Loading ...Resistance is still in control
Was looking for clues whether a trend change has occurred….not yet according to my charts……….
And support held on JDST. I was looking for a close around $8 and that’s what we got….with a long tailed, gap down doji.
and for some reason I just knew the Dow would give up 17K today…..let the cascade begin………
HL
http://schrts.co/8CXXC6
Many exhaustive looking sequences on huge volume into resistance:
AEM http://schrts.co/UGhomf
AU http://schrts.co/Fx8CUV
and Grin was totally right…..this neckline on gold ended up playing out as opposed to the one I offered last night.
http://schrts.co/u8eq1e
Mark/Grin, Thanks for this.So do you think it looks like Gold/GDX could be heading down tomorrow?
dont really know dave, just hate these gaps up on the dailies, you just never know when they will get filled. Having said that the + miners are into resistence, might be a spot for them to correct qickly and fill the gaps. No one knows…
if they o say they know, run the other way, dont walk ha ha
Agree…..who knows???? Based on the gold action in evening, the metal certainly looks poised to keep going up. Resistance does look nearby. I think we may be at a point where the metal could run up a bit more but the GDX looks closer to resistance.
http://schrts.co/LBLcvu
Looks like the metal may have hit a resistance line this evening. Really impressive parabolic rise for sure!
http://invst.ly/1-3h
Thanks Grin….much appreciated
Mark, liked that Gold chart….sure looks like we have hit some strong resistance
I will be watching the structure of gold closely from here. I don’t like the parabolic rise into resistance with no pauses for flag-building along the way. In contrast, look at the structure in Jan 2015….very nice stairstep bullish structure with flags all along the way. If prices drop straight back into the 1120s next week then gold has no investment interest and we will see it was a parabolic backtest before resuming the downtrend.