Gold Charting and Gold TA Chat

Putin... and PAL breaking to the upside (786 on PAL should be interesting)... Oh and dollar weakness... oh and seasonals :)
 
thatguy said:
Putin... and PAL breaking to the upside (786 on PAL should be interesting)... Oh and dollar weakness... oh and seasonals :)
Click to expand...

Where's the excellent chart with notations and lines added? :(
 
here's PAL for ya... :D
1021_pal_break_out.png
 
About US$1331 close last night?

A chart, any chart, in this instance an update of the Gold chart by Trader Dan. A follow on from the one thatguy posted a page back in this thread - see thumb. Trader Dan reckons, "This level had better hold or gold is going to fall back closer to $1300"

- Still above the $1271 'pivot point' that was all the rage technically a couple of months back, and roughly shown in blue on prior aforementioned chart (thumb)
- Still above 50 day moving average and 200 dma (not shown)

However, feeling bearish short term myself, $1300 looks very possible - so maybe opportunities ahead in gold stocks?

Wednesday, March 19, 2014
Chart20140319115846.png

Source: http://traderdannorcini.blogspot.com.au/

[imgz=http://forums.silverstackers.com/uploads/1893_trader_dan_gold.png]
1893_trader_dan_gold.png
[/imgz]
 
Trader Dan can't find evidence of appetite for more physical gold
http://traderdannorcini.blogspot.com.au/

"For the week, GLD showed a drop of 10 tons in gold holdings. Friday alone brought a drop of 2.7 tons, which I find rather remarkable considering the fact that gold over at the Comex shot up sharply when news hit the wires about the first of two helicopters being shot down over in Ukraine.

I have mentioned previously, that many in the West are looking at rallies in gold as selling opportunities. This seems to be the case with GLD. One might have thoughts that with the safe haven plays that we witnessed across the futures market on Friday ( Yen higher, gold higher, and bonds higher ) , that GLD would register an increase in gold holdings. That was not the case.

Western sentiment towards gold remains dubious therefore. Since the beginning of the year, GLD has dropped 16 tons of gold. Total holdings are now reported at 782.85 tons, a 64 month low!

I put a lot of credence in this big ETF as a gauge of Western-oriented investment gold demand. When gold was in a strong bullish uptrend, reported holdings rose along with the trend. When gold entered its current bear market, reported holdings began to drop alongside the move lower in price. Demand from Western-based investors has thus ebbed and flowed along with price which is as it should be.

When we see these sorts of divergences, with the Comex gold price going one way and the reported holdings of GLD going the other, it indicates that the move higher in price was being primarily driven by short covering over in the futures market."
Click to expand...
- more at link
 
No need to put up a chart as everyone knows its 1180 that everybody is looking at.... Friday 3rd of Oct is a sell if it gets to 1240ish. Lets hope for a nice waterfall to frollick in below 1180 :D
 
Well this is what I got in my mail from Seeking Alpha:

Stocks and dollar higher, bonds and gold lower following jobs number 8:43 AM
Stephen Alpher, SA News Editor

S&P 500 (NYSEARCA:SPY) futures initially dipped on the strong employment numbers, but are now higher by 0.75%.
The 10-year Treasury yield is taking the solid print somewhat in stride for now, up two basis points since the release to 2.46%. TLT, TBT flat premarket.
The dollar is sharply higher across the board. - UUP +0.9% premarket - and gold has slumped all the way to $1,200 per ounce. GLD -1.1%.
Click to expand...
 
Gold holding but PGM's smoked just like 2008 (Pt went from $2000+ to $750)

1302_platinum_2008.gif


industrial metals crashing when stock market at all time high ??? Pt stockpiles exhausted after 8 month SA strike ????

This is adding up to a massive crash that has already begun !
 
My interpretation of the gold chart below (weekly, USD).

Gold currently sitting on a significant support line at $1190. The last two occasions the price hit this area in June 2013 and Dec 2013, the price rebounded back to $1250 in a matter of a few weeks (and then onto $1420). Should $1190 fail, then I'd expect at least $1065 to be hit.

XAUUSDO_scottreevecom_6oct2014.jpg


~ Scott
 
You must log in or register to reply here.
Back
Top