“how may bears are left to defend the 2013 neckline?”
Oh probably just the NY Fed’s trading desk and their aligned banker trading desks. Iffen gold breaks though their “maginot line” then we’ll get a rear guard action retreat, IMO.
The Maginot Line, named after the French Minister of War André Maginot, was a line of concrete fortifications, obstacles, and weapon installations built by France in the 1930s to deter invasion by Germany and force them to move around the fortifications
Where is the volume on the last rally from the last shoulder bottom? Volume was declining from the January 2018 top through the August 2018 bottom and continued to decline to the next top in February 2019, (you can see that on the Rambus chart) and it wasn’t much better on this last runup. Was higher, but still way below the volume at the January 2018 peak, so unless Edwards & Magee are FOS, its not enough to signal a new bull market. And of course the neckline has not been broken, and based on COT data and other info available it doesn’t look like its going to happen in any serious way.
“how may bears are left to defend the 2013 neckline?”
Oh probably just the NY Fed’s trading desk and their aligned banker trading desks. Iffen gold breaks though their “maginot line” then we’ll get a rear guard action retreat, IMO.
“maginot line” I read this term before. What is it??
The Maginot Line, named after the French Minister of War André Maginot, was a line of concrete fortifications, obstacles, and weapon installations built by France in the 1930s to deter invasion by Germany and force them to move around the fortifications
Thanks. What I will do w/o you??
Manipulation Theory fell apart in 2010 2011 JS.
How do we explain the parabolas that lead to Gold 1900 and Silver 50
How do we explain Gold has broken out UP in most world currencies as NorthStar has shown ?
Resistance is futile.
Governments and central banks have managed the gold price for centuries it has not change.
Where is the volume on the last rally from the last shoulder bottom? Volume was declining from the January 2018 top through the August 2018 bottom and continued to decline to the next top in February 2019, (you can see that on the Rambus chart) and it wasn’t much better on this last runup. Was higher, but still way below the volume at the January 2018 peak, so unless Edwards & Magee are FOS, its not enough to signal a new bull market. And of course the neckline has not been broken, and based on COT data and other info available it doesn’t look like its going to happen in any serious way.
We shall see. But its time for an open mind.
But for sure we have our Line !
I’m also not sure what “volume” is represented on Stock Charts for $Gold
If its the nearest comex contract that can be misleading as there are rollovers in the futures markets