Looking at the daily chart of gold a T.D Combo is about to complete which is lining up with the Monthly MIDAS R1 Curve launched from the 2012 high. Momentum is also approaching overbought conditions while forming a bearish divergence. Look for opportunities to go short on the lower time frames. The projected target is the $1000 handle which gives this setup an amazing risk to reward ratio.
Hello, I see that sometimes you refer Martin Armstrong analysis. Does this projection take in consideration his analysis? Best regards.
Carl_G
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Hello, yes it does. However I have not purchased the 2016 gold report that he recently released. In regards to his statements and the correlation with Silver this analysis looks promising. Gold still have to make a lower low in the downtrend before going higher. The current move to the upside is just a high in the downtrend.
Carl_G
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Also if you are familiar with the COT Report, it is showing heavy selling on the institutional side as the push to the upside is running out of steam.
dario15
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Ok thanks. I am not familiar with the COT Report, but again thanks for the clue.
Carl_G
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Np :)
4XXXX
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Very interesting. Have you watched the last episode of Max Keiser on RT News? In the first half he speaks of how JPMorgan (who keep saying the XAU spike is not so) floods the markets with XAU futures that push the price down x50 to 1 ... and that one day the real demand will break this and the price will suddenly pop several hundered dollars.