Leading Gold Bulls To The Last Stand
It’s your host’s engineering background that causes him to go looking for supporting data (or lack of) when presenting a contrary opinion or analysis.
Usually, that means sifting through randomly selected research or YouTube links on the subject; just to make sure the idea’s not being discussed by someone else.
This round’s sample of links is provided for reference below.
None of them even hint of a potential ‘gold bull trap’.
Of the three, Kitco NEWS, receives the day’s honorable mention.
It contained the most amount of useless information; All of it, jam packed into a 21-minute period.
Particularly egregious was (time stamp 18:35), “Sentiment always follows price”.
Sorry Charlie. Star-Kist wants only the best.
The proper sequence is: Sentiment, Volume, then Price. 🙂
The Potential Gold (GLD) Set-Up:
We’re calling the ‘coup d’état’, for lack of a better description.
The bullish hype is so bad and the me-too-ism on YouTube is so disgusting; being devoid of original thought (i.e., it’s a set-up), one has to be prepared for the opposite.
If GLD, manages to move higher to the 172 -175, area, it could be the final thrust before a wrenching sharp, or sustained decline.
The last time gold was discussed in detail was this post.
Gold (GLD) Analysis:
Daily chart (mid-session) of GLD, with the set-up target is below:
The first time the up-thrust target (above) was presented, was this post in September.
These charts are an example of what strategy is all about.
Price action after that post, seemed to negate the possibility and so the idea was tabled.
Now, with the GLD reversal off the lows in late September, we’re back on.
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
The Danger Point®, trade mark: No. 6,505,279