Gold falling too

Discussion in 'Metal Futures' started by mnikolic, Mar 4, 2010.

  1. mnikolic


    According to a few models of mine, Gold (COMEX:GCJ0) is expected to fall throughout the day (March 4) and find support in the early hours of March 5. The projection remains relevant as long as the price action is contained within the immediate resistance level of $1142.20.


    Key support/resistance levels (in $):
    1136.90, 1131.70, 1126.50, 1121.00, 1115.60
    1142.20, 1147.50, 1152.70
  2. mnikolic


    Oh crap just realized I posted this into stocks. If someone could move it to futures/commodities it'd be much appreciated.
  3. You posted like 10 resistance and support points
    whats the use?
    gold has resistance @ 1500
    but it also has resistance @ 1300
    and 1250
    and 1100
    and 1050
    and 1030

    good luck using those numbers.
  4. Sisko7


    Marko jeli ti radis za neku firmu

    Ovi tvoji signali.........zasto ih stavljas na Internet

    Traders koji prave pare don't do what you do.

    I guess you are trying to become the new EliteTrader .com
  5. mnikolic


    I'm giving a regional perspective. If Gold decisively breaks one support, it often goes to another. That's what the levels are for. But if u prefer just a single S/R level, that's your choice.
    Oh, and I'm not sure if you've been following or just criticizing, but Gold did fall, and it bounced off the forecasted $1126.5 support level.

    I'm also attaching a projection chart, made at the time of my original post , which I don't usually do for general public.

  6. Which is it? Viva Serbia or Viva Croatia? :confused:
  7. mnikolic


    lol! Viva Ontario! alright you're right that doesn't sound quite as cool.


  8. Sisko7


    Let me guess, my answer would impact your opinion like this.

    Serbs = bad people, they kill other people, CNN says so

    Croats = Some good Some Bad. Though they did fight on Hitler's side.


    The real answer is, THEY ARE ALL SCUM :D :D :D

    Just like anglos, just like Jews, just like arabs

    I look around and honestly I think we are all scum.
  9. promagma


    So far, looking good.

    What do you analyze to make a forecast?
    Price? Price+Volume?
  10. mnikolic


    I build models, import them into neural nets and train them to specific markets. Models are typically comprised of technical, cyclical, and fundamental components, specific to each market. It takes a lot of effort (and patience) but the end result can be quite gratifying. I rarely use your traditional indicators as they lag lag laaaaaaaag.


    #10     Mar 4, 2010