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Re: Trades - Gold/Silverbear *PIC*
In Response To: Trades - Gold ()

Yes he does have a reasonable technical view that is nice to see without all the typical hysterical hype most Gold commentators have. Most of those guys don't dare even suggest anything negative about precious metals or they'll lose a large percentage of their clients/subscribers. But this 3 year uptrendline is important and I agree price could break 'briefly' with a short breakdown and reversal much like Crude just did in reverse with a false breakout yesterday and then a return to trend move again. Only thing I didn't agree with was his Gold in Swiss Francs chart and theory as the Swiss pegged their Franc to the Euro months ago due to a rapidly rising currency that made trade impossible. So that is now a manipulated currency. I recall considering buying the Swiss Franc ETF and saw it plunge and break its uptrend with the news of the peg to the Euro. Thanks for the link. Notice on this Gold chart price runs up and pokes its nose above the falling 20ema and bumps the falling 50ema and sells off each time for the last couple of months consistently now. A change there would be revealing. Also note the RSI 21 running up to the 50 line resistance and then backing off like its hit a concrete ceiling. Same thing. These things have to change on the upside to get bullish. Unless one enjoys drawdowns of course. I don't...............I don't try to be 'right'. I just want to mainly keep what I already have and possibly make more if the market gods and common sense are with me. See the moving averages converging. Both the 20ema and 200ema are touching with the 50ema heading towards them. Doesn't happen often and the market tends to make a sharp move when seen. Want to know the last time this occurred? Answer: Early October 2008. Just something else to think about...................

Messages In This Thread

Trades - Gold
Re: Trades - Gold/Silverbear *PIC*
Re: Trades - Gold/Silverbear