3 Year Gold Up-Move?

Discussion in 'Commodity Futures' started by easymon1, Sep 13, 2019.

  1. easymon1



    3 Year Gold, Metals Up-Move?

    Gold long term breakout comments of Greg Weldon:

    Sep. 10, 2019 2:24 AM ET

    " . . . If you get gold below $1,370, it's a gift. Your first major Fibonacci is $1,407, and you have a low just under there, just under $1,400. It's kind of where we ended up getting out and getting into silver and platinum. So I would think if, frankly, you see a 13-anything print, you're even potentially backing up the truck here to buy gold.

    . . . And in terms of silver, it might have a little more of a downside, but I'm telling you, I mean there's solid, solid support at $17.25-17.50, so in any... anything really below $18 and when you get down to $17.50. It may not last real long down there.

    . . . Turning to platinum, the latest precious metal to break out of a long consolidation base, touched the $1,000 level for the first time since early 2018. Platinum prices are now settling down at $958, but are still registering a gain of 2.5% this week.

    And finally, palladium has regained its premium over gold on the heels of a 1.0% weekly advance. Palladium prices currently come in at $1,552 per ounce.

    Looking ahead to next week, metals investors should brace for a continuation of volatile market conditions. We’re seeing some near-term overbought signals, coupled with relative weakness in gold and silver mining stocks, which sold off hard on Thursday.

    For long-term gold and silver bulls, pullbacks down to more sustainable trend lines would be welcome developments.

    Volatility may begin to ratchet down ahead of the Federal Reserve’s policy meeting on September 17th-18th.
    Then, as is the usual pattern, markets will likely move in reaction to the Fed’s decision. It is widely expected to be a quarter point rate cut, and based on today’s weak jobs report, that anticipated cut appears to be solidifying."

    Weldon's thoughts on mining shares "barrick newmont in top 5 - 10, kinross, sgsvf sabina silver techincal price action, anglo ashanti, low price, vs "accumulators of assets" power uptrends"



  2. Cannon_Trading

    Cannon_Trading Sponsor


    Monthly chart.
  3. dozu888


    the front page is now crowded with retard articles.
    easymon1 likes this.
  4. easymon1


  5. easymon1


    silver gap wkly

  6. maxinger


    neck line is at 1550

    that level has been tested many times
  7. easymon1


    gc-2019 0921 d.png
    Cannon_Trading likes this.