rbreese, a move lower on gold is overlapping and thus
corrective. An oscillator-based indicator on 4-hour charts is close
to oversold. I feel that we may get a thrust lower into 1955-70
area and reverse there. Thus, this looks like another mid-way
consolidation to me. Technically, /GC should be lower but it
is not going there. Staying above 2000 is bullish.
Professionals have not taken there profits on gold, so higher
prices are yet to come.
A move higher on eurusd is not completed, yet it might have
peaked for now. Thus, gold is not going much higher short-term.
Grains seems to be a new game in town: corn, wheat, even
soybeans.
Posted by DigiNomad on 17th of Apr 2023 at 02:15 pm
DBA reaching extreme levels from the 9 EMA. I can't find many
many, if any times, where it got this stretched and didn't revert
in the short term (I just eyeballed the chart over the last couple
of years...no actual measurements).
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Junkie I would like to
Posted by rbreese on 17th of Apr 2023 at 01:00 pm
Junkie I would like to see your thoughts on the Metals if time permits, Thanks
rbreese, a move lower on
Posted by junkie on 17th of Apr 2023 at 02:12 pm
rbreese, a move lower on gold is overlapping and thus corrective. An oscillator-based indicator on 4-hour charts is close to oversold. I feel that we may get a thrust lower into 1955-70 area and reverse there. Thus, this looks like another mid-way consolidation to me. Technically, /GC should be lower but it is not going there. Staying above 2000 is bullish.
Professionals have not taken there profits on gold, so higher prices are yet to come.
A move higher on eurusd is not completed, yet it might have peaked for now. Thus, gold is not going much higher short-term. Grains seems to be a new game in town: corn, wheat, even soybeans.
DBA reaching extreme levels from
Posted by DigiNomad on 17th of Apr 2023 at 02:15 pm
DBA reaching extreme levels from the 9 EMA. I can't find many many, if any times, where it got this stretched and didn't revert in the short term (I just eyeballed the chart over the last couple of years...no actual measurements).