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mohsinqureshii

Gold Bullish or Bearish

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Analysts Look For Gold To Consolidate Next Week Ahead Of FOMC Meeting

 

Friday January 23

 

Gold prices have ended another week with gains, but according to some analysts, a rally next week could be limited as more attention is focused on the Federal Reserve and the U.S. economy.

 

Howard Wen, commodity analyst from HSBC, said that because of its strong momentum, gold prices do have room to move higher, but he is expects the market to see a bit of consolidation after what has been a strong start to the year.

 

“Gold is still up more than 9% in the first three weeks of the year,” he said. “A consolidation period is expected at some time.”

 

Although gold and silver ended Friday in negative territory, they still held key support levels that some analysts suggest will be positive for the metals next week.

 

Ole Hansen, head of commodity strategy at Saxo Bank, said that gold should maintain its momentum as long as it holds above the 200-day moving average, which now comes in at $1,256.40 an ounce.

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:hmmmm:

 

More self evident desperation by bulls to hold 1203-1200 zone:

 

AGREE.

And while the stock market continues to make new highs, GOLD will stagnate..

Just one warning,.Greeks are hoarding Euros ....... and Gold.

Regards

bobc

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AGREE.

And while the stock market continues to make new highs, GOLD will stagnate..

Just one warning,.Greeks are hoarding Euros ....... and Gold.

Regards

bobc

Not in their banks though.

 

But the Greeks could buy all the gold that they can hoard. Still won't help this this :puke: from happening.

 

:)

 

IMO $950 level is still calling.

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The papergold this thread is about is currently way hooked up with JPY... ie (for any ‘plain speak challenged’ readers) it’s “highly correlated” .

So, what is “desperate market” about that?

Or How many more “desperate players” ( weak hands, etc.) are "desperate" than usual ?

 

... and Who in their right mind wants it to stay so high anyways?

...real bulls want it lower. ... the lower the better...

... and for the real bears, Martin Armstrong is back (and what did not kill him made him stronger) so relicgold at $285 is inevitable ...

...So, Sun, I still think an explanation of the word “desperation” would be helpful.

(Without explanation it might be taken a new technical term defined as support provided by horizontal trend lines that deliver the same quality of support as jet vapor trails to start with ...? etc ? etc.?) Thx

 

...and jmo BobC, papergold as a rule could not care less about who is “hoarding” gold.

... and more jmo, papergold doesn’t care quite enough even about who is lending or borrowing gold...

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That's a good answer -

to a different question.

 

So

"Desperately tried to hold support"

becomes

"Searching for why tried to hold support" ??

 

"More self evident desperation by bulls to hold 1203-1200 zone"

becomes

"More self evident searching for why by bulls to hold 1203-1200 zone" ??

 

Question remains - Where is the "desperate" on those charts?

 

Would not have questioned the use of milder "technical" /"chart" terms to insert some extra "why" into the posts... like for example '(It) disappointedly tried... ' and '...self evident disappointment' ...

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... primarily for the benefit of chart noobs ...

 

Re: “Desperate are those searching for why when the chart tells why/when/how.”

Charts are one possible way of representing bhvr of human ‘crowds’ ... and whether we like to acknowledge it or not, there is always a “why”. The bhvr of human ‘crowds’ is the central “why”. For the chart technician, it’s the only necessary “why”. ‘ Voice of trading’ chartist proponents as a rule unconsciously guide noobs into developing an illusion that there are no ‘whys’ to be aware of ...by sending the brains to focus on the chart instead of the human bhvrs that generate the basis for charts and other visual representations... Point is: that way is good only for a few - and not the many as some chartists would have us blve...

 

...

 

Since no good explanation for the use of the term “desperate” seems to be forthcoming let me go a little further and partially explain why I questioned its use.

‘Technically’*, there is often not much fight in herded bulls after the near parabolic, narrative based run-up like in late Jan. Not much fight means they can’t generate very much to be “desperate” about. So, pricechartwise, those blue horizontal lines mark/provide no more possible ‘support’ than jet vapor trails in the sky would... etc.

The strong handed bulls don’t even have to be ‘concerned’ until the 1160’s...

Permabulls are in physicals and are hedging with papergold, etc. etc...

...

in quick summary, very few bulls are “desperate” at this time - so the use of the term is questionable and could just be possible unnecessary spin** ...etc etc.

 

 

 

 

 

 

* and by god I’m using that ‘Technically’ term loosely - since we’re making “desperation” and “disappointed’, ’concerned’ etc. into ‘technical’ / chart terms ...

 

** ...and yes, some things could be said about spinning this kind of ‘CNBCese speaky’ into our posts - but we certainly can’t single out just SunBurst on this because we’re all guilty of it at one time or another ...and via the ‘internet’ that would just be pickin a fight.

The purpose is not to condemn “shorthand” either... look what damppenguin has to do to avoid it. See http://www.traderslaboratory.com/forums/wyckoff-forum/19107-trading-sla-amt-intraday-5.html#post196677

The purpose of my posts is to question questionable “shorthand”. So, for the benefit of the noobs, an explanation of “desperate” would still be appreciated

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“…The serious artist is the only person able to encounter technology with impunity just because he is an expert aware of the changes in sense perception… ” M. McLuhan

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“…The serious artist is the only person able to encounter technology with impunity just because he is an expert aware of the changes in sense perception… ” M. McLuhan

 

 

 

 

 

 

 

http:/CNBC.com/desperate-charts-suggest-sub- $1000-Gold-is-likely/

Thank you CNBC, suntrust, and BobcTwns for the great and helpful explanations.

You are the best lab partners EVER!

Now we understand. It really is best to be one of the entranced apathetics who swallow anything.

 

 

 

 

 

 

 

no promotions and links (we will monitor all threads)

http://www.traderslaboratory.com/forums/search.php?searchid=982824

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Gold Could Fall Next Week On Yellen, Tentative Greece Deal

Friday February 20.

 

Gold prices could see some more pressure in the near-term as the market ends the week in negative territory.

 

According to some analysts, last-minute reports of a potential agreement between Greece and its European creditors caused gold prices to end in negative territory for the fifth consecutive week. However no official announce has been made; a press conference is scheduled for 3 p.m. EST.

 

Comex gold futures settled Friday’s session at $1,204.90 an ounce, down $22.60 or 1.84% for the week.

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quick little break time from the chart 'technicals' and crowd 'sentimentals'...

 

It's advisable to crinkle your foil hat securely around your whole cranial region before reading... suspends the trance

Then please be on the watch out for treacherous ideas within

 

A Salvo in the Battle for the Gold Standard | Zero Hedge

 

We now return you to your regularly scheduled programming

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Gold Futures End Four-Week Losing Streak, Analysts See $1,200 Holding Next Week

Friday February 27

 

An early morning rally following a drop in fourth-quarter GDP growth, and disappointing manufacturing data from the Chicago region, helped gold prices end the week in positive territory, capping a four-week losing streak, according to some analysts.

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Opps, I've fallen and I can't get up - above $1200

 

Too many resistance on the way up, 1202/1207/1214. They need to be broken in 1 move to take this metal to the 1230-40 zone.

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Came close to daily S3 level and more than 100% of yesterday's range so a "oversold" bounce was expected.

 

Correction now underway and probably ending around 1180 area.

Should said ending, at most, 1180.

 

But its been so weak lately it only made it to 1170. :doh:

 

:)

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We now interrupt your technical programming...

 

The dollar is now “strong” and PM’s are ‘weak’ . But are PM’s really ‘weak’ ? Will an oz of gold still purchase pretty much what it always did in goods and services? Over decades and decades , has it lost anywhere near the purchasing power the USD, etc. has lost? The dollar is now “strong” and gold is ‘weak’ - but only if you have a very short memory or limited knowledge and understanding.

 

Have you held an oz of gold in your hands lately? It takes 1200 USD to buy that? I’m thinkin that one can buy 1200 USD with one little oz of the stuff says far, far more about the dollar (or whatever fiat/debt currency you’re ‘swapping’) than it does about gold.

 

Like - instead of at 2000 decibels, now it only screams at 1200 decibels in the canary mine. But that is still screaming bloody (money) murder.

 

Each of us is either pretending or not pretending that our (worthless) paper currencies have not lost any value since the exchange taxation / assassination / demonetization of PM’s. Each of us is either in denial or not in denial. Each of us is either herd supporting a lie, a fraudulent paper PM market, a ‘matrix’ of sorts - or NOT.

 

Just saw where Pension Benefit Guaranty Corporation says their guarantees of funds are uncertain / at risk / just may not be possible in over 50% of the un(der)funded pensions in the US. That, played on out, is how this fiat, keynesian rip-off , ultimately gets you - blatantly. If you are younger and paying/saving into this system, you are REALLY getting ripped off by unnoticable little bits and pieces every day.

 

...paraphrasing Francisco’s “money speech” in Atlas Shrugged - PM’s are an objective value, an equivalent of wealth produced. Fiat paper is a mortgage on wealth that does not yet exist, backed by a gun aimed at those who are expected to produce said wealth into existence. Paper is a check drawn by legal looters upon an account which is not theirs: upon the virtue of the victims. Watch for the day when it becomes marked: ‘Account overdrawn.’

 

Fwiw, for me re ” Gold Bullish or Bearish "

I have been bearish gold for years now in terms of silver. Over the years I have swapped gold for silver and just recently ‘finished’ - now (except for a selection of gold coins I want to keep) I’m entirely out of physical gold, entirely into physical silver (which has its own set up practical hassles, btw)

In terms of fiat, re ” Gold Bullish or Bearish" - I could not care less.

 

We now return you to your regularly scheduled technical analysis...

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Gold is a commodity.

All commodities closely follow the laws of supply and demand.

When prices rise, supply enters the market.

Historically, or normally, supply was physical, but we no longer live in normal times or we have a new type of normal. There are more ways to get involved in PM than one can list; most of which are paper gold that does nothing more than mimic the price of gold. More people have access to PM than ever before and that leads to bigger and deeper bull and bear cycles. Since we have seen the last sucker who bought, we are now looking for the last sucker who sold as we work through this incredibly oversupplied market. We are a long time away from the bottom. At this point we can expect gold to drop to lows not seen in at least a decade. A guess would be somewhere near $500 an ounce.

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well according to the history

... it seems that investing in gold still a better option :)

 

:helloooo:

 

"investing"

There’s that word again :)

 

gold is never a good investment

it is only rarely even among the best trades

its best purpose is as a (relatively) physically secure, easily transact able, etc. etc. store of (un-invested) wealth

 

 

:spam:

You Think You're An Investor? I Think Not | Zero Hedge

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