good place to go long on gold if you like the shiny stuff...

50 day ema, and the channel support trendline both at $1246.....this may bounce a few pips/dollars beforehand, as it seems to like a bounce just shy of teh 50 day ema.....

Stops below $1246...

ATB, dyor.
Trendfriend.

Looking at Thursday and Friday's action on gold I think we are ready for that 'washout' the UBS report keeps reminding us of (for those who read it). They've suggested 1200, 1190 and 1164 as targets. There are still lots of bulls so I think it's going to be a very bumpy ride down but as DXY is now bouncing I think (hope!) it's going all the way to 1164'ish.

Something to consider is that gold started its meteoric climb on the first day of January - while the big boys were still enjoying their New Year holidays. They'll want to drive it as low as they can to load up before they let it fly to mid 1300's again.

That wick on the weekly candle is going to take a lot of bull energy to climb above and the only way to get that is to drop it nice and low first.

Once it drops below 1208 we'll know the direction for sure.

I've got gold in this bullish channel.
Corrected typo's

---

This charts from 19 Apr.
uk.advfn.com/p.php?pid=chartscreenshotsh...jVC8cqIx/3ZDBNX5Qr8=

Look for longs at the bottom of the channel, short at the top.

Top of the channel and target is around $1300+
Bottom around $1225.

If it breaks below the channel, it could be ready for a decent p/b.

Looks very bulliah atm, and as long as it's stays in the channel.

Trendfriend.

I've got gold in this bullish channel.

This charts from 19 Apr.
uk.advfn.com/p.php?pid=chartscreenshotsh...jVC8cqIx/3ZDBNX5Qr8=

Look for longs at the top of the channel, short at the top.

Top of the channel and target sia round $1300+
Bottom around $1225.

If it breaks below the channel, it could be ready for a decent p/b.

Looks very bulliah atm, and as long as it's stays in the channel.

Trendfriend.

Gold going well today.

Looks to be breaking out.

Hi Trendfriend

I think it will break up for the simple reason that nothing in the real world would support a big drop below 1200 right now. I've got just about everything invested in gold funds etc until the end of the decade or more as I think it will way out perform equities in that timeframe. But I like to play with some in my spreadbet account so I watch it daily and really appreciate views such as yours on here.

$1300 here we come!

Learning

Hope so trendfriend

Went long on a few gold produces a little while back!

Nearly Learning!! held 1200 brillaantly well.....
Come on Shiny stuff, you can do it

Trendfriend.

Hi Learning,

This looks to have retraced much of its gains. It's currently in a area of support.
1200 & 1990 are the next supports, its currently holding on to the 10 day ema and a short term trendline below.
If these area's fail to hold this could well go down to 1150, so lets see....
I think 1200 and 1190 should be good support.
If it breaks out of what looks to be a bull flag.(not a bull flag until it does break out) The target would be the length of the flag pole, so 100+ points.

This is a interesting article on Gold which someone posted on another forum. interview with Dan Norcini
www.moneymetals.com/podcasts/2016/02/19/...ld-technicals-000831

ATB.
Trendfriend.

Hi Trendfriend

Would you say the low for that pennant is about 1210 as of Monday - if it breaks down it could still be a bull flag but could go down to 1130'ish before it turns up again. This week's UBS report suggests gold could still re visit 1130-1150 - I'd just like it to go up to 1300 or more first!

If it breaks up out of the pennant next week, what target price would you project?

Thanks

Learning

Bull Flag or bull pennant?? take your pick.

Looks like gold has still got more to rise imho...
Regards
Trendfriend.

Target hit


dl.dropboxusercontent.com/u/4899609/gold2ndfeb2016.png

Gold looks bullish. Its broken and retested the 123 low breakout recently. Id target the 1133 area as thats the 200em area currently

dl.dropboxusercontent.com/u/4899609/gold20thjan2015.png

Looks like a breakout of the flag today.... and should continue higher
Regards,
Trendfriend.

I've had this on my radar for a while but missed it doh !!!

I had the break down at 1088 are we both right or was I wrong lol (learning still)

Where would you enter ? I guess we will retest the breakout area

Cup and Handle or Bull flag??
1095 looks to be the breakout point...

Regards,
Trendfriend

1400 target or so then new lows

This is the only gold chart i can find for some odd reason. I can only go back as far as 2010.
based on this.
Support... 1051
Resistance..1091

There is a 123 low formation on this currently. So entry would be on a break out past 1091 with stops below 1070 if this activates.


dl.dropboxusercontent.com/u/4899609/gold9thdec2015.png

AdeMcG,
Seems you disappeared after kicking things off? Lol
Ta
G

AdeMcG,
From the thoughts of US rates going up, $ going stronger, I expect commodities to go lower.
From charts,if it doesnt clear 1085$ , its heading towards 1047$,or 1027$ then mayb to sub 1000$.

Charts attached.
Ta
G

to kick things off...where do you see it going ?

Remo et all

Could you guys please provide any charts and comments on GOLD please.
Ta
G

Food4thought,

I notice your Brent and ftse100 charts, thanks

What are your thoughts on gold?

I did a chart based on closing prices and believe it has broken out?

I'm way too much of a novice to post a chart, but if you look at the weekly you can see where gold may stop (short term) and retrace a little.

You'll see the MA50 and a line of oblique minor resistance meeting around 1181-1182 this week. I would expect price to overshoot to maybe 1187 and then retrace. The 100% fib from the recent low of 1098 is also at 1189 so a few hurdles at the same point.

Assuming it does, what fib retracement percent should we expect (on gold) from a 1185-1190 short term top?

Hope this helps and would love some feedback as I'm still learning!

This is from IG

i make a 1,2, 3 low @ 1167??
My chart is not the best tbh...maybe someone can confirm that number??
Looks ok to mo, so i'm long with tight stop...

Trendfriend.

Looks like gold is breaking out today.

It needs a close above 1144 on the weekly.



close up

Looks like gold is breaking out today.

It needs a close above 158.

Haven't been keeping tabs on gold recently however I do have a long silver position, which on a weekly view is shaping up nicely.

dl.dropboxusercontent.com/u/24866576/Mar...0-47-49%20Silver.png

Gold - could be the start of a breakout, but early days and heading into a load of resistance between 1200 - 1220.

dl.dropboxusercontent.com/u/24866576/Mar..._20-50-22%20Gold.png

Cheers,
M.

It has been a while since my last Gold view, so whilst we await a more authoritative technical view from our resident experts (come on guys, you know who you are ), here's my view:



dl.dropboxusercontent.com/u/15745438/Trading/GOLD-24-03-15.png

It could go either way to be honest; and the way DXY was bought into after Yellen's smack down, it wouldn't surprise me if Gold gets spanked again; but there's a case a basing range is forming for bounce.

As always, I'm happy to receive feedback.

p.s. One thing I can't get "cheap" any more is gold bullion. Gold in EUR / JPY terms is up up 20-25%, in GBP terms it is up some 7-10%, of its lows. The same goes for gold against any trade-weighted Dollar component; except the USD itself.

Talk about the USD de-coupling from every single asset class there is!

Some thoughts:

The weekly:


dl.dropboxusercontent.com/u/15745438/Trading/GOLD-weekly.png

The daily:



dl.dropboxusercontent.com/u/15745438/Trading/GOLD-daily.png


My summary?

$1,121 (or thereabouts might be a strong support area - arguably, the area where the foundation for the mammoth spring board was laid).

Furthermore, whilst gold miners do hedge, the mean break-even for them collectively is around $1,200, so this will be a very interesting period for HUI as well as PM prices and ratios (w.r.t. Silver and Oil).

The Swiss initiative later this month, whilst starting out heavily in favour of a "YES" vote, suddenly looks to favour the "NO" group, because the SNB can now turn around and tell the laymen: "see? look what happens when you hold this useless metal", totally ignoring their role in doing real damage in partnership with Gordon Brown, by selling Gold at around $200 (forming the "brown bottom").

Anyway, digressing here... back to the technicals: The daily chart shows an aggressive band downwards that needs to reverse hard for any meaningful upside in my humble opinion.

A rally around $1215-$1220 should be bullish, but that's a long way off right now; so for the time being, possible further weakness until it becomes a crowded trade.

Disclosure: I'm (eternally!) gold-biased, and happy to accumulate physical bullion at these prices, but trading wise, be nimble folks, on either direction.

nice trade remo, bounce at 1181 and 16 USD up.

i still think it has to back test that 1000-1015 break out.

will take time, but that will be an amazing trade if it gets there.

even the 1181 ---> 1040 if it breaks down.

need balls of steel though.

Be careful there Remo. Descending triangle, break on third attempt? Precious metals are in real trouble lately - silver down 3%+ yesterday.

possible triple bottom ???
Im going long at 1181 on a first attempt basis with a tight stop of 5 pips.


dl.dropboxusercontent.com/u/4899609/gold30sept2014.png

Im long from the trend line. Sorry for the delay in posting had to pop out
Stops were below 1276..


dl.dropboxusercontent.com/u/4899609/gold12thmay2014.png

Gold testing short term trend line currently..


dl.dropboxusercontent.com/u/4899609/gold24march2014.png

I think gold is heading towards $1430 very quickly. Also found these ratio charts to help catching tops and bottoms in gold:

www.marketoracle.co.uk/Article44724.html

Gold rebounded on a symmetry trend line which has been a very strong support.

Gold looks like its breaking out.

dl.dropboxusercontent.com/u/4899609/gold12thmarch2014.png

dl.dropboxusercontent.com/u/7238706/Spot%20Gold%20%28-%29.png
This is the same chart as posted last Jan 24th and I see no reason to alter it. The resistance at 1348.6 is holding well and, provided 'Vlad the Bad' learns some manners, a move South shouldn't be far off.

Hi All,

seeing there's been some interest in gold on chat, here are my thoughts, short term expecting gold to pullback (b) into 1314 - *1270* zone for a medium term bounce (c) in a Primary B wave.


dl.dropboxusercontent.com/u/40497882/Spo...%20%2007%20March.png



all imho, dyor

WS

Not strictly TA (there is some), but this is Yardini's take on GOLD.

Libero, my hourly chart looks like this....


dl.dropboxusercontent.com/u/7238706/Spot...d%20%28hourly%29.png

...long to 1260, down to 1220ish, then up to 1280ish.

It's all a bit 'ishy' really, but I'm sure you get the idea

Further to my previous post, I've decided to put some charts up with varying time frames on GOLD and the Gold-Bug Miners Index (HUI)....

On GOLD, nothing out of the ordinary:

HOURLY:



DAILY:



WEEKLY:



MONTHLY:

---

The Gold-Bug-Index:

DAILY:



WEEKLY:



MONTHLY:

---

Finally, and just for fun, a little observation from the last 6 months (on Gold)...



19 of the past 26 Fridays (73% of Fridays within the past 6 months) were positive days for gold - this can be attributed to short-covering of course.

More remarkably however, is that 11 (in fact, arguably all 12 depending on data providers and time zones!) of the last 12 Fridays have all ended with an up day in gold.

" A minor but curious detail" as Dr Elder might say

A good "Fish 'n' Chip" trade the way I see it

Right, that's it for me. I'll be posting less for the next few weeks due to work and academic commitments, but will be around and will continue to post UBS and other reports when possible!

Have a great weekend all.

Howdy folks,

Not strictly gold, although I will try to post the state-of-play (time-frames) this evening; for now let me hand over some links which might be of some use to Gold / Mining patrons:


Here's a HUI (Gold Bugs) Monthly technical View:



My personal observation is that we're very much part of the new-new-new 'normal', and indicators (though pre-mature) point towards an upturn. Now remember, this is the monthly chart, so it is a slow burner.

The blue line running across the candle-stick patterns is the average price of gold during the months that pass.

Also, a couple of excellent illustrations on Gold and Miners, courtesy of ZeroHedge:

1. Which Gold Miners hold the most Supply (you'd have to zoom into it to read it!)



2. Gold Miners, Production versus Undeveloped mines:



Source, and analysis here:


Good luck people!

Hi Libero,

Really appreciate you taking the time to help out. I will check them out now and let you all know how it goes.

ThanKS AGAIN

My view on gold. There appear to be two options.
(i) The recent low at 1182.50 was a double bottom of an ABC decline from 1921.10 and a test, and break, of 1433.80 will validate this theory.
As the decline from 1796 to 1180.5 was almost a 161.80% extension of the rise to 1796, I think option (ii) is the more likely...

(ii) The decline from 1921.10 is a five way impulsive decline: wave 1 finishing at 1527.10; wave 2 at 1796.0; wave 3 at 1180.50; wave 4 at 1433.80; and wave 5 in progress, the options for which are demonstrated on the chart. The recent low at 1182.50 being completion of wave ((a)); wave ((b)) in progress with a target area of 1308.20 > 1337.6. We then have waves a,b, and c of ((c)) to complete wave 5. My favourite for this would be between 1020 and 990

I prefer this second view because there is stand-out divergence in wave 3 of 3; also, provided the RSI doesn't drop lower than 24.67, there is divergence between waves 3 and 5 to support the impulse.

First we need to complete wave ((b))..... or break out of 1433.80 to invalidate the impulse and validate the ABC....


dl.dropboxusercontent.com/u/7238706/Spot%20Gold%20%28-%29.png

Hi Fabba,

If you have access to NSYE stocks or options Exchange, then you can trade the HUI Gold Index I think.

Not sure if it is on AMEX or NYSE, but IG Markets offer both options as extras (cheap fees to be fair).

Good luck man, and hopefully this is on its second up-trend, having seemingly bottoming out again. (see below):

HUI Chart

Hi all,

Does anyone know where i can trade the HUI Gold index? I'm struggling to find a provider.

Any help welcome.

Thanks in advance.

Possible 123 low breakout on the daily chart of gold...
stops below the 2 point


dl.dropboxusercontent.com/u/4899609/GOLD13THJAN2014.png

Howdy Folks,

Here's a technical update for gold....


HOURLY:



DAILY:



WEEKLY:



MONTHLY:




Initial views:

* On the Hourly & Daily - Expect a bit of selling (I don't anticipate any heavy selling just yet), as we approach the top end of the Bollinger Band, and the RSI looks a bit heavy. Would be bullish if the down-trend line (in blue on the daily) is taken out @ ~ $1,280 (for now).

* On the weekly and Monthly - Note that the long term support lines have turned into resistance lines.

* If the long term resistance level is breached with conviction, then the first target - beyond $1,280 or so - would be $1,355 ish (based on 23.6% and the busy activity around this price).

Disclaimer: Just my view folks - and not trading advice!

Good luck folks!

CC: POG iii Board.