It would be an "odds against" call for December.
Gold Price - Where is it heading?
- Thread starter guycharles
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It would be an "odds against" call for December.
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Trader on Bloomberg speculating on Gold. $2000 in the very near future.
http://www.bloomberg.com/video/81690186/
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Is anyone watching gold to break this triangle at 1750 for a strong move and if so which way out of interest ?
explod
explod
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Gold fast approaching a critical point.
Firstly, notice the 144MA respect dating back since January of 2009.
Secondly, a symmetrical triangle has been forming for some time and a breakout is near.
Breakout to the upside will see a retest of 1800 and to the downside first real support level is 1610-1600.
However, given the long build up of the triangle I believe the breakout will test either 1900 or 1480. Both are stronger support and resistance levels in the last 9 months (Highs and Lows) and form the basis for the symmetrical triangle.
The strength of the uptrend and the extremely supportive 144MA have me favoring a move to the upside.
Disclaimer: Only my opinion DYOR etc
Firstly, notice the 144MA respect dating back since January of 2009.
Secondly, a symmetrical triangle has been forming for some time and a breakout is near.
Breakout to the upside will see a retest of 1800 and to the downside first real support level is 1610-1600.
However, given the long build up of the triangle I believe the breakout will test either 1900 or 1480. Both are stronger support and resistance levels in the last 9 months (Highs and Lows) and form the basis for the symmetrical triangle.
The strength of the uptrend and the extremely supportive 144MA have me favoring a move to the upside.
Disclaimer: Only my opinion DYOR etc
2300 will be doable if it goes
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It's getting closer, capitalistic comrades........
Rumours, or perhaps even fact, that the Anglo-American CB's are active sellers (the cappers are back)....... thank you FED and BOE..........for a lower entry price.
Interesting that the wedges are timed to co-incide with the Euro make-or-break 'final' meeting of the minds which will ultimatly fail to save the Euro - debt swamped.....
Timing will be critical for the ultimate trade -
PS Have a happy Christmas
Rumours, or perhaps even fact, that the Anglo-American CB's are active sellers (the cappers are back)....... thank you FED and BOE..........for a lower entry price.
Interesting that the wedges are timed to co-incide with the Euro make-or-break 'final' meeting of the minds which will ultimatly fail to save the Euro - debt swamped.....
Timing will be critical for the ultimate trade -
- Euro zone is in recession, attempts to save have failed.
- Flight to $USD's
- Buy gold (transfer cash in bank to physical gold holdings)
- China has a hard landing afterall
- $AU tanks
- AU gold price doubles
- Global recession
- $USD's tank
- US price of gold explodes
- AU gold price doubles, again, & again????
PS Have a happy Christmas
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Sounds pretty much in line with my predictions - however I would have thought it would be better to buy USD before EUM collapses, and then switch to gold when USD hits some sort of a peak?
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Yeh, sounds good, if you want to take some money off the table on the way...
Also, keep this link handy, and get a client code.....
http://www.abcbullion.com.au/index.php/default/product
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TA of Gold - 13 Dec 2011
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In Linear chart (weekly): we see that Gold has a strong support line (Red) near $1600.00
next valid support line is the green one which is the main upward trend line for gold
Gold around $1600.00 where has the red support line is also around important 38.2% Fibo
In logarithmic chart (daily) : the importance of $1600.00 is more clear. Gold at around $1600.00 would touch lower line of the upward channel as very valid support line. If this support line can't hold Gold from falling, the target would be around $1300.00 which has important Fibo 50% as well.
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In Linear chart (weekly): we see that Gold has a strong support line (Red) near $1600.00
next valid support line is the green one which is the main upward trend line for gold
Gold around $1600.00 where has the red support line is also around important 38.2% Fibo
In logarithmic chart (daily) : the importance of $1600.00 is more clear. Gold at around $1600.00 would touch lower line of the upward channel as very valid support line. If this support line can't hold Gold from falling, the target would be around $1300.00 which has important Fibo 50% as well.
The price of gold has been breaking down
http://www.bespokeinvest.com/thinkb...-to-end-longest-streak-above-200-dmaever.html
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http://www.bespokeinvest.com/thinkb...-to-end-longest-streak-above-200-dmaever.html
:::
Hi.
I digest the gold price in conjunction with the $US. The dollar is currently attempting to take out the high on the 4/10/2011.
When that happens you may have some positive movement.
joea
"S&P 500/Gold Correlation Spikes"
http://www.bespokeinvest.com/thinkbig/2011/12/14/sp-500gold-correlation-spikes.html
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http://www.bespokeinvest.com/thinkbig/2011/12/14/sp-500gold-correlation-spikes.html
***
The chart show a linear regression line . (center line). The out side lines pick up the extremes. The current price is the "x" mark. (today). By Friday we will know if it bounces or keeps declining. It just dropped about $76. us.
joea
Attachments
If gold turns and moves up towards $us2000, a number of Australian miners will be good value. SLR and KGL are both moving down to complete wave 4 Elliott. So a wave 5 long on some of the gold miners may produce good results. I have not checked them all yet.
This is not buying advice, just an example of the wave formation ready to play out.
joea
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Rising price of gold
The price of gold is currently around $1700 an ounce and reports suggest that it will reach more than $2000 an ounce. My broker is suggesting a few gold stocks to me, is it better to go with a junior company in a great region such as VTM or go for a company that is already producing?
The price of gold is currently around $1700 an ounce and reports suggest that it will reach more than $2000 an ounce. My broker is suggesting a few gold stocks to me, is it better to go with a junior company in a great region such as VTM or go for a company that is already producing?
Re: Rising price of gold
Well I just had a look at VTM, and personally I think your broker is pulling your leg.
VTM is a spec share. If my Elliott wave is correct, it may make a small move up, then continue its trend down to a new low. (not much data).
Here is one answer to your correction. You would have to be vary wary of your trading period with VTM. The only price sensitive doc. is "Exploration Commences at Dangue". The other flags are to do with option Issue.
joea
Well I just had a look at VTM, and personally I think your broker is pulling your leg.
VTM is a spec share. If my Elliott wave is correct, it may make a small move up, then continue its trend down to a new low. (not much data).
Here is one answer to your correction. You would have to be vary wary of your trading period with VTM. The only price sensitive doc. is "Exploration Commences at Dangue". The other flags are to do with option Issue.
joea
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