doomed Posted March 18, 2015 Share Posted March 18, 2015 Looks like the $ might of just fell off its perch. Quote Link to comment Share on other sites More sharing options...
crashmonitor Posted March 19, 2015 Share Posted March 19, 2015 (edited) With all the currency wars on, it's difficult to get a handle on $ quoted gold. However, still down -3.23% in pounds over 12 months.. I note Max Keiser was claiming gold at a near peak to the pound this week, but if you adjust the chart back to September 2011 I would be very surprised if that was the case. edit......... More like -33%...£1164/ £782 Of course, he might be talking relative to the very distant long term...eg. Brown's bottom. When it comes to RT these days I prefer the rather under stated considered approach of the black guy on Boom Bust these days. I don't know why they don't just dispense with the female presenter and have him front it. http://www.kitco.com/gold_currency/index.html?currency=no&timePeriod=1y&flag=gold&otherChart=hardCur Edited March 19, 2015 by crashmonitor Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted March 19, 2015 Share Posted March 19, 2015 You'll be telling me next that the President could be... Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted March 20, 2015 Share Posted March 20, 2015 $1220 back on cards. Above that... well, too early to say. One step at a time. Most commodities rising with $ pulling back. Short term - weeks or maybe months - could be quite a rally still. Long term bear market persists. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted March 21, 2015 Share Posted March 21, 2015 Is the USD just pausing for breath before going to higher highs in April? Quote Link to comment Share on other sites More sharing options...
R K Posted March 21, 2015 Share Posted March 21, 2015 Is the USD just pausing for breath before going to higher highs in April? Suffering from Dollar anxiety too TMT? Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted March 21, 2015 Share Posted March 21, 2015 Suffering from Dollar anxiety too TMT? No, not at all. Would not worry me whether it goes up, down or sideways. Personally I think this drop in the USD is short-term and may last a few weeks but, by the end of April at the latest, I expect that it will have gone to new highs in 2015. It could resume upwards as early as next week. I don't own any gold or silver and have no interest, apart from academic, about what it does or does not do. Gold and silver may well bounce now that the USD is weaker but I suspect that both will make lower lows in 2015 just as I suspect that the USD will make new highs. Quote Link to comment Share on other sites More sharing options...
Errol Posted March 23, 2015 Share Posted March 23, 2015 Maund's latest take on the gold market - http://www.clivemaund.com/gmu.php?art_id=68&date=2015-03-22 Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted March 23, 2015 Share Posted March 23, 2015 Maund's latest take on the gold market - http://www.clivemaund.com/gmu.php?art_id=68&date=2015-03-22 In a week or so he has gone from doom to euphoria? Ditto silver? Quote Link to comment Share on other sites More sharing options...
Renewed Investor Posted March 25, 2015 Share Posted March 25, 2015 (edited) I am short Silver right now, got my first fill at $16.79 and the second at $17. If you read the Fed minutes it is actually bearish for the metals and then if you go to the daily chart it looks like the right shoulder of a head and shoulders pattern forming. This spike looks like a bull trap to me and if the jobs numbers are decent this week they will pull the rug causing the next leg down in both Gold and Silver. Gold should retest $1325 area and silver the mid $14's. Edited March 25, 2015 by Renewed Investor Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted March 25, 2015 Share Posted March 25, 2015 I am short Silver right now, got my first fill at $16.79 and the second at $17. If you read the Fed minutes it is actually bearish for the metals and then if you go to the daily chart it looks like the right shoulder of a head and shoulders pattern forming. This spike looks like a bull trap to me and if the jobs numbers are decent this week they will pull the rug causing the next leg down in both Gold and Silver. Gold should retest $1325 area and silver the mid $14's. $1125 surely? Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted March 25, 2015 Share Posted March 25, 2015 So listening to FED for trading advice? Yeah, good one. Silver currently bullish to 17.9. Quote Link to comment Share on other sites More sharing options...
R K Posted March 25, 2015 Share Posted March 25, 2015 Inexplicable why people keep throwing their money down the drain. This thread is an object lesson in ignoring apparently "informed" opinion. http://stockcharts.com/h-sc/ui?s=$SILVER&p=D&yr=5&mn=0&dy=0&id=p13653599629 Quote Link to comment Share on other sites More sharing options...
renting til I die Posted March 25, 2015 Share Posted March 25, 2015 (edited) I am short Silver right now, got my first fill at $16.79 and the second at $17. If you read the Fed minutes it is actually bearish for the metals and then if you go to the daily chart it looks like the right shoulder of a head and shoulders pattern forming. This spike looks like a bull trap to me and if the jobs numbers are decent this week they will pull the rug causing the next leg down in both Gold and Silver. Gold should retest $1325 area and silver the mid $14's. I have read about and seen head and shoulder continuation patterns in upwards trending markets but have never seen any examples of them in a downwards trend. Not something I would risk trading, I don't like continuation head and shoulder patterns (worse consolidation pattern ever!). Still if that's the pattern you want to try and trade who am I to dispute it, one point thought, if you are a pattern trailer shouldn't you enter a trade a head and shoulders pattern on the breakdown of the of the neck line? Edit: Oh BTW, I'm currently long SLV and expecting at least a retest of the 200 sma, which is close to the 17.9 level that KB mentioned. Edited March 25, 2015 by renting til I die Quote Link to comment Share on other sites More sharing options...
R K Posted March 25, 2015 Share Posted March 25, 2015 I have read about and seen head and shoulder continuation patterns in upwards trending markets but have never seen any examples of them in a downwards trend. Not something I would risk trading, I don't like continuation head and shoulder patterns (worse consolidation pattern ever!). Still if that's the pattern you want to try and trade who am I to dispute it, one point thought, if you are a pattern trailer shouldn't you enter a trade a head and shoulders pattern on the breakdown of the of the neck line? Edit: Oh BTW, I'm currently long SLV and expecting at least a retest of the 200 sma, which is close to the 17.9 level that KB mentioned. Since it is a downtrend (ref your 200ma) why would you trade it long and not short? By definition odds are against you since price is falling Quote Link to comment Share on other sites More sharing options...
Errol Posted March 25, 2015 Share Posted March 25, 2015 Presumably we will only have to wait a week or two to see which of the chartists is correct in their short term bets (for what it's worth). Quote Link to comment Share on other sites More sharing options...
renting til I die Posted March 25, 2015 Share Posted March 25, 2015 (edited) Since it is a downtrend (ref your 200ma) why would you trade it long and not short? By definition odds are against you since price is falling Absolutely true. It really comes down to one thing only, my personal short-term biased and I agree that trading bear market rallies is a dangerous game! It's just every now and again I see a potential quick gain and I just can't help myself. Edit to add: How much further do you think sliver will fall? Personal I see sliver as being undervalued when compared to gold. Edited March 25, 2015 by renting til I die Quote Link to comment Share on other sites More sharing options...
R K Posted March 25, 2015 Share Posted March 25, 2015 Absolutely true. It really comes down to one thing only, my personal short-term biased and I agree that trading bear market rallies is a dangerous game! It's just every now and again I see a potential quick gain and I just can't help myself. Edit to add: How much further do you think sliver will fall? Personal I see sliver as being undervalued when compared to gold. good answer! Long-run, assuming commods bubble is definately done/dusted then mean reversion to long term trend and/or ultimately -ve sigmas below that doesnt seem unreasonable. Between now/then I have no idea. It felt like an ambitious call to say silver would go to $18 and gold to $1000 when they were in $40s and above $1800 so Im a little bit reticent to overly push my luck but $silver < $10 could happen at some point. Not sure Id be betting cash on that though, at least not yet. Quote Link to comment Share on other sites More sharing options...
Errol Posted March 25, 2015 Share Posted March 25, 2015 I'm perfectly happy to buy silver for £5-6 an ounce (again). It was great when you could do that. Quote Link to comment Share on other sites More sharing options...
Renewed Investor Posted March 25, 2015 Share Posted March 25, 2015 $1125 surely? Oh yes, bad typo on my part. $1125 is what I meant. Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted March 26, 2015 Share Posted March 26, 2015 I am short Silver right now, got my first fill at $16.79 and the second at $17. If you read the Fed minutes it is actually bearish for the metals and then if you go to the daily chart it looks like the right shoulder of a head and shoulders pattern forming. This spike looks like a bull trap to me and if the jobs numbers are decent this week they will pull the rug causing the next leg down in both Gold and Silver. Gold should retest $1325 area and silver the mid $14's. Stopped out? Or staying in to be proved right, eventually? Quote Link to comment Share on other sites More sharing options...
R K Posted March 26, 2015 Share Posted March 26, 2015 I am short Silver right now, got my first fill at $16.79 and the second at $17. If you read the Fed minutes it is actually bearish for the metals and then if you go to the daily chart it looks like the right shoulder of a head and shoulders pattern forming. This spike looks like a bull trap to me and if the jobs numbers are decent this week they will pull the rug causing the next leg down in both Gold and Silver. Gold should retest $1325 area and silver the mid $14's. This brief run up should fizzle out in next couple of weeks & then it gets really interesting as we head back down to the lows. Reasonable prospect of those breaking on the next attempt and a re-run of 2013 price collapse (all imo ofc). No idea why anyone would go long here looking at a chart. Bonkers. Quote Link to comment Share on other sites More sharing options...
Renewed Investor Posted March 26, 2015 Share Posted March 26, 2015 I am still in the Trade, should probably continue to flirt with this price range for a little while before dropping. Only thing stopping a drop at this point would be an unexpected event such as Putin doing something wild. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted March 28, 2015 Share Posted March 28, 2015 I am still in the Trade, should probably continue to flirt with this price range for a little while before dropping. Only thing stopping a drop at this point would be an unexpected event such as Putin doing something wild. US is deploying 12 F-15Cs to the Netherlands before operational deployment to Bulgaria. This is in additional to the F-16s now operating out of Estonia and, IIRC, also out of Hungary. Nice shot here of an RAF Typhoon, Polish Mig-29 and a USAF F-15C performing policing of NATO airspace over the Balkans. Let's hope that no does anything that the rest of us will regret. Quote Link to comment Share on other sites More sharing options...
Renewed Investor Posted March 30, 2015 Share Posted March 30, 2015 Nice smackdown today. Quote Link to comment Share on other sites More sharing options...
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