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#1 gannman

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Posted 25 January 2022 - 02:17 PM

i think gld is just at the start of a powerful move up here 

 

closing above 175 would confirm it and then i would expect 

 

a quick run into the 190's 


feeling mellow with the yellow metal


#2 fib_1618

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Posted 25 January 2022 - 04:44 PM

i think gld is just at the start of a powerful move up here 

 

closing above 175 would confirm it and then i would expect 

 

a quick run into the 190's 

 

With benchmark rates going higher, not likely.

 

Current A/D chart from last weekend isn't supportive as well.

 

Fib

 

breadthpm012122.png


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#3 gannman

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Posted 26 January 2022 - 06:33 AM

i like the technicals on gld here they look good to me


feeling mellow with the yellow metal


#4 fib_1618

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Posted 26 January 2022 - 09:02 AM

i like the technicals on gld here they look good to me

 

Such as?

 

Fib


Edited by fib_1618, 26 January 2022 - 09:02 AM.

Better to ignore me than abhor me.

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"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw

 

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#5 gannman

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Posted 26 January 2022 - 11:45 AM

time segmented volume is excellent 

 

the daily macd  and my interpretation of elliott , which is of course subjective 


Edited by gannman, 26 January 2022 - 11:47 AM.

feeling mellow with the yellow metal


#6 steadyquest

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Posted 26 January 2022 - 04:06 PM

Will it break back above or is gold finally putting 2400 in the rearview.

 

spx-gld.png



#7 steadyquest

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Posted 26 January 2022 - 04:31 PM

Will it break back above or is gold finally putting 2400 1800 in the rearview. (sorry - silver/gold brainfart)

 

What I don't understand is why silver can't seem to hold above 24.



#8 fib_1618

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Posted 26 January 2022 - 05:58 PM

What I don't understand is why silver can't seem to hold above 24.

 

Aye...that's the rub, isn't it?!?

 

Silver has been always considered the "poor man's gold" and tends to lack luster in initial stages of bullish trends in gold. So when you see silver leading, as it did last week, you know that the weak hands are fronting the complex based on emotion and not so much on fundamentals (no less, technical considerations). Another reason currently is that the $24 level is also where the 200 day EMA is which causes longer term resistance.

 

Fib


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#9 gannman

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Posted 27 January 2022 - 02:40 PM

well like i said i needed a move above 175 to get verification and that obviously is not happening

 

i have a date around feb 5 feb 6 for a possible bottom in this complex 


feeling mellow with the yellow metal


#10 kaiser soze

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Posted 27 January 2022 - 04:05 PM

Gold is said to be a stock market hedge.  The fact that gold is suffering a severe drop just when stocks are also dropping is strange. 

 

1.  Either gold weakness is false and stocks will continue to drop as gold recovers and moves higher in the next several days and weeks

 

OR

 

2.  Gold weakness is real and enduring, and stocks will turn around soon 

 

I favor scenario 2.