Nine days.
That's what we needed in gold during the first part of the year to print 3 powerful rallies. (Green rectangles)
I think the same thing is happening right now.
Oil has entered into a steep decline. We might heading down into the DCL. The elections are coming in 8 days and one of the nominees is might getting accused by the FBI.
If that happens that will not be positive for the stocks exchange and the dollar... I cannot imagine a better scenario for gold than pre-election chaos with falling stocks plus falling oil with the weakening dollar... Until the US election gold might print this year's most powerful rally in 9 days.
Last Friday
We need to talk a few words about last Friday. (Pls see the 15 min chart below)
We had a really good US GDP data. ( Maybe too good... :Real gross domestic product increased at an annual rate of 2.9 percent in the third quarter of 2016 ) What else can we wait at the end of Obama's presidency than a very good GDP data? But the dollar couldn't rally more on the fantastic near 3% GDP number. In the next 10 minutes after the news it bounced and continued its decline. The same happened to gold : a breakdown and a buyback after the first 10 minutes . The unlimited seller was back again and he made a mistake: he was trying to suppress gold against the weakening dollar. He left his fingerprint on the chart. This was the sign that he was working hard... But when the FBI news came out it stopped the selling immediately. From that point this unlimited player was out of the game. On Friday and today gold and dollar was traded inversely I haven't seen any sign of price control. This makes our predictions easier...
Indicators
We are above the 10 EMA and the 200 EMA. Also last week Friday we regained the 200 SMA and today we are not just closing above the 200 SMA but closing at a higher daily high.
I think in the next few days gold will be driven by the weakening dollar and falling stocks. As money flowing out of SM , oil and dollar it will find its way into precious metals.
It's time for our 50-100$ pop.
That's what we needed in gold during the first part of the year to print 3 powerful rallies. (Green rectangles)
I think the same thing is happening right now.
Oil has entered into a steep decline. We might heading down into the DCL. The elections are coming in 8 days and one of the nominees is might getting accused by the FBI.
If that happens that will not be positive for the stocks exchange and the dollar... I cannot imagine a better scenario for gold than pre-election chaos with falling stocks plus falling oil with the weakening dollar... Until the US election gold might print this year's most powerful rally in 9 days.
Last Friday
We need to talk a few words about last Friday. (Pls see the 15 min chart below)
We had a really good US GDP data. ( Maybe too good... :Real gross domestic product increased at an annual rate of 2.9 percent in the third quarter of 2016 ) What else can we wait at the end of Obama's presidency than a very good GDP data? But the dollar couldn't rally more on the fantastic near 3% GDP number. In the next 10 minutes after the news it bounced and continued its decline. The same happened to gold : a breakdown and a buyback after the first 10 minutes . The unlimited seller was back again and he made a mistake: he was trying to suppress gold against the weakening dollar. He left his fingerprint on the chart. This was the sign that he was working hard... But when the FBI news came out it stopped the selling immediately. From that point this unlimited player was out of the game. On Friday and today gold and dollar was traded inversely I haven't seen any sign of price control. This makes our predictions easier...
Indicators
We are above the 10 EMA and the 200 EMA. Also last week Friday we regained the 200 SMA and today we are not just closing above the 200 SMA but closing at a higher daily high.
I think in the next few days gold will be driven by the weakening dollar and falling stocks. As money flowing out of SM , oil and dollar it will find its way into precious metals.
It's time for our 50-100$ pop.
評論:
We've just broke the "FBI high" ...
評論:
評論:
評論:
I was referring to Friday's hourly chart but it was not posted somehow.
I posted it again:
I posted it again:
評論:
Above
評論:
So just as I said a week ago no lower low will be in gold.
I think I posted the maximum number of posts at the bottom.
At least the haters cannot post that I abandoned my gold posts.
I think I posted the maximum number of posts at the bottom.
At least the haters cannot post that I abandoned my gold posts.
評論:
Day 5. Printed a 40$ rally till today.
評論:
Day 6 was on Friday. 3 more days till the top. So we are going to peek on Wednesday : it's the day after the elections.