here's charts of gold, silver and ETF's, GDX, nice correction
from the early Sept highs. Especially with how the commercial's
were near record highs, and so large speculators were as well,
everything supported a nice correction.
I am tracking $Silver and short term we could have seen C
(1) today, then Wave II up near the 23% retracement and (III) of IV
down around the 61.8% retracement. The October 10th date
seems to be a big target now (China/US meeting). It is of my
opinion that Trump will try to close a deal on or around that date
so to quell the dramatic theater of "impeachment". We could
see a bottom for markets on 10/10 and an intermediate top (Wave II
up) for Gold/Silver space. Markets are Dynamic so not
trading advice but it could be the road map for the next two weeks
to keep an eye on.
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Precious Metals nice correction
Posted by matt on 30th of Sep 2019 at 05:02 pm
here's charts of gold, silver and ETF's, GDX, nice correction from the early Sept highs. Especially with how the commercial's were near record highs, and so large speculators were as well, everything supported a nice correction.
$SILVER - Chart Link - near the 50% Fib now
SLV - Chart Link
$GOLD - Chart Link
GDX - Chart Link
GDX - Chart Link - could GDX retest that long term support below in the mid 25's?
I am tracking $Silver and
Posted by ssaffer on 30th of Sep 2019 at 06:32 pm
I am tracking $Silver and short term we could have seen C (1) today, then Wave II up near the 23% retracement and (III) of IV down around the 61.8% retracement. The October 10th date seems to be a big target now (China/US meeting). It is of my opinion that Trump will try to close a deal on or around that date so to quell the dramatic theater of "impeachment". We could see a bottom for markets on 10/10 and an intermediate top (Wave II up) for Gold/Silver space. Markets are Dynamic so not trading advice but it could be the road map for the next two weeks to keep an eye on.