It seems never ending. The bad news for the bears - and the good news for the bulls - that we are still in the triangle. The good news: it seems to me that miners bottomed yesterday. And gold might printed the DCL yesterday also. As I'm writing this we are very close - less than 1$- from the daily swing.
Yellen speech today will be important for gold's direction. If she hits a hawkish tone - I doubt that - we might break down from the triangle. Even if that happens I don't think we will break below the last DCL (1310.5). If she hits a dovish tone we might immediately rally up to the upper trendline of the triangle. At that level I would like to see as price stays above the green trendline ( Bearmarket's trendline from the all time tops)
Indicators RSI has give in the sign of the bottom. We left the overbought levels on the daily chart.
I think the FED 's last chance for the rate hike was the last meeting. As the elections are very close the only thing left for them is speaking about hiking but nothing will happen.
In the worst case we can be in this triangle 3-4 weeks from now.
ความคิดเห็น
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DAILY SWING LOW PRINTED: We broke above yesterday's high. Just be sure that a few people already reading the text of the speech.....
ความคิดเห็น
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And the dollar is not doing anything. Just imagine if we break down from that flag in the dollar ...
ความคิดเห็น
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I just hope I'm not alone on the bull train?!
ความคิดเห็น
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What a volatile market.... Holding the position. At the end we will not get a green marubozu just an inverted hammer. We were going up on high volume and bears pushed down the price at the low volume period. The inverted hammer also a trend changing pattern.
ความคิดเห็น
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As it's a continuation pattern the lower trendline of the triangle will hold.
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Deuce888
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Give Chartwatchers a break. The guy is giving free advice. Take it or leave it but don't complain like a little girl. He called NGAS earlier this week and USOIL bounce off 200MA.
Good job mate. I read your opinions daily.
MarioLeb
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funny last time 3 months ago i followed u on gold that it will crash , and i almost lost half my account, now i went againts u. and i think i made the right one
TheZabisyu
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This comment was absolutelly unnecessary.
s.mahdi
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100% right..i survived due to stop loss>>>>otherwise market is moving 100% opposite at least on short term trades>>>>
Loii
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probably gonna go lower
s.mahdi
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very useful analysis...seems to be the more logical to retest the strong 1324.18 resistance level and move down to 1300.which is a strong support >>> then up to 1350
UnknownUnicorn540299
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It just kissed the lower triangle trendline. Added JNUG. Sell it all if it breaks :)
chartwatchers
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The vikings always had metal balls. Are you the descendant of Ragnar Lothbrok?
UnknownUnicorn540299
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Look at the long-term down trendline kiss of GDXJ from the other day on daily chart. Would you resist?
Good job mate. I read your opinions daily.