cycles.
I see a 23.5 year cycle that started with the double bottoms of August 1999 and April 2001. That 23.5 year cycle low is coming up probably around September 2023 +/- 8 months. That's not that far away and if that is THE LOW in gold then there will be a period of months of gold falling into that 23.5 year cycle low price.
The 23.5 year cycle further breaks down into 3 smaller cycles of 7.83 years. Again gold is in the 3rd and final 7.83 year cycle which will culminate with the 23.5 year cycle low around September 2023 +/- 8 months.
That means gold may have already put in its 23.5 year cycle high (and its 3rd 7.83 year cycle high) back on August 7th, 2020 at $2089.20.
There is the possibility that gold may have one more big rally before it declines into its 7.83 and 23.5 year cycle lows in 2023. According to Raymond Merriman, based on astrology there is a planetary situation that could result in a rally in gold. I don't know astrology very well so I'll tell you what Merriman is thinking and I'd like your opinion on it.
Merriman states that Jupiter ingresses into Pisces, December 29, 2021 to May 10, 2022. During that time Jupiter will conjoin Neptune on April 12, 2022. Merriman writes, "These can be interpreted as inflationary dynamics for Jupiter expands and Neptune has no boundaries. At its extreme, it can correspond to collective states of hysteria and frenzied speculation in financial markets, either driving prices insanely higher or frighteningly lower."
Merriman believes gold could go higher as long as $1670 holds! This price is absolutely critical. If $1670 falls at any time that is the end of gold for a while and it will further decline into its 23.5 year cycle low. Merriman goes on to state, "With Jupiter there is no price too high to pay. With Neptune, matters can spiral out of control and emotions can border on irrationalism."
I should also mention that I'm not too worried about gold just yet. Gold typically has a shorter cycle called the primary cycle which lasts 15 to 21 weeks in duration from primary cycle low to primary cycle low. This week starting from Dec 6th is the 17th week of gold's 15 to 21 week primary cycle which started off of the lows of $1677.90 on August 9, 2021. Gold is in fact due right now for a primary cycle low any day now or it may have already completed the primary cycle low back on Thursday, December 2nd (which would be the 16th week of the primary cycle) at $1762.20.
