IF gold is going to "break", today is most likely day.
If bulls can prevent that, then still would not take much here for a big stick save...
But if it were to go out below 1800 on the week, things could start to get real dicey.
Posted 24 June 2022 - 06:55 AM
IF gold is going to "break", today is most likely day.
If bulls can prevent that, then still would not take much here for a big stick save...
But if it were to go out below 1800 on the week, things could start to get real dicey.
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
Posted 24 June 2022 - 07:18 AM
IF gold is going to "break", today is most likely day.
If bulls can prevent that, then still would not take much here for a big stick save...
But if it were to go out below 1800 on the week, things could start to get real dicey.
Gold and Silver did not go below their May lows while gdx, nugt etc did, so the metals are showing positive divergence and they should break out of their channels and wedges eventually, taking nugt back to the 80 level.
Edited by Russ, 24 June 2022 - 07:21 AM.
Posted 24 June 2022 - 08:14 AM
Bulls trying after the shakeout below 1820....back above 1833, and just maybe...
Edited by K Wave, 24 June 2022 - 08:14 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
Posted 24 June 2022 - 08:19 AM
OI on gold is creeping up and also on metals like copper, palladium and platinum.
Posted 24 June 2022 - 08:59 AM
thanks linron where do you find that data ?
Posted 24 June 2022 - 09:02 AM
i think rgld is a buy right here fwiw i like the time segmented volume on it fwiw
Posted 24 June 2022 - 09:22 AM
thanks linron where do you find that data ?
CME
Posted 24 June 2022 - 09:23 AM
thank you sir
Posted 24 June 2022 - 09:24 AM
the time segmented volume on gdx bottomed on june 14 and has advanced nicely even though price went lower
that is always a bullish sign. i believe we have one more dip in gdx and that should be it
Posted 24 June 2022 - 09:28 AM
Still seeing possibility yesterday was final washout low on GDX...but it has to hold, and then go up and reclaim 30 quickly.
I do believe that if GDX trades back above 30.50 one more time, then bears may done having their fun...
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy