Loading ...This is as positive as it gets for Gold at the moment!
Post on Seeking Alpha re the gold price with the conclusion reproduced below and a link for the entire article:
The trends in gold are very mixed depending on which timeframe you view them. Our approach should fit our timeframe. To summarize:
Very long term – the trend is up. Hold.
Long term – the trend is consolidating. Hold or wait to buy.
Medium Term – the trend is mixed, but generally higher. Take swing trades in the range and look for a good entry to $1500 area later in the year.
Short term – the trend is up in a choppy / correctional pattern. Longs can target $1350ish. There could be a good short from this area too.
Very short term – the trend is down. Shorts shouldn’t get too comfortable as the decline looks likely to complete before $1200.
https://seekingalpha.com/article/4069045-precious-metals-trends-every-timeframe?app=1&uprof=45&isDirectRoadblock=false
With respect Odd Job …that’s serious ?
Was this guy ST bullish last week too ?
we have much better analysis right here IMO
Yes I think it is, and no he was not bullish before, as this is his first full article on gold. He uses EW, which I have to say is still a mystery to me, but based on posts from Avi I can see the logic in it and I am trying to learn more.
He seems to be suggesting (as many on this site are) that gold will revisit $1050 by September and then recover to target $1500 by early 2018. We will see if that happens (I certainly hope so), but I posted this as a view from a different perspective, (EW in this case) which I think is useful and his articles have been very good on the SM moves. If you don’t want me to post links to his articles then I will not, I was just trying to be helpful 🙂
I thought I commented at few older posts that China Goldsmith’s almanac said May and June favors hold sale. Well May begins from 5 May, not 1st. Strangely prices ‘seems’ to reverse today.