Tag: chart analysis

Gold Getting a Double Boost to its 1238.90 Target

| April 13, 2015 | Category: Trading
Gold Getting a Double Boost to its 1238.90 Target

Two robust, ABC uptrends of different degree are driving this rally, auguring a successful voyage to the1238.90 target we’ve been using to stay abreast of the move. It has been relatively easy to trade, since the swing highs and lows have come more or less where expected, at Hidden Pivot supports and resistances.

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Nothing Of Substance Going On In Precious Metals. Fiat Dollar Controlling?

| April 12, 2015 | Category: Price
Nothing Of Substance Going On In Precious Metals. Fiat Dollar Controlling?

For as long as the fast fading, but still very lethal, US military dominance exists, a renewed bull market in precious metals cannot. It is really that simple. The US, as emperor may not be wearing any clothes, but it still wields the mightiest sword. Sadly, the worst may be yet to come as the US refuses to bow out gracefully to the will of the rest of the world seeking only harmony and growth.

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Silver Rallies, but at the Wrong Time

Silver Rallies, but at the Wrong Time

Buyers probed and diddled the 17.240 pivot for nearly seven hours yesterday before taking a running start at it. This they did, however, at a time of day when durable rallies almost never happen, and this one was no exception. Buyers will need to regroup for another try, presumably within the bullish framework of the pattern shown.

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Why Stupidity Is The Most Widely Used Currency In Western World

Why Stupidity Is The Most Widely Used Currency In Western World

How do governments get away with what they do? Stupidity of the unquestioning and compliant masses. Each government that decided to give up their independent sovereignty in favor of a faux form of governing by a bunch of unelected [by the people], bought and paid for bureaucrats, is proof that stupidity goes well beyond US borders.

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We Nailed Gold’s High Within a Dime, but What Now?

We Nailed Gold’s High Within a Dime, but What Now?

Yesterday’s strong rally, amounting to $26 from low to high, topped within a single tick of the 1208.60 target I’d provided. This validates the pattern itself (see inset), with the implication that any upthrust exceeding the high would be a good bet to reach 1238.90 precisely.

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Gold’s Bull Markets In Europe and Japan Remain Unnoticed

| April 1, 2015 | Category: Price
Gold’s Bull Markets In Europe and Japan Remain Unnoticed

Admittedly, this is one of the worst corrections in the last decades (since gold started trading freely), and there is almost no sign of life in gold and silver since the price crash in April and June of 2013. But under the hood we can observe another picture. Case in point: the price of gold in several other major currencies is showing very bullish setups.

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Room for Just a Little More Weakness in June Gold

| March 31, 2015 | Category: Technicals
Room for Just a Little More Weakness in June Gold

June Gold’s chart leaves a little more room for corrective weakness than did the March futures’ chart. Specifically, the selloff of the last three days has yet to breach the 1180.70 Hidden Pivot support of the patterns shown. If that were to occur, we would have to infer that more downside to at least 1173.30 awaits. That target is calculated by simply sliding up to the commanding high at 1220.40 as a point ‘A’ for the downtrending pattern.

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Gold Price Taking A Well Deserved Rest

| March 30, 2015 | Category: Price
Gold Price Taking A Well Deserved Rest

The recent rally is respectable because Gold pushed through several significant resistance areas in the process. The is break through $1181 to $1188, then the round-number at $1200 along with the 50 day exponential moving average which is also at $1200. After the recent 70 run Gold deserves a break to consolidate its gains and gather energy for the next push higher.

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Gold: Key Price Points To Watch On Monday

| March 30, 2015 | Category: Technicals
Gold: Key Price Points To Watch On Monday

Friday’s dirge was dispiriting, but we can take a patient view nonetheless because the weakness merely touched the 1191.60 downside target I’d broached here without demolishing it. The decline left us with the prospect of a marginally lower low on Monday at 1186.90, calculated by shifting the b and c coordinates down a peg (to B2/C2). You could bottom-fish there with a stop-loss as tight as four ticks. Alternatively, the futures would need to close above 1208.40, the midpoint pivot of the large ABC pattern shown, to suggest bulls are about to roll.

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What Moved Gold And Silver Prices? Uranus Square Pluto And Bab el-Mandeb. What?!

| March 28, 2015 | Category: Price
What Moved Gold And Silver Prices? Uranus Square Pluto And Bab el-Mandeb. What?!

So many “experts” have so much to say in correlating the current prices for gold and silver with factors like how much gold China and Russia have been accumulating, the shortages of and demand for physical PMs, hypothecating, rehypothocating [aka stealing] of gold by Western Central Banks, the record sales for gold and silver coins, world-wide, etc, etc, etc. Yet, with all of the pinpoint accuracy in reporting, backed by statistics, graphs, charts with arrows drawn in to show the next direction [always wrong] for PMs, there has been little demonstrable cause and effect relations between events and prices. We have two.

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For Once, Gold Actually Holds onto a Gain

| March 20, 2015 | Category: Technicals
For Once, Gold Actually Holds onto a Gain

For once in a rare change, gold futures have actually held onto a gain achieved the previous day. Although they made no upside headway on Thursday, it was something of an achievement for them to have merely stayed aloft. The bullish abc pattern shown has a clear-as-can-be rally target at 1186.70 that has been confirmed by the stall precisely at 1172.70, the ‘p’ midpoint pivot. As always, an easy move through p would imply more upside to D, at least. If bulls are revved up and ready to blast off, they should be able to surpass 1186.70 today without much trouble.

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What’s Wrong With Silver?

| March 19, 2015 | Category: Price
What’s Wrong With Silver?

Note the massive correction in prices, and the deeply oversold condition of the Relative Strength Indicator and the TDI. Prices have been ready to turn up for several months. Prices may not rally this week but they will soon. Stacking silver is good insurance. What could go wrong with our political and financial systems that might assist silver prices? Economic wars and hot military wars increase debt and commodity prices. Gold and silver will see another rally, probably one that surprises almost everyone.

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Gold Is Bucking The Trend Of The Dollar

| March 19, 2015 | Category: Price
Gold Is Bucking The Trend Of The Dollar

If we do see gold break out of its bearish channel next week, the yellow metal may target the Fibonacci retracements of the 2-month drop at 1205 (38.2% or even 1245 (61.8%) moving into Q2, especially if the greenback sees a more meaningful correction. On the other hand, a reversal off the top of the channel may take prices down to test the five-year low at 1130. Time will tell if gold can continue to buck the trend in the buck.

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Gold Price Forecast: Is Gold Moving Towards $817.50?

| March 17, 2015 | Category: Price
Gold Price Forecast: Is Gold Moving Towards $817.50?

The key take-away for now is that traders and investors with a short to mid-term investment horizon should carefully watch the 1151.60 USD price level. It truly is a critical price level. In case gold would stay above 1151.60 on a monthly basis, gold can be traded from the long side. However, if there would be a break below 1151.60 on the monthly chart, then the short trade is the right one until target D is reached.

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