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I'm not sure either. The current high in spot is the magic number - $1280.3. I'd love to see gold close above that level. I'm leaving in an hour and that's all I want to see when I'm back.
Yeah, this should've easily been a +20% day here...
I wanna see a short SQUEEEEEEEEEEEZE!
I like how gold looks on a 5m chart. Almost a straight line. GC trying to get above $1200.
So, I wake up to see Gold is at levels of yesterday's high...so does that mean GDX/NUGT are going to wipe out all of yesterday's losses on the open??? LOL, NOT!
I don't like the action so far. Gold rejected at that cursed trendline again.
Yep! I'm watching the same thing. As for Fed, they're more dovish lately so maybe that'll help. I'm not holding my breath, though.
Spot pushing at $1200 again but this time from the other side. With FOMC minutes this can be an important day for gold.
Maybe your broker moved to Japan or China. They use red for gains and green for loses. I'm not kidding!
https://www.quora.com/Stock-Market-In-what-countries-are-stock-prices-colored-like-China-red-up-and-what-countries-like-the-US-red-down-Is-there-a-country-that-uses-a-third-color-to-indicate-changes?share=1
You can't make this sh!t up. Daily RSI on GDXJ below 13. As if gold dumped $300 in a day...
That's a sizable bounce from $1260 and gold still oversold on daily. Not that it's bullish yet.
Yeah, so we get a bounce from Dec 2016 lows. Please, let this be a reversal.
Already past that point...
Are sellers hunting for Dec 2016 low? That's $18.58 on GDX.
Silver gets massacred almost to 2016 lows... This is like a war on precious metals.
This is so oversold I can't believe my eyes. High time for a short squeeze.
I decided to keep my NUGT/JNUG shares at least for this week. I transferred some extra funds today and I'll use them to flip this POS intraday.
It looks nasty for gold and even worse for miners. I have no idea what's still dragging gold down. Let's hope this is capitulation. If there's no bounce this week I'm out.
Sudden, small spike in gold on 5m. Something happend but I don't know what exactly. Turkey?
CPI data in half an hour.
I agree. I didn't want to imply that DXY drove the gold price today, only that weakening EUR contributed heavily to DXY's rise.
Well, we have a very clear downtrend. The only problem is that very few people expected this to continue for so long. That's why we're sitting here shaking heads instead of doing cha-ching! in DUST...
I opened my position a month ago and I'm down 23%. 23% is what NUGT can gain or lose in a day. If you're scared by that you shouldn't trade it. The main problem is that this trend started 3-4 months ago already with two bull traps along the way. It WEARS YOU DOWN with each faded move. We're getting a lesson in psychology of investing.
Euro is weakening and that pushes DXY higher as EUR is its main component.
Yeah, this BS will probably continue till Friday.
Yeah, GDX chart is much more pessimistic.
I didn't expect another 3% down today :/. It feels like a slow, painful death.
Haha, thanks :). I'm rooting for the same thing obviously and I hope that's the way it's gonna be!
OK, yeah, that's what I meant.
I mean ISM on Non-Manufacturing PMI? :)
https://www.investing.com/economic-calendar/ism-non-manufacturing-pmi-176
Admittedly, the lowest trendline is a bit skewed +-$1, but gold is back in the wedge and I'd LOVE to see it close above $1222 today.
Yep, it looks promising. Huge miss on PMI.
<sarcasm>Thanks, haven't seen that chart in a while!</sarcasm>
Payrolls, unemployment and PMI data today. Maybe that will help?
Weekly RSI below 30. The last time that happened was... 5 years ago.