Gold

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:




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The Gold-Bug-Index:

DAILY:



WEEKLY:



MONTHLY:




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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