IAU
$jnug $nugt $dust $gdxj Gold miners threaten Breakout$jnug $nugt $dust $gdxj Gold miners threaten Breakout
Gold Price Clearly Defined and Price TargetsThis last chart, a Monthly price chart, illustrating the Pennant/Flag formation in Gold should be the clearest example we can provide that Gold will soon break out to the upside and rally extensively higher if our research and analysis are correct. The momentum that has built up over the past 2+ years, as well as the global demand for Gold by central banks and by investors as a hedging instrument, could prompt Gold and Silver to rally at least 50~60% in this first upside breakout wave – resulting in $1900 gold prices. Silver could rally to well above $18~19 in a similar move and the number our researchers believe may become the upside target in Silver is $21.
IAU gold ETF reversal ?Weekly chart looks promising. The MA of 50 and 200 weeks have crossed for first time since 2005 (beginning of my chart) and they are heading away from each other a little less than 30 degrees. Could turn into a failed reversal, but something to keep an eye on. If this an upward trend starting it could be a steep climb up the chart. Who knows with precious metals and the daily's don't look as promising. Just an interesting weekly chart observation. Good luck everyone. Thoughts ?
Gold Breaking Out, Indicating Long-Term Bullish Behavior This morning AMEX:GLD , the U.S. ETF representing the price of Gold, is breaking out of two separate patterns to the upside, indicating both a trend change and a breakout reversal. First, GLD is breaking the downtrend line from the gold bear market that begin in late-2011. This indicates a trend change. Second, GLD is breaking out of a triangle pattern than has been in formation since the 3rd quarter of 2015. This indicates an upside reversal.
In addition to the technical patterns/outlook, I could provide various fundamental reasons why the price of gold should be higher than it is now. However, with a quick Google search you can look that up on your own. Just know, the fundamentals currently support the technical outlook.
I expect GLD to remain bullish for the foreseeable future and I believe, at minimum, GLD will retest the 2011 highs.
Initial Price Target = $150
Stop Loss = $120
Disclousure: I am long shares of AMEX:GLD
GO LONG GLD/IAUExcellent retest of prior break out! First target $12.90. Accumulation phase. Will add on deep weakness if able.
GO LONG IAU!Accumulating at retest of break out. $12 has been powerful support/resistance for sometime.
Bullish triangle pattern forming for gold $GLD $GDX $IAUBullish triangle pattern forming for gold $GLD $GDX $IAU
IAU ProfitsThe IAU has treated me well through this Brexit vote. I entered back on May the 10th at $12.21, and I'm looking to take profit around the $13.10 mark, which would be about a 7.5% move to the upside.
If the markets continue to go lower, I can see gold going higher. It's important to keep in mind though the markets are moving with purpose and who knows when they'll cool off. Do I think gold is ready to turn back to the down side? Not yet. I believe gold is a safe haven investment for everyone, especially the people who are not market knowledgeable and are unsure where else to store their savings.
I would stay in gold a little longer, but I'm looking to take my profits after this nice move to the upside. Head on over to www.bearstobulls.com for more information on my trading and investing ideas!
Demand for Gold Rockets HigherIs the once Goldman Sachs "slam dunk sell" turning into a layup buy?
I cannot hate the initial call from many investment bank analysts it to sink to $1,000 because, in 2013, I issued a $1,035 bear-call. However, I do ridicule these analysts for unwillingly (either through ignorance or moral hazard) understanding the dynamics of gold.
But in 2014 I turned rather bullish on the precious metal. As readers know, I developed a hybrid approach: bullish on physical bullion while understanding that prices are sentiment drive. It was hard to deny that the longer-term fundamentals for gold were strengthening between global stagnation and misguided central banking policies.
Despite central banks, primarily the Federal Reserve, trying to fill in the ever-widening gaps via patchwork, market participants remains highly negative up until late December.
This year, traders saw absolute carnage for risk assets and the strongest demand for gold in years. GLD has seen massive inflows, only second to SPY. IAU has seen inflows everyday this year. The demand has been so strong, BlackRock (which manages the iShares Gold Trust) suspended share issuance.
Secondly, inflows to both popular gold-backed ETFs have not been this strong since the SPX fell 18 percent and the Federal Reserve were mere months from starting quantitative easing in 2009. And, we know what happened after that.
Now, the recent move will likely remain volatile as gains on consolidated and traders buy on pullbacks. As you can see in the weekly chart of GLD, the entire move from 2008 to 2011 remained in demand to overbought. If the fund sees a similar nominal gain over the next couple years, traders could see $2,230 for spot gold prices.
Considering that the top three central banks have gone over the deep-end to appease risk assets, we could be seeing a resumption of the gold bull market.
Please feel free to comment and share charts! And follow me @Lemieux_26
Check my posts out at:
bullion.directory
www.investing.com
www.teachingcurrencytrading.com
oilpro.com
GC - Could breakout above ICExplanation is in the chart.
Idea is to watch out for GOLD to breakout (RSI) then monitor and manage.
