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Added at 2:23pm
Added at 2:23pm
The bots have taken over, gold should be going up....geeesh
Quoting edeslu
The bots have taken over, gold should be going up....geeesh
Not necessarily . It'll go up when its ready . Maybe touch 1668 before a bounce . Dollar is strong , so weaker currencies holding gold profit , if gold price is high . Take care and keep your powder dry .
Quoting Chancy
{quote} Not necessarily . It'll go up when its ready . Maybe touch 1668 before a bounce . Dollar is strong , so weaker currencies holding gold profit , if gold price is high . Take care and keep your powder dry .
Good eye, catch gold closer to 1721 for now, long term see 1668 and maybe even 1552.
Legacy is not about Immortality
Quoting edeslu
The bots have taken over, gold should be going up....geeesh
What happened to Gold in 2008 will happen again now. It will go down some more in my opinion before skyrocketing, but patience.
Quoting edeslu
The bots have taken over, gold should be going up....geeesh
I'd thought the exact SAME, but, I question how many gold traders have actually pivoted to BTC. so I'm leveraging BTC as my canary in the coal mine for trigger judgements on when the bottom arrives. and I'm beginning to see light at the end of that tunnel. The longer BTC dalies around 20-19k the more support I see for the entire market. Even if BTC hits 18,500 I think that will signal the last bear push, before we see some significant movement back to a bull. But hell, it all depends on what the FED does and so far, we've seen that they just don't believe their own eyes, despite the obvious. so. take it all with a grain of salt. and keep your positions short term. eh? Good luck.
Quoting Xautrucho
{quote} Good eye, catch gold closer to 1721 for now, long term see 1668 and maybe even 1552.
Jesus Christ, really? 1552? it's last support point in early 2020?
I thought the move to gold would be obvious in 2020, but frankly it wasn't, and I'm questioning why it didn't stay above 2000. The bears aren't leveraging gold as much as they typically do. What's your reasoning? i get the sense it's not diverging enough or at all... . it's not even inversely proportional.
Quoting Xautrucho
{quote} Good eye, catch gold closer to 1721 for now, long term see 1668 and maybe even 1552.

Awww man, i can't go that low...
Quoting Xoraster
{quote} Jesus Christ, really? 1552? it's last support point in early 2020? I thought the move to gold would be obvious in 2020, but frankly it wasn't, and I'm questioning why it didn't stay above 2000. The bears aren't leveraging gold as much as they typically do. What's your reasoning? i get the sense it's not diverging enough or at all... . it's not even inversely proportional.
As always, please note that anything is possible within markets.
The main reason I see gold potentially retesting 1668 and 1552 is because of how much work the United States Federal Reserve is doing in regards to keeping appetite and investor sentiment for USD. Gold is considered a safe haven in times like the ones we are currently experiencing. However due to the world going through a global financial crisis(everyone printed, everyone is pushing interest rates)and the USD seemingly looking like it is handling monetary policy with most ease, global investors are therefore choosing to keep their assets away from safe havens and in the safest place for now. USD is hot but just like anything that is hot, it is unsustainable and bound to pop like any other bubble. For now, interest rates will be the main indicator. If at any point the Fed is not able to fulfill their road map to pre pandemic rates then we will see investors lose faith, at that point I would presume gold the better safe haven for investors. Hopefully this helps, apologies for the delay.
Legacy is not about Immortality
Quoting edeslu
{quote} Awww man, i can't go that low...
Respect your technical analysis and take the market day by day. Even banks can't trade positions for that long. With the ongoing list of global topics - it is best to adapt to the volume and the interpretation of the information that is being printed. Numbers never fail. Refine your strategy, rinse and repeat.
Legacy is not about Immortality
Quoting Xoraster
{quote} I'd thought the exact SAME, but, I question how many gold traders have actually pivoted to BTC. so I'm leveraging BTC as my canary in the coal mine for trigger judgements on when the bottom arrives. and I'm beginning to see light at the end of that tunnel. The longer BTC dalies around 20-19k the more support I see for the entire market. Even if BTC hits 18,500 I think that will signal the last bear push, before we see some significant movement back to a bull. But hell, it all depends on what the FED does and so far, we've seen that they...
Interesting observation but consider a correlation between USD and BTC. After all, you still need a forex major to convert any value into crypto. BTC and crypto are far from seeing their bottom. The FED will have significant influence on the trajectory of BTC, Gold, and USD. The FED has much work to do before we get ahead of pre-pandemic rates. Consider sideways range but we are far from bull market.
Legacy is not about Immortality
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  • Posted: Jul 6, 2022 2:23pm
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    Category: Low Impact Breaking News
    Comments: 10  /  Views: 3,000