Goldtent TA Paradise

Gold and Silver

1. Alex33 says:

   January 6, 2020 - 11:27 am at 11:27 am

   Gold on a short-term basis is clearly overbought. We needs some weeks to consolidate like the $1350 and $1450 level in June and July this year that presented resistance. Maybe this is the top of a daily cycle, who knows.

2. Alex33 says:

   January 6, 2020 - 11:29 am at 11:29 am

   I assume we will test $1525-$1535 level and go back up after that.

   • Steins1 says:

     January 6, 2020 - 11:42 am at 11:42 am

     Both of your post make sense plus what I’ve said below. Things need to consolidate, cool off and reset.

3. Steins1 says:

   January 6, 2020 - 11:39 am at 11:39 am

   I have to think that PM stocks have had a good run and these spikes in gold and silver price represent uncertainty in their price next.
   Remember this happened when T was elected, up and down about $50 if I remember right?
   Usually this would be an upswing in PM, but between profit taking and uncertainty in the metal prices it kind of makes sense.
   While CD is down some today, it’s still up nearly 50% from near where Plunger recommended it and I bought it along with most of his others,
   some even more.
   I wonder if the metal price swings are just to wacky for investors to deal with right now and are selling any news at all, including the metal price being up?
   But it’s not just up, it’s swinging wildly. We know that a more orderly fashion would probably be preferred.

   Add the typical computer algo’s and shorts and you get who knows what?
   The Spock/Plunger is down about 1 1/2% today, not really too bad so far but I expect more down as all the above pile on!

   • Karl says:

     January 6, 2020 - 4:53 pm at 4:53 pm

     You are right I believe, just right.

     Unless one is either foolish, lucky, or tuned in enough to trade extremely short-term in possibly highly manipulated markets often probably dominated by AI, probably all the more in epochs of volatility, if one invests in PM stocks one if anything should welcome mild pullbacks as beneficial calming events when the gold prices appear to “break out” etc etc especially on news. Rather than worrying about the immediate one preferably instead looks at many, many charts other than very short-term ones and sees lower-left to upper-right trending. This upward trend in most multiple time frames is good in an all too imperfect world. The world would be miraculous in its improvement if it were to better itself even a bit as much as gold prices and gold stock prices probably will in the fairly near term. Even if our prices don’t go up, there are worse things that can happen, and unfortunately might.

4. Siri says:

   January 6, 2020 - 4:37 pm at 4:37 pm

   Repeated 2 days in a row Friday and Monday, good thing is metal price is still up, miners will catch up soon, they are at resistence, hope these will be cleared soon.