$GOLD through the eyes of Miners ($NEM).. From the exact day of GOLD bottom:That was a $146 swing up and now $45 down overall and $37 from 4/30 chanakya wrote:GOLD higher into 4/30-5/8 twin top CIT's - ST TOP and then possible reversion of cycles should occur in May-June 2013. Refer to ...
Tag: Gold breakout
May 1, 2013chanakya
Speculation has been rife in the financial press lately about the possibility of another financial market meltdown. It seems that investors are waiting for the proverbial “other shoe” to drop as worries continue to mount over the sustainability of the financial market recovery that began over ...
April 24, 2010chanakya
I’ll start off with an analogy. Let’s say you just bought a business, a small restaurant. You open for business on Monday and after a week you have grossed $6000. You’re feeling pretty good about how things are going. The business is up and running. Dollar signs are floating in your ...
April 19, 2010chanakya
What a difference a month makes! It was only a month ago a leading financial publication came out with the story, "U.S. economy still hemorrhaging jobs despite stimulus." The press was all over the employment data and concluded that the stimulus had utterly failed. They were of ...
February 23, 2010chanakya
In a recent issue of Barron’s addressed the question of silver possibly having another outperformance in the coming year. The article asks, “Will the poor man’s gold shine in 2010?” The opinion piece (“Gold Isn’t All That Glitters,” by Allen Sykora) drew attention to the other white ...
February 12, 2010chanakya
The Gold index has 2 Major CITs coming up:2/9** and 3/8-9**. If Gold is closely related to the stock markets, they will influence them as well. Cash Gold has Major support at the 1000 area, which is the 50% retrace and TL support. The US$ Dollar Monthly chart is still in a long term ...
February 6, 2010chanakya
Gold remains in an uptrend. The weekly gold made a regular Fibonacci 89 week Cycle High on 12/2/09 High and saw a strong reversal down the following week. There is also a regular Fibonacci 55 (54-57) week Cycle that came in on the 12/2/09 High and is next due in early September 2010. We should see lower ...
December 13, 2009chanakya
The XAU Gold Silver Index closed 0.84% lower on Friday, Nov. 20, to finish options expiration week at 184.28. The Gold Bugs Index (HUI) was 0.96% lower at 472.64. December gold finished the week at $1,146 while December silver closed the week at $18.44.Here’s what the gold futures price looks ...
November 21, 2009chanakya
Wow this happened faster than anticipated! Almost there! The call was issued on August 27th, 2009. This is a measured move, and should surely provide resistance for a decent sell off in the coming weeks or at least a pause.
November 11, 2009chanakya
The Gold continuous daily chart closed right at TL resistance at 1006. It has not really broken out yet as we would first need to clear the 3/17/08 ATH at1017.50 Resistance, but the daily, weekly and monthly trends remains up. We then have LTmonthly resistance at 1028 and channel resistance at 1075-85. We closed ...
September 13, 2009chanakya