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USD i decimating the Yen. Until Gold breaks the USD/Yen Correlation its chances of visiting $1,150 are very high. Let’s see what the labor report brings.
So far the dollar can’t even get back above the 200 DMA much less make a higher high.
Right. But, gold and oil are still under pressure. The jury is out until this changes.
pms seem to be turning, energy still under pressure. We will know for sure only when we see a clear uptrend develop on intra day charts.
In JDST $24 @ 5000, sold , 36.02 for a $60K profit went long NUGT yesterday at the low…Good week thank you Gary..
DXY dollar index just broke 50d ma.
Odds of dollar failed daily cycle has increased.
Gold needs to decisively clear 1,330-1,333 region, else risks a (iv), (v), to complete wave c correction.
Stars lining up for pms. Energy still under pressure despite dollar weakness. Not all asset classes reach a low at the same time. Surmise and extrapolation is fine, but one must wait for a turn to happen. Most destructive emotions are the urge to do bottom fishing at lows and scalping at tops. Just catch the middle consistently.
OIH complete retrace and near previous support.
Gold simply made an expanded flat correction in July and August, as it did earlier in May, making a lower short term low in each case (shakeout) before moving on to new highs.
is gold to the sky from here
it doesn’t matter from where but it will fly…
still waiting for hitting 200 dma
http://stockcharts.com/h-sc/ui?s=NUGT&p=D&b=5&g=0&id=p61361494841
everyone see 200dma now and manipulators will make sure to turn right before to trick everyone…
Gold’s correction will not end until FOMC the earliest – should a hike ensue, its correction would take an additional 4-week span.
A dead cat bounce has just started off the DCL today.
agree with that
Thanks Alex for cold shower ( :
GLD ETF GOLD tonnage is continuing huge amount decline, is it a dangerous signal?