USPOG slumps

This is hard to ignore, when USD gets some upside and USPOG slumps and hits perfectly the 50MA (low) and closes right on the rising mid-trendline. Clearly USPOG is showing further weakness here after having failed on numerous rallies since the all time $1033 high. You’ve got to factor in a potential for at least [...]

USD a Sick Puppy?

Hell NO, USD is a sick Rottweiller, not a puppy! This currency behemoth is shedding value faster than you can say “the greater depression”! Currently staring into the abyss, USD should find support here-abouts at the 61.8% fib retrace, but keep in mind this is a retest of the June lows and there is a [...]

USPOG looks toppy here

I’m always wary of a rising DOW and rising USPOG; it’s a sign of excess USD money in the system looking for a home, confirmed by continued falling USD as it devalues. Right now though, USPOG has a toppy look about it, turning over perhaps. Downside should be a small decline back to the 50MA [...]

$NZ Price of Gold; Thin end of the Wedge

Gold in $NZD continues working it’s way into the thin end of a large wedge formation, moving sideways in a very narrow price range, caught between the forex effect of a falling USD, rising NZD and rising $US Gold price (USPOG). This is NOT price action, this is a sleeping tonic. Yawn.

Colin Twiggs Trading Diary

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The Gold Market’s Tech Cues

Brad Zigler writes “Fundamental analysis uses economic, political and environmental data to forecast future price movements, while technically derived predictions rely upon price patterns and changes in market volume. Commodity traders often use “the technicals” as well as fundamentals when making market decisions.” Check out the rest of his article here

Welcome to BAA_BAA’s Gold & Precious Metals

Free newletter; Elliottwave.com

Try this free email newsletter, if you like it join Club EWI or subscribe to one of their many excellent publications. I find it and their subscription services to be a very useful to balance the perma bulls views that proliferate on the internet. You don’t have to believe it per se, but you’d be [...]

NZ Price of Silver

NZPOS is pretty ugly like NZPOG, being hammered by the rapidly rising and persistently high NZD negating much of teh rises and USPOS and accentuating the falls. Currently NZPOS prices are working their way down in a narrow channel, but beneath its 50MA and what was hoped by some to be a strong rising support [...]

USPOS

A quick update of the chart and we can clearly see Silver is midstream in a massive parallel rising channel and has bounced rather fortuitously on horizontal support at $14. Still hovering above its 50MA, and with decent support below, the Silver chart has some cause for confidence in price strength, but those pesky indicators [...]

NZ Price of Gold

So how does it translate into NZ price of Gold? Well, not that good actually. The persistent strength in the USD has pushed NZD up from the .40′s to the .60′s, a ~20% change which has sucked teh life out of any Gold price rallies and compunded Gold price declines. NZPOG currently is in an [...]

Gold

The US Price of Gold (USPOG) looks a little more promising when you step back from it a bit, as the chart illustrates the underlying supprot trendline from Jan’09 which crosses right on that 61.8% fib at $912. It would be a concern for the bulls to see Gold fall beneath there, but you can [...]

USPOG Weekly Summary

Concluding a somewhat tedious week, USPOG responded to Monday’s collapse down to the 50% fib retrace and low volatility in the USD, with a 4 day dose of sideways price movement. Was it all boring? Maybe not. Looking at the zoomed-in chart segment below, we can clearly see current prices are still set within a [...]

NZPOS

NZPOS seems determiend to seek out the floor of support at $21 (also the 200MA) and there by negating the entire price move since the Feb’09 breakout upwards. Caught in a steep declining ST trend channel, which is within a broad descending wedge, NZPOS can draw some comfort that this is a continuation pattern. Indicators [...]

NZPOG 180609

The NZPOG chart illustrates the sideways price action of the past three months; the volatility in USD and USPOG keeping a lid on, and a platform under NZPOG. The whole picture is still of a rising trend with remarkable symmetry in trendlines. At present NZPOG is working into a shallow descending wedge with horizontal support [...]

Why use TA for NZPOG?

This came up in discussion about why would we use chart analysis for the price of Gold in NZD? I think there are three important points; 1. Measuring the price of gold in NZD (NZPOG) 2. Using the language of TA to describe NZPOG 3. Applying trading analysis For 1. NZPOG, is important to anyone [...]

USPOG 180609

USPOG bounced nicely on the 50% fib retrace from April’s low to June’s high; back testing the trendline previously support but now resistance, and at convergence with the 38.2% fib. Still contained within the narrow short term declining trend channel, USPOG should either move up out of the channel at $940 setting up a potential [...]