5764 replies to this topic

[linrom1]

This is also a good possibility.

[Russ]

This is also a good possibility.

With a 30+ dollar move up, I doubt it but we'll see. I bought nugt here at 30.74

[dougie]

This is also a good possibility.

yep, maybe after a bit more up

[cafeflorida]

According to Eric Hadik, gold has a good shot at staging an advance here.

 

Gold Holds 1820 Support; Triggers March 8 Buy Signal

 

03-08-23 - “…Silver peaked in early-Jan ‘23, while fulfilling weekly & monthly cycles, and Gold stretched its rally into early-Feb ’23.  Silver’s Jan ‘23 peak fulfilled its multi-month upside target (24.50 - 24.68/SIH) and set the stage for a multi-month correction. Both dropped to downside price targets with Silver dropping below support while Gold continues to hold its 2 - 4 week downside target (and 1 - 2 month support) at ~1820/GCJ… projecting a future high in early-May ‘23.

 

That is when the next 1 - 2 month peak is most likely.  A high in early-May ‘23 would fulfill a ~4-month low-high-(high) Cycle Progression in Silver and a ~3-month low-high-(high) Cycle Progression in Gold.  The recent high has also seen Silver create a ~2-month low-low-high-high-(high) Cycle Progression that projects a future intermediate peak in early-May ’23.

 

Gold would also complete successive advances of equal duration (~7 months/~31 weeks, when compared to Aug ’21 - Mar ’22) if it extends its overall advance into early-May ’23.  And that would arrive ~6-months/~180 degrees before a more significant cycle peak in early-Nov ’23 (see March ’23 INSIIDE Track for add’l details).

 

This week’s sell-off is highlighting the daily trend divergence in Gold & Silver - spurring Silver to new lows (its daily downtrend could not turn up) and Gold to a retest of its low while twice neutralizing its daily uptrend.  As long as Gold does not give a daily close below 1813.4/GCJ, its daily trend would project a new rally.

 

1 - 4 week traders can enter long positions in April Comex Gold futures...

 

Gold’s March 8 close at 1818.6/GCJ triggered a new multi-week buy signal that could have ramifications into early-May ’23 (when the next 1 - 2 month peak is projected) and even into Nov ’23 - when longer-term cycles peak.  Grains are the opposite as they reinforce mid-Feb sell signals and project further downside.

[dougie]

Bold call would take many of us by surprise

[dougie]

Today's gdx bounce takes us to .32 fib on the decline
Might be it

[dharma]

sure looks like gold double bottomed

dharma

[linrom1]

sure looks like gold double bottomed

dharma

It's a very good possibility. Now we have almost endless fundamentals going for gold: bank closures; falling dollar; falling rates and never ending bailouts of Democrat institutions and cities . The next shoe to drop is going to be RE and Biden will bailout every single Teachers' Pension Fund.

[dharma]

so are investors saying dont worry , buy stocks  its only the banks that are in trouble

dharma

[stubaby]

sure looks like gold double bottomed

dharma

Early February Gap down filled on GLD today - now we see if that was it for this bounce.