Gold Trend May 23, 2014 |
| Posted: 23 May 2014 12:15 AM PDT Follow The Raw & Let Your Dreams Come True Open Real Account ( Standard ) & Get Free €50 ( No Deposit Bonus ) This exclusive offer is available between 25/03/2014 and 25/06/2014 Join us now What You Waiting For?  Long Term ~ Bearish - Need a monthly close above 1800 to confirm the bull market final phase underway. Medium Term ~ Neutral – Gold on the verge of TURNING BEARISH MEDIUM TERM. A close below 1272 on a weekly basis does it. Intermediate Term ~ Neutral – 1265-1272 downside target met, now need close above 1312 for neutral reading to be enforced and 1322 for bullish. A close below 1272 goes to bearish reading. Short Term ~ Neutral– The short term cycle is up in the air at the moment. A close below 1277 puts us outright bearish on the short term. A close above 1312 for upside. Initial Resistance 1296-1306 2nd tier 1312-1316 Initial Support 1285-1292 and 2nd tier 1266-1276 The last update listed resistance at 1298-1308 and the high was 1296.60. Support was listed at 1278-1288 and the low was 1282.90. The situation in gold is at a neutralized point with each side blocking any attempt up and any attempt down in a standoff that has got gold down to a $30 dollar range in the last 10 days and price is unchanged from April first. The reason we are not yet in strong inflation or hyperinflation is because the current inflation is not AFFECTING everything. Food inflation is typically supply and demand. (sure weather and a host of things affect it but its supply and demand). Assets are an area that has inflated also. One can argue that's where the inflation from printing went. But that is for another day. MASSIVE INFLATION WILL COME --- BUT NOT YET. Marc Faber: "The System Is Very Vulnerable," Brace For A "General Asset Deflation" Submitted by Tyler Durden on 05/22/2014 - 19:55 With global debts 30% higher than they were at the 2007 crisis peaks, enabled by the money printing of central banks, Marc Faber warns that the "asset inflation" of the last years is not reflective of the broad growth seen in the 70s. "The system is still very vulnerable," he warned as investors are exuberant over "hot new issues" just as they were in 2000 and fears "excessive speculation" means investors should brace for a "general asset deflation." Emerging markets are relatively cheap to the US and Europe, he notes, but it is too early; there is nothing to like about low treasury yields but they are good to offset risk. As the market soared recently, fewer and fewer stocks are making new highs and this internal weakness (lack of breadth) and the breakdown in so many 'loved' stocks says the drop is coming sooner rather than later. The 1300 strike price has the most calls and options and the closer to 1300 on Tuesday the more the control boyz make. Any 20 dollar move either way now makes on side worth almost zero and the other side gains huge in percentage. Sometimes the boyz knock it down 20 and cover as many of the open sales as they can. Then price reverses the other way and the boyz get rid of the other side. Other times they just make is float till they expire. In either event the market will be under their control until Tuesday night. Like I said, most often it will be nothing but once in a great while an event can take place that is to strong for the boyz to hold. By Friday volume will reduce drastically and the markets will close until Tuesday in USA. The odds favor listless trading but beware that the MANIPULATORS when in trouble have used occasions like this once in a great while to their advantage. There was a Thanksgiving holiday once that gold move 70 bucks in one day. Just beware of that. Gold Short Term Heres the daily chart view of the trendlines as they converge. The moving averages and price are all there so gold is primed for a move but is not tipping its hand which way.The next short term cycle turn is May 28th so the window opens on Monday morning and will close on Friday. During that time odds favors some type of action to begin. The seasonal change from strength to weakness also takes form on a historical basis between the last week of May and the beginning of June. This is not always the case but most often.  It's decision time for gold. Both trend lines are meeting up. When we look at the chart and see the choppy and overlap of the price pattern at a time when seasonal strength is favored, it doesn't look good. The price path is most likely getting ready to move for the next two week trend, but at this point --- LOOK HOW COMPRESSED PRICE IS RIGHT AT THE VERY APEX OF THE TWO WHITE TREND LINES MEETING UP. 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Even though most of the time you may claim your money back,the time wasted is never returned. You should have used that time to learn how to trade! Read it!    YOU SHOULD NOT TAKE ANY MATERIAL posted on this BLOG AS RECOMMENDATIONS TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED. Do your own due diligence. No one knows tomorrow's price or circumstance. I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader. I do not accept responsibility for being incorrect in my speculations on market trend. King Regards  |
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