Goldtent TA Paradise

$1400 Looking Likely

1. pedro_deleon says:

   November 7, 2019 - 2:19 pm at 2:19 pm

   Should bounce there. Won’t bottom there.

2. Bikoo99 says:

   November 7, 2019 - 2:26 pm at 2:26 pm

   EW counts calls line in sand is $1346. If it crosses that level $1000 or lower is in the card in few years. Cycly wave B is complete.
   Gold is in cycle wave C down.

   Gold is in the swirl of three cycle waves a, b, and c. Till these waves are complete no bull trend.

3. Bikoo99 says:

   November 7, 2019 - 2:29 pm at 2:29 pm

   one market saying is the surprises are always in the direction of established trend. In this case it appears it is down.

   • Karl says:

     November 7, 2019 - 4:35 pm at 4:35 pm

     I just do not for the life of me see being sure of much of anything market-related ever. Surprises happen. However things seem even less clear now than at other times.

     The long term Au trends are up from around the beginning of 2016, from the beginning of the century, from way before then, so the big moves are likely to be up. However the shorter term trends are down. Moreover the recent move up was really ugly. It was one of those [….I censored myself here] “buy-buy-buy-you-have-to-buy-or-you’ll-get-left-behind you-just-have-to-buy-or-you’re-really-stupid” “BREAK-OUT!!!!” filaments in a hurricane moves. It was all well and good for people who did not own any to have bought some significant amounts of substantial companies then, but the forced nature of the rhetoric was excessive and could have misled people into over-commitment.

     I personally have been extremely uncomfortable ever since before our recent little trash-on-a-flimsy-filament-BREAK-OUT!!!! top. I think you can make great arguments for it going either way right now, or just sticking around here at this level. Personally, although I am still quite net long despite having sold a lot beginning in August, I am hoping for around Au 1380. As I’ve noted previously 17 seems like an attractor for silver, but if it goes down a lot more it’s even better for buying. Maybe wishful thinking, but if I had to guess (and it’s just guessing) I am guessing maybe it goes even below 1400 to 1380. Hope so. I have some cash.

     Just my jaded opinions.

4. red label says:

   November 7, 2019 - 5:57 pm at 5:57 pm

   The DXY is looking bullish this week off the 200 DSMA. $Au was rising with the $US until first week September when $Au topped….strange things playing out in the markets. The VIX seems eerily quiet as of late………