Gold - Trend Reversal Right Now?

Hi,

Has everyone noticed the interesting spot Gold finds itself in at this moment (GC Futures, specifically)?

For the first time in an awful long time the SMA100 is crossing above the SMA200 at $1300, and I feel this may be a solid launch-pad for gold to rally higher.

Who knows for sure though, right? Only Captain Hindsight!

 

Guess a picture would help?

 

This is nonsense. If the jobs report is good next friday, gold will be down to 1250.

 

I've seen the golden cross, 50 sma across the 200 sma, tested out on gold from 1976 to the present and it's basically break even. I don't think there is an edge inherently in this pattern but I think it can be used profitably if you take into account other factors like sentiment and fundamentals.

 

looks just like it did at $1800 on the chart the last time it crossed.

 

Just another snake oil vendor, with an embedded advert to his site in his chart.

At least he named it correctly.

HINDSIGHT

 

Haha...

I think all vendors should be beheaded too. Only reason I posted a link to my blog is, I prefer writing when someone is reading.

The primary purpose of my blog is to serve as an archive of screen-recorded-highlights of scheduled + unscheduled news events. e.g.
Draghi: "Believe me... it will be enough".
I don't think historical charts capture the moment in the same way listening to the Squawk and watching the price ladders spring to life does.

As for why I posted about a "Golden Cross", it that's what it's called, it had been a very slow news day and so I had a bit more spare time to play with.

In the meantime I've received a PM from the site Admins telling me what I did was against policy, so I won't do it again. Unfortunately, if I cannot post links to my videos, I'm not sure how to communicate meaningfully on this forum.

I genuinely think my idea of a "video footage archive" is a useful one. The thought that I would charge money for it is wrong - it's just a hobby of mine.

 

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Nice uptrend,but 1 [one] year chart is bearish ;
most of the trends are up on gold, GLD.Especially UPtrends from 2 months-20 years+ more.

Having noted the probabilities, based on that;
I have seen better uptrends.Rebekah Saint song says '' on no ,,never let go thru the Hi thru the low''LOL.

Gold, GLD,Donchian channels are trending up also, most all time frames................................................................................................................................Wisdom is profitable to directNot a prediction