<b>Gold Price</b> is Going Higher :: The Market Oracle :: Financial Markets <b>...</b> |
<b>Gold Price</b> is Going Higher :: The Market Oracle :: Financial Markets <b>...</b> Posted: 12 Jan 2014 02:21 AM PST Commodities / Gold and Silver 2014 Jan 12, 2014 - 06:21 AM GMT Two weeks ago I wrote: "Gold Probably Has Bottomed", Last Week Gold Has Bottomed", and this week, "Gold Is Going Higher". Of course, there must be proof and the proof is in the Charts. Anyone who can predict for more than a few days, I don´t think they know what they are talking about. There is this Harry Dent Service you can subscribe to who says "Gold will go Up then down to $250 an ounce." He lost my following with that statement forever. Prices do undulate, however, in waves in a Mathematical Rhythm which according to the Elliott Wave Theory. Sometimes the Five Wave Theory works and sometimes it doesn't then the interpreter covers himself by subwaves, and if this happens and that happens. Well, the Theory seems to work if July 28th,2013 was indeed the bottom and retested in late Decemember 2013 with a confirmation on the last day of the year, December 31, 2013. When I first started doing this thirteen months ago, I could not get the MACD to coincide with the peaks and bottoms with the defaulted parameters given. So I set the MACD aside and worked with the Stoch RSI, Slow Stoch, %B, and got them to synchronize by manipulating the parameters with Fibonacci numbers which seemed to work ok. It was not perfect. Then I went back to the MACD which mean Moving Average Convergence Divergence which are variable moving averages set by the Technical Analyst. MACD seems to measure on a graph the Area between the Fast and the Slow Moving Averages which reflects the Maximum and Minimum Are in between the lines as we learned in High School Algebra II. So I went back to the MACD and set the parameters to Fibonacci numbers 8,13,5 and 13,21,8 etc and depending on the Time Frames from one mnute to weekly, I finally got all the Indicators to synchronize precisely and accurately. Then by sitting back from my screen about 1 meter away, I could see certain correlations and configurations which seemed to repeat themselves and were Consistently accurate. Here the MACD which I almost discarded, has become the Dominant, Number One Indicator which I watch. I found even though the Stoch RSI, Slow Stoch gave a Buy Signal with respective up crosses at 0.2 and 20, why was the Price still moving Down? This Lost Lots of $$ for some of my Followers, which I feel very bad about. Then I could see the MACD lines moving Up but why was the Price dropping. The Key was, the MACD lines had to move Above Zero on the MACD Indicator for the Price to start an Uptrend and this usually coincided with what I call the Surge Up and conversely the Surge Down. Bear with me, and you will see with the charts I have selected as Examples. And these will be Charts which prove that Gold is starting an Uptrend with the MACD lines breaking above Zero on the Shorter Time frames from 1min to 60min, and the Daily MACD is approaching Zero which, with follow through Buying, will cross above Zero and start a longer term Uptrend. This is really the only way you can measure this phenomenon is with Indicators and with the Correct Interpetation. I can sit here all day and put out Charts, but without the Precise Interpetation, they are Worthless and can give the observer the exact wrong direction to take. Back in the late 1960s and early 70s, I worked for Dean Witter as an Asst V.P. in Commodity Trading. We had very rudimentary computers and no software to support the above discussion. If you wanted a Chart, we did it manually after the close. John Murphy has produced everything which was lacking to make an Intelligent Technical Analysis of Price Movement whether it be stocks, commodities, interest rates, bonds etc. I congratulate, John Murphy and stockcharts.com for providing us with what I call the WEAPONS OF MASSIVE WEALTH. So see for yourself. I welcome feedback for this gives me many times a problem to solve and to enhance the results of my technical analysis. See for yourself and I welcome feedback at stemsmexico@gmail.com. From here South of the Border, I cannot visualize living in the U.S. ever again with Federal Reserve and the Dummies in Congress and Puppet Presidents. Maybe not Dummies, but do and vote how they are told to stay in office, line their bank accounts with wealth and not go the way of Pres. Abraham Lincoln and JFK and Bobby. Also, 80% of the food in the U.S. is tainted with Glyphosphate due to the Roundup Ready Monsanto seeds. You are eating Toxic Food. Please your opinion and feedback. I have more Info. Your great grandkids may be sterilized. Billy Gates is one of Them, New World Order Bilderbergs, One Percenter Elites. Cause for Alarm. Wealth is not worth this i.e. when your name is Rothschild and have to hide within your castle not able to walk in public. Oh Well, whatever works, More Power (pun) To You. GOLD IS GOING HIGHER and if isn't, see below if Gold & Silver are trending Down. Doesn't matter, Who cares? AS LONG AS WE MAKE MONEY..RIGHT? NUGT, DUST, USLV and DSLV..just Follow my Charts and go with the Trend. THESE CHART ARE LEVERAGED TIMES 3. DO NOT BE WRONG! These are teaching charts to show you How. Many Followers tell me, "This is the first time I have made money in the Market" or "I am making tons of $Money." THIS MAKES ME FEEL REAL GOOD. "Share and it will return packed down and overflowing." So my Pastor used to tell me. I am Sharing now waiting for the Return Overflowing bit. My primary concern is that You make lots of Money. Good Luck and God Bless $GOLD WEEKLY CHART Pg 15. SIX YEARS stockcharts.com, PublicChartList, EasyMoney Clayton Tom,stemsmexico@gmail.com Daily Chart from Sept 2012, Historical High, to Now, Intermediate Bottom GDX 15 min Pg 21 at stockcharts.com, PublicChartLists, Easy$$ Clayton Tom stemsmexico@gmail.com NUGT 15min IS THE 3X FUNCTION OF GDX gold miners Volume Candle format Buy signal was before the close of the Trading Session the Day Before..PRECISE see Green Arrows. Front Runners. Join The Manipulaters give you a chance DUST IS THE ANTITHESIS OF NUGT.. if GOLD is trending Down, best to be Long Dust..15min Chart An Alert Trader will make very Profitiable Trades just using these Charts, Pg 17, stockcharts.com PublicChartList, Easy Money Clayton Tom AS GOLD GOES, SILVER GOES. USLV X 3 15min There is a lot here. Study This Chart Pg 18, stockcharts.com, Public Chart List, Easy $$, Clayton Tom Ok What if Silver is Trending Down: DSLV 15m Pg 18 stockcharts.com, Public Chart List, Easy $$, ClaytonTom About the Author, Using my system at stockcharts.com, Public Chart Lists, Easy $$, by Clayton Tom, you will see the rest of my work in reference to Gold, Silver, NUGT, DUST, USLV, DSLV, etc SPX, $VIX, VXX, UVXY, etc UPRO, SPXU, ERX, ERY, DIG, DUG, FAS, FAZ, TNA, TZA, DRN, DRV and Winners of 2013, i.e. Pg 6, AAPL, GOOG, AMZN, PCLN, NFLX, FB, HLF (Hello, Mr Ackman) etc. You may ask me to do an Opinion based strictly on the Indicators I use. stemsmexico@gmail.com. I am an ex-broker, Asst. V.P. in Commodities with Dean Witter back in the late 1960s and early 70s and went through the exact training course as depicted in the movie, "Seeking Happyness" with Will Smith. I am also a retired Pharmacist via Cal Berkeley, U.C. School of Pharmaceutical Science and the mandatory Courses in Math has enabled me to understand the Derivation of the Indicators used to make this almost a perfect Technical means of precisely spotting Tops and Bottoms as a function of the Price Fluctuations of Stocks, ETFs, Currencies, Commodities and Financials Bond Instruments. I also lack just one semester for my MBA in Marketing at Univ. of Cal . SF State University. Retired after 25 years in Retail Pharmacy, rated as the most Competive Independent Pharmacy Chain in the Nation by the trade journal Pharmacy Times, 1995. Was the first Pharmacy in the U.S. to promote Generic Drugs in the early 1970s. By Thomas Clayton © 2013 Copyright Thomas Clayton - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors. © 2005-2013 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication. |
<b>CHARTS</b>: Will <b>Gold</b> And Silver Increase From Here? | Precious <b>...</b> Posted: 10 Jan 2014 10:15 AM PST In my firm's previous article on gold, I examined the situation of the US dollar and the euro, as many times in the past they have given us important clues about future precious metals' moves. At that time, I wrote in the summary: "…gold's lack of will to really (!) react to positive news, like the dollar's huge intraday drop, is a bearish piece of information on its own and an indication that gold is likely to move lower in the short run." On the next trading day, after the essay was posted, gold and silver declined and dropped to their fresh monthly lows. With this downward move, gold almost touched the June 2013 low. This strong support level encouraged buyers to push the buy button, and the yellow metal, which last week saw its best week since October 2013, rebounded to around $1,250. At the same time, silver came back above $20. Will the recent week's rally continue? Before we try to answer this question, we'll examine the long-term charts of gold and silver to see if there's anything on the horizon that could move these precious metals higher or lower in the near future. We'll start with the long-term chart of gold (charts courtesy of http://stockcharts.com). Click to enlarge Even though a lot happened both last and this week, from the long-term perspective, not much changed in the gold market. We saw a move back to the rising long-term resistance line (currently close to $1,250), but gold just touched it, only to decline once again. At this time, the medium-term outlook remains bearish. Any additional rally is not likely to move significantly above this level (from this perspective, significantly means not more than $50 above it, which takes significant intraday volatility into account). In my previous essay on gold, I wrote the following: "Please note that the exact target for gold is quite difficult to provide. In the cases of silver and mining stocks, there are, respectively, combinations of strong support levels, and a major support in the form of the 2008 low. In the case of gold, there are four support levels that could stop the decline, and each of them is coincidentally located $50 below the previous one, starting at $1,150: $1,150, $1,100, $1,050, and $1,000." Taking into account the current situation in the yellow metal, the above price targets remain valid. Let's take a look at the chart featuring gold's price from the non-USD perspective. From the non-USD perspective, gold simply moved back to the previously broken support line and verified it as resistance. There was only an intra-week move above it, but the price is already back below the line, and it seems that gold will close the week below it as well. Please note that in the final part of 2013, we also saw one intra-week move back above this line, and that move was even more significant than what we saw this week. It too didn't invalidate the breakdown. In fact, it was followed by a significant downswing. We can expect the situation to be quite similar shortly, if gold does indeed rally. The move higher could be temporary, and unless we have a weekly close above the rising support line (dashed line, currently close to 46), we will not have any bullish implications whatsoever. Even if we see some strength, the ratio would have to move above $48 (where the upper declining resistance line is currently located) in order for the situation to become bullish. Consequently, some short-term strength is clearly possible, but my firm doesn't think that the medium-term downtrend will be invalidated. Having discussed the current situation in gold, let's take a look at the long-term chart for silver. Click to enlarge It is often said that history repeats itself (or that it rhymes), and it surely applies when we look at silver's recent performance. At the end of December 2013, silver moved temporarily back above the rising support/resistance line, but didn't manage to hold this level. The white metal gave up the gains and dropped below both long-term support/resistance lines, which triggered further deterioration. This week, the white metal made another attempt to move back above the resistance lines, but failed to move above the upper of them, and ultimately, the breakdown below these lines was not invalidated. The next downside target is the previous 2013 low, slightly above the $18 level. Once we see silver below it, the next (and probably final) stop will likely be close to $16. Overall, the trend remains down. Summing up, looking at the current situation in gold and silver, we see that the medium-term trends remain down and the outlook for both remains bearish. However, on a short-term basis, we can expect to see a temporary move higher. In the case of gold, it doesn't seem that the yellow metal will move above $1,250, and even if that happened, it would not be likely to move above $1,285 and change the medium-term trend. In the case of silver, given the white metal's back-and-forth performance in the recent weeks, we also can't rule out another move higher before the next big move down materializes. For the full version of this essay and more, visit Sunshine Profits' website. Twitter: @SunshineProfits No positions in stocks mentioned. The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice. Copyright 2011 Minyanville Media, Inc. All Rights Reserved. |
You are subscribed to email updates from gold price graph - Google Blog Search To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
Google Inc., 20 West Kinzie, Chicago IL USA 60610 |
0 Comment for "Gold Price is Going Higher :: The Market Oracle :: Financial Markets ..."