Posts Tagged ‘Gold Chart’

Gold Chart Weekly Updated – Taking Some Profits

Gold Chart Weekly Updated – Taking Some Profits

Courtesy of Jesse’s Café Américain

Gold bullion is nearing our intermediate price objective for the breakout which we have been following since US$1,020 per ounce. Here is the updated chart. Please note that these chart formations set minimum measuring objectives, but not ‘tops’ as in limits.

Trading discipline would suggest taking the initial investment off the table here, but let at least some, if not most, of the trading profits run. The daily chart has a higher objective of around US$1,250 and we may very well see an intra-week push up to that level before the end of the year.

Tim and Ben seem determined to inflate an asset bubble, and a continuation into the year end and beyond is certainly not out of the question. The Fed established its repuation for recklessness in the bubble which they inflated from 2003 to 2007, which manifested in stocks and housing. Have they learned any lessons? It seems like only new ways of doing the same old things, and on a grander scale. Larry and Ben have not had an original thought since 1994, and Timmy is a ‘useful pair of hands.’

We are entering the period when we would start to anticipate a pullback and consolidation, at least, if not a correction in what has been an extraordinary run. We would prefer this, than a parabolic high. But we have to emphasize that the formation on the charts is a measuring objective, a target if you will, but not necessarily a top.

Mitigating our outlook is the apparent attempt by the US monetary powers to inflate the equity bubble, possibly into year end. Otherwise the fundamentals on many of the financial instruments are looking a bit frothy.

While we do not touch our long term metals positions, as we have not done since 2001, we will vary the trades and leverage as the intermediate situation indicates. But it should be clear that our trading suits our particular age and outlook, and financial condition and needs, and quite frankly, nerves.

And our nerves are getting old, and the markets in general seem a bit ‘on the edge.’ Le Patron’s capacity for risk tolerance is not as vibrant as in day’s long past. Although we do confess to a restless desire to short the US equity market, and waiting…
continue reading


Tags: , ,




Gold Smashes Through The Roof!

Gold Smashes Through The Roof! (GLD)

Courtesy of Joe Weisenthal at Clusterstock

Behold, gold’s surge past $1140/oz. (Chart via Kitco)

 


Tags:




Long Term Weekly Gold Chart Targets 1275

If you missed my enlightening interview with Jesse, click here. – Ilene

Long Term Weekly Gold Chart Targets 1275

Courtesy of Jesse’s Café Américain 

Now that gold seems to have successfully broken out from its continuation pattern (ascending triangle or inverse H&S) we should be able to chart its targets more precisely than the chart from 24 September that at least successfully projected the breakout.

If there is a major liquidation event, such as an equity market dislocation, gold will likely be hit as well, but will provide an exceptionaly buying opportunity and would historically rebound more sharply than equities and most other investments.

As always, this is a forecast with some probablities of success, rather than a prediction. It will therefore be subject to change, and will meet with a variety of success, or not.

Basically, the ascending triangle calls out 1275 and an inverse H&S targets 1300ish. A confirmed breakdown below 1000 deactivates the formations. We will know more about the first pullback when we see how far this current leg goes. It has moved much more quickly so far than most have imagined, but the short term trend is quite apparent on the chart.

gold chart

 


Tags: ,




 
 
 

Zero Hedge

EU Walks Back Embarrassing Claim Of 150,000 Russian Troops Near Ukraine Border

Courtesy of ZeroHedge View original post here.

Authored by Dave DeCamp via AntiWar.com,

The European Union had to correct a claim made by its foreign policy chief, Josep Borrell, concerning Russian troops near the Ukrainian border. Borrell told reporters on Monday that there were "over 150,000"&nb...



more from Tyler

Phil's Favorites

A Trader's Federal Lawsuit Against JPMorgan Chase Offers a Window into the Crime Culture at the Five Felony-Count Bank

Courtesy of Pam Martens

Jamie Dimon, Chairman and CEO, JPMorgan Chase

Donald Turnbull, a former Global Head of Precious Metals Trading at JPMorgan Chase, has filed a doozy of a federal lawsuit against the bank. Turnbull worked on the same JPMorgan Chase precious metals desk that was deemed to be a racketeering enterprise by the U.S. Department of Justice when it handed down indictments in 2019. This was the first time that veterans on Wall Street could recall employee...



more from Ilene

Biotech/COVID-19

No, vaccine side effects don't tell you how well your immune system will protect you from COVID-19

 

No, vaccine side effects don't tell you how well your immune system will protect you from COVID-19

It’s not a bad sign if you feel fine after your COVID-19 shot. Luis Alvarez/DigitalVision via Getty Images

Courtesy of Robert Finberg, University of Massachusetts Medical School

If someone gets a headache or feels a bit under the weather after receiving a COVID-19 vaccine, it’s become common to hear them say something like “Oh, it just means my immune system is really working hard.” On the flip side...



more from Biotech/COVID-19

Digital Currencies

A Unifying Theory of Everything

 

A Unifying Theory of Everything

Courtesy of Scott Galloway, No Mercy/No Malice@profgalloway

This week, New York Magazine let me go full stream of consciousness on … everything. Their editor pitched me the idea to articulate a unifying theory on “this whole crazy techno-fiscal moment.” Problem is, while I understand crypto better than 99 percent of people, I do not understand crypto.

On Wednesday, crypto pioneer Coinbase listed shares on the NASDAQ, and closed the day at an almost $100 billion valuation, making it nearly as valuable as Goldman Sachs. Coinbase’s big day made a bunch of wealthy people wealthier, but it also poked several bears — ...



more from Bitcoin

ValueWalk

Managing Investments As A Charity Or Nonprofit

By Anna Peel. Originally published at ValueWalk.

Maintaining financial viability is a constant challenge for charities and nonprofit organizations.

Q4 2020 hedge fund letters, conferences and more

The past year has underscored that challenge. The pandemic has not just affected investment returns – it’s also had serious implications for charitable activities and the ability to fundraise. For some organizations, it’s even raised doubts about whether they can continue to operate.

Finding ways to generate long-term, sustainable returns for ...



more from ValueWalk

Chart School

Money Printing Asset Price Targets

Courtesy of Read the Ticker

The FED giveth and the FED taketh away. Right now the FED is giving a lot into 2022 US Mid Terms. 

Unless the FED breaks the market, here are some BRRRRR asset price targets, not normal price targets but money printing adjusted price targets. 


BITCOIN 175,000 to 500,000 USD

Click for popup. Clear your browser cache if image is not showing.





DOW to 40,000 to 50,000

Click for popup. Clear your browser cache if image is not showing.



More DOW

Click for popup. Clear...



more from Chart School

Politics

Colombia gives nearly 1 million Venezuelan migrants legal status and right to work

 

Colombia gives nearly 1 million Venezuelan migrants legal status and right to work

Venezuelans wait at the Colombian border to be processed and housed in tents in 2020. All Venezuelans now in Colombia will receive a 10-year residency permit. Schneyder Mendoza/AFP via Getty Images

Courtesy of Erika Frydenlund, Old Dominion University; Jose J. Padilla, Old Dominion University...



more from Politics

Kimble Charting Solutions

Will Historic Selloff In Treasury Bonds Turn Into Opportunity?

Courtesy of Chris Kimble

Long-dated treasury bonds have been crushed over the past year, sending ETFs like TLT (20+ Year US Treasury Bond ETF) spiraling over 20%.

Improving economy? Inflation concerns? Perhaps a combination of both… interest rates have risen sharply and thus bond prices have fallen in historic fashion.

Today’s chart looks at $TLT over the past 20 years. As you can see, the recent decline has truly been historic. $TLT’s price has swung from historically overbought highs to oversold lows.

At present, the long-dated bond ETF ($TLT) is trading 7.8% below its 200-...



more from Kimble C.S.

Mapping The Market

Suez Canal: Critical Waterway Comes to a Halt

 

Suez Canal: Critical Waterway Comes to a Halt

Courtesy of Marcus Lu, Visual Capitalist

The Suez Canal: A Critical Waterway Comes to a Halt

On March 23, 2021, a massive ship named Ever Given became lodged in the Suez Canal, completely blocking traffic in both directions. According to the Suez Canal Authority, the 1,312 foot long (400 m) container ship ran aground during a sandstorm that caused low visibility, impacting the ship’s navigation. The vessel is owned by Taiwanese shipping firm, Evergreen Marine.

With over 2...



more from M.T.M.

Promotions

Phil's Stock World's Weekly Webinar - March 10, 2021

Don't miss our latest weekly webinar! 

Join us at PSW for LIVE Webinars every Wednesday afternoon at 1:00 PM EST.

Phil's Stock World's Weekly Webinar – March 10, 2021

 

Major Topics:

00:00:01 - EIA Petroleum Status Report
00:04:42 - Crude Oil WTI
00:12:52 - COVID-19 Update
00:22:08 - Bonds and Borrowed Funds | S&P 500
00:45:28 - COVID-19 Vaccination
00:48:32 - Trading Techniques
00:50:34 - PBR
00:50:43 - LYG
00:50:48 - More Trading Techniques
00:52:59 - Chinese Hacks Microsoft's E...



more from Promotions

The Technical Traders

Adaptive Fibonacci Price Modeling System Suggests Market Peak May Be Near

Courtesy of Technical Traders

Our Adaptive Fibonacci Price Modeling system is suggesting a moderate price peak may be already setting up in the NASDAQ while the Dow Jones, S&P500, and Transportation Index continue to rally beyond the projected Fibonacci Price Expansion Levels.  This indicates that capital may be shifting away from the already lofty Technology sector and into Basic Materials, Financials, Energy, Consumer Staples, Utilities, as well as other sectors.

This type of a structural market shift indicates a move away from speculation and towards Blue Chip returns. It suggests traders and investors are expecting the US consumer to come back strong (or at least hold up the market at...



more from Tech. Traders

Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



more from Lee

Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

http://www.insidercow.com/ more from Insider





About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

Learn more About Phil >>


As Seen On:




About Ilene:

Ilene is editor and affiliate program coordinator for PSW. Contact Ilene to learn about our affiliate and content sharing programs.