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Showing posts with label golden cross. Show all posts
Showing posts with label golden cross. Show all posts

Wednesday, June 7, 2017

Technical chart for the GLD ETF showing trend towards higher prices as paper gold compliments the physical gold price

With gold's decent 1% move yesterday to nearly $1300, the positive technical indicators that began in late May have now moved into the paper gold markets as well.  And on June 7, the technical chart for the GLD ETF is now in line with the physical gold price charts, which signal a move towards even higher gold prices.

The 2017 high of $1,298.8 was set on Tuesday. Gold has been above a "golden cross" where the 50-day simple moving average moved above its 200-day simple moving average on May 22. A "golden cross" indicates that higher prices lie ahead. My monthly value level of $1,152.6 with a quarterly pivot is $1,233.2 and a weekly pivot of $1,273.7. My annual risky levels have been $1,660.1 and $1,674.1 since the beginning of the year. 
The weekly chart for the Gold Bullion ETF ($123.10 on June 6) is positive, with the ETF above its five-week modified moving average of $120.33 and above its 200-week simple moving average of $118.39, which is the "reversion to the mean" tested several times between the week of Feb. 24 and the week of May 19. Weekly momentum is projected to rise to $69.72 this week, up from $62.38 on June 2. Buy weakness to my weekly value level of $121.14. My quarterly value level is $116.89, with my annual risky level of $160.24. - The Street

Tuesday, May 23, 2017

Gold signals potential breakout as price once again achieves golden cross technical

In today's world, if all markets were freely traded then fundamentals and technicals would actually mean something to traders and investors.  However, with most major banks having been found guilty over the past five years of rigging almost every market, and the Federal Reserve assuring that equity markets will never go down any real extent due to trillions in cheap money, the once long-standing indicators of bullish and bearish sentiments are only relevant to the most ardent of investors.

But with that being said there are still thousands of analysts and traders who rely heavily upon technical analysis to make investing decisions and forecast market direction for a given asset class.  And on May 22 one of these technicals moved positive after weeks of price declines to have once again achieved the signal of a golden cross.

And the asset which has signaled this bullish sentiment and technical move is gold.

Gold is up nearly 10 percent this year and might be primed for more gains if a signal tracked by technical analysts triggered Monday is any guide. 
A small gain was enough to push the metal's 50-day moving average price above the average price of the last 200 days, forming what's known as a "golden cross" in technical analysis circles. This is seen as a positive signal that demonstrates an asset is outperforming so well in the short-term that it may reverse a longer term downtrend. - CNBC

Friday, March 3, 2017

After yesterday's manipulated takedown of gold price, divergence between London and Shanghai back to $28

As soon as London markets closed on March 2, bullion banks instantly dumped 1.15 million ounces (23,000 contracts) to smash down the price of gold using naked paper shorts.

The move appears to be in preparation for Friday's announcement by the Federal Reserve, but also because gold recently achieved a Golden Cross formation, signalling to technical traders a strong buy signal.

Silver Has Just Been Smashed 85 Cents to $17.70, and Gold Prices Have Just Been Sent Plunging to a Last of $1232. 
What Just Triggered the Massive Free-Fall Plunge? 
FED GOONS…giving cover for bullion banks to drop $2 BILLION in paper silver (thats over 23,000 contracts, or 1.15 MILLION OZ) as soon as London closed. - Silver Doctors
In the meantime this artificially manipulated takedown of the gold price was not recognized over in China, where the difference between the PM Gold Fix and Shanghai and the AM Gold Fix in London for March 3 is now back up to $28.

Shanghai PM Gold Fix - March 3 2017

London AM Gold Fix - March 3 2017

Sunday, February 12, 2017

Gold and Silver set to take off even as the undisputed King of Commodities forecasts worst economic problems of a lifetime

On Friday silver crossed back over $18 per ounce for the first time since November as the precious metal complex has been even stronger at the start of this year than it was 2016 following identical rate hikes in December by the Federal Reserve.  And now that gold has achieved a vastly important technical indicator by initiating the highly positive Golden Cross, prices for metals are fueled for takeoff at a time of vast uncertainty, and where Jim Rogers, the undisputed King of Commodity trading, is forecasting economic problems so dire that they will be the worst in our lifetime, and consequently people will perish.

...get prepared because we're going to have the worst economic problems we've had in your lifetime or my lifetime and when that happens a lot of people are going to disappear. 
In 2008 Bear Stearns disappeared, Bear Stearns had been around over 90 years. Lehman Brothers disappeared. Lehman Brothers had been around over 150 years. A long, long time, a long glorious history they’ve been through wars, depression, civil war they've been through everything and yet they disappear. 
So the next time around it's going to be worse than anything we've seen and a lot of institutions, people, companies even countries, certainly governments and maybe even countries are going to disappear. I hope you get very worried. 
When you start having bear markets as you I’m sure well know one bad thing happens and another bad thing happens and these things snowball just like in bull markets good news comes out then more good news comes out the next thing you know you're five or six or seven years into a bull market. 
Well bear markets do the same thing and so we have a lot of bad news on the horizon. I haven't even gotten to war. I haven't even gotten to trade war or anything like that but you know things do go wrong. - Microvoices via Zerohedge

Friday, March 4, 2016

Gold makes it back to Bull Market status

It has been a long five years, but for the first time since it reached an all-time high of $1940 in 2011, gold has officially returned to a bull market on March 3.

Gold prices have climbed 21% since their December lows, and last week moved over its Golden Cross technical.

This move into bull market territory has also not been lost on the mainstream, where J.P. Morgan issued a Buy call for gold yesterday as well, and to diversify out of stocks into the precious metal.

Saturday, February 27, 2016

Germany's biggest financial institution Deutsche Bank tells investors to buy gold

Was it prudence or capitulation that led Germany's largest, and invariably most insolvent financial institution Deutsche Bank to tell their investors on Feb. 26 to buy gold?  But either way this recommendation could not have come at a better time.  This is because two days ago gold hit what it known as a 'Golden Cross' on technical charts, meaning the trend for prices is upwards and headed towards a strong bull market.

And perhaps most importantly, Deutsche Bank stands on the precipice of not only becoming bankrupt themselves, but they have the potential to take down many major banks in Europe and the United States due to their $70 trillion in derivative exposure.

Buy gold as “insurance is warranted” Deutsche Bank have advised in a note issued today.  
The embattled German bank has said that rising economic risks and market turmoil mean investors should buy gold for insurance.
Since the beginning of the year gold is by far the market's best performing asset, and in a recent look at historic trends is the best start for a year since 1980 when it completed a massive bull run from $35 per ounce to $850 an ounce over the course of a decade.

Wednesday, October 14, 2015

Dollar reaches a nexus as death cross points trend downward for foreseeable future

Back in March, the dollar was the most wanted currency in light of the Greek crisis, and ongoing currency wars raging between dozens of countries.  In fact, the U.S. reserve currency was perceived as such a safe haven that it sat at over 100 on the index, with nations moving large amounts of their currencies into the dollar to hedge themselves from local and geo-political turmoil.
But as the U.S. markets peaked in May, and began a slide downward over the summer, trust in the dollar has waned, especially as the Chinese Yuan began to take market share in global trade.  And on Oct. 14 the dollar reached a disturbing nexus that could foretell an even greater trend downward as it created a death cross for the first time since 2013.