Gold about to erupt, page-47

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stokdog

6,119 Posts.

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24/02/16

11:17

Post #: 17101768
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Originally posted by AverageJoe ↑

The gut feel tells me there is continuation momentum with that symmetrical triangle breakout but the weekly candles tells me to beware hanging man, a potential second one in the making consecutively this week. Taking the context of the overall weekly trend, we are still at a crossroad between debating if this is indeed a big push off the low with the confluence trendline + resistance break in addition to a cup and handle formation with the handle in the maturing stages.

The technicals on different TF suggests $1191.77 level is the battleground that it MUST hold to make a new base before the next leg up. Currently because there are 2 moving parts in this equation, the other being AUDUSD, the current XAU/AUD move is further complicated by the IOP holding thereby give support to the AUD and since XAU/AUD is at very elevated levels, I think that move has risks of unwinding.

It does not appear to be so in the gold sector today so my focus has already been from day 1, only betting on the low cost low debt producers and not expect to make the bigger gains from an exponential margin expansion from those with not much margin starting point. Capital preservation foremost. I am conservative in a bear gold trend in the USD quote.

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AJ

I see the big players like the Germans positioning themselves to stock up there gold reserves. The currency situation isn't looking good.

http://www.*.com.au/germany-transfers-210-tonnes-of-gold-back-to-the-country-2016-1
2 Upvote

0 Great analysis

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Gold about to erupt, page-47

Top Stories

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Infini soars 50% as company reveals it could’ve just made uranium history – redefining what it means to be “high grade”

Nanocap Middle Island Resources kicks off Barkly copper-gold drill run – a potential IOCG-style NT project

Week 27 Wrap: ASX hits all time high; CBA shares' two realities; US inflation hits 3% ahead of China plenum

SKS Technologies wins US$90M award to supply power to international hyperscale data centre in Melbourne

ASX hits all time high out the gate on Friday trades following bullish US inflation data

Immutep reports strong response rate from immunotherapies treating carcinomas

Almonty locks in govt agreement for tungsten oxide plant in South Korea

Nimy to raise $1.21M to explore 'newsy' WA targets

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