Loading ...Is a Gold Super Squeeze about to Begin?
Well, crap. Why’d we have to wake up in bizarro world!? The yellow triangle is breached to the topside, and other resistance I was watching on this and other timeframes yesterday are now breached.
What now? Lots of time till the open but this could be a short covering blood bath starting today, no?
This is what Sir Surf City couldn’t envision: What will happen to gold if the dollar is going to the bottom of its bull flag or heck to make the bull flag bottom rail all the way down to 90!? A super short squeeze in gold up to $1240!?
Now, I find myself hoping for a false breakout and a quick drop into the open. But if gold stays up here, it’s possible according to the premarket action that gdx and gdxj open above their respective highs of yesterday.
Mark? Anyone? Your thoughts before the open please?
Zoomed below:
http://charts.dacharts.net/2015-10-09/d1197.png
not breached yet. Huh? Keep us informed please.
im now wondering if my data is off… disregard these charts until if figure things out.. getting different data point from two different feeds… drives me crazy.. line could be higher up.. can you draw the same line on a weekly
Just did and posted 🙂
http://charts.dacharts.net/2015-10-09/d1196.png
very similar to this fork line… but the fork line shows a near miss so far even though it looks like a hit.. fork line lies exactly at 1158.40
Starr pointed out that according to Armstrong’s “matrix” gold will top “the end of Oct” but the matrix actually shows the week of Oct 26 as being the high….you can see the matrix or computer arrays at armstrongeconomics.com and the commentary for Oct 6, 2015 so I had decided to sit on the sidelines and not go short again until that week in Oct.
Thanks. That could be when gold gets to $1240.