August Gold (GCQ7)

guys ... a heads up

do not trade size in thin conditions

( i.e. july 4th holiday )

to much funny stuff and squeezes going on

lost my weeks profits and part of last weeks too

oh well ... I should know better

:(
 
Gold now facing a 3rd phase of overhead resistance so far since the April top of 692 cash. Unless gold can break over this downtrend line decisively, the bulls will likely give up and give into the bears yet again. We need to see a hard move right back over 666.10 basis GCQ in the coming days or else the risk remains to the downside...
 

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Very similar instance with the mining shares (GDX) which continue to bump up against downtrend resistance. A formidable target of 35 on the GDX ETF remains if there is no significant follow through to the upside here very soon...
 

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After today's breakdown under the 20EMA yet again, it appears that 632-635 cash gold is the next downside target. If gold can't hold support at the March 5th low of 632 then the door opens to a downside move to 615 imo...
 

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Realist,

Where do you get your spot gold charts from? I am looking for realtime intraday spot gold feed/charts.

Thanks.
 
HUI XAU up on a down gold day.....

I sense that Al Qaeda may make good on recent threats since a bunch of doctors jammed propane tanks into SUVs

even the doctors screwed that up...
 
Quote from Realist:

After today's breakdown under the 20EMA yet again, it appears that 632-635 cash gold is the next downside target. If gold can't hold support at the March 5th low of 632 then the door opens to a downside move to 615 imo...
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I agree with this failure at channel resistance so we should target support at 635
 
The divergence between gold metal and the XAU/HUI continues today. This divergence appears to be fairly powerful and judging from prior experience, I am choosing NOT to fade this indication. Therefore I am back long GCQ7 as of today as the gold shares are currently pricing in an imminent up move of $15/20 in the gold price in the coming days imo.
 
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