Fully, I have mentioned something in my post below. Wondering if you recall what I am on about by any chance. Wonder if there was ever a neckline extension there?
I mentioned in the comments of one of your Friday Posts Gold would be smacked from 1294 to 1284 +/- Sunday night.
This is the Formula that has worked all year overbought/oversold spot gold. $1200/(USD Index*100). Friday Gold was overbought by roughly $12. Today it is exactly where the formula says Spot is supposed to be. A Bull or Bear Market in Gold will only happen when the Formula breaks. That will take physical buying from the public IMO.
Currently FMV Gold Spot 1200/(93.90/100) = $1278. The Euro makes up the bulk of the dollar index so IMO it’s all about the EURUSD
The formula will break then there will be a Bull or a Bear? But for now sideways because that is where the CB’s want it.
Since Dec 16, 2016 USD front runs Spot Gold and Spot Gold front runs PM’s. Overbought Oversold conditions develop and I either Buy or Sell typically on a 44 day cycle. When will the formula break? But it will eventually.
Fully, I have mentioned something in my post below. Wondering if you recall what I am on about by any chance. Wonder if there was ever a neckline extension there?
I don’t see a bear flag frankly Wazcam.
potential H and S bottom…but we are still nowhere really…no breakout in sight either way
Miners are holding up relatively well IMO.
running out of sellers I guess.
Gold is managed by the Central Banks.
I mentioned in the comments of one of your Friday Posts Gold would be smacked from 1294 to 1284 +/- Sunday night.
This is the Formula that has worked all year overbought/oversold spot gold. $1200/(USD Index*100). Friday Gold was overbought by roughly $12. Today it is exactly where the formula says Spot is supposed to be. A Bull or Bear Market in Gold will only happen when the Formula breaks. That will take physical buying from the public IMO.
Currently FMV Gold Spot 1200/(93.90/100) = $1278. The Euro makes up the bulk of the dollar index so IMO it’s all about the EURUSD
The formula will break then there will be a Bull or a Bear? But for now sideways because that is where the CB’s want it.
Since Dec 16, 2016 USD front runs Spot Gold and Spot Gold front runs PM’s. Overbought Oversold conditions develop and I either Buy or Sell typically on a 44 day cycle. When will the formula break? But it will eventually.