Good morning!,
Predicted Daily price Range for Gold :
high:1168.97
Low :1156.21
Good morning!,
Predicted Daily price Range for Gold :
high:1168.97
Low :1154.21
A bunch of noise today with gold, I think…there’s a support at 1149/1148 on the 1hr chart 1154 would have made a great long today, not looking to buy gold just yet we just broke out of small range within the last few days I think where making higher highs lower lows imo I’m pretty sure the news was the cause of this short term spike. noticed two similar patterns/ compression triangles on the daily and Monthly. Chart
I’m still short @ 1151 I’m just sitting tight and enjoying the ride, my target for November & December is 1098, if gold breaks well above 1200/1240 area I’m looking to close out of my trade
Sharp Turn
An unusual day in gold trading, without argument.
Our favorite precious metal fell in morning’s session, teasing some price-sensitive buyers into the market. Then the winds shifted and gold rose a bit. The light-feeling rebound quickly turned into a gale wind.
When prices crossed $1160 an ounce on the way up, bursts of high-volume trading indicated that stop-loss orders were triggered. These stop-loss orders have to do with a few factors.
It’s Friday. The weekend is a 60-hour unknown sea to cross. Stop-losses may be ordered as gold begins to bounce, testing lows, testing highs but without much direction. Some analysts feel gold became undervalued and ordered that when it bounced up again, they should dump the short play and enter long.
Some have said the continued slide in bond prices is pushing investors to find havens other than the dollar. Certainly that’s a tone setter. So was the U.S. dollar’s small loss to a certain extent, although today may be just a pause in the greenback rally. (Good economic news from France and Germany helped the euro, by the way.)
WTI crude oil also influenced the precious metals today, popping back up 2.35%. Again stop-loss orders were instrumental. Oil has been dropping like a rock. Some feel too far, too fast.
“Gold has been moving lower for several weeks, and some investors are choosing to lock in gains on their bearish bets ahead of the weekend,” said Bob Haberkorn, a senior commodities broker with RJO Futures in Chicago.
We “Amen” that. As we said over the last few days, gold is in for some volatility. Why ruin a relaxing few days off?
Good morning!,
Predicted Daily price Range for Gold :
high:1205.58
Low :1158.85
Liberty’s Daily Range indicator :
so basically i turned my formula into a indicator if anybody wants to try it out if you have
any questions or anything about setting it up feel free to ask. It Works With with all pairs not just gold & Silverhttps://www.dropbox.com/s/h3rptznxof89diy/LibertysFxRange.ex4?dl=0
[QUOTE=“Libertysilver;667648”]This is what it should look like set up[/QUOTE]
Red line is the predicted high and blue line is the predicted low and top left corner predicted range on the 4hr daily,weekly and monthly, on the smaller time frames just look at the red & blue line
Good morning!,
Predicted Daily price Range for Gold :
high:1193.42
Low :1180.70
Okay I took a short @ my predicted weekly high @ 1204 my predicted high was 1205 tp@
1151, I was goingg to close out My shorts but I had gut feeling gold wouldn’t keep above 1200
Good morning!,
Predicted Daily price Range for Gold :
high:1206.49
Low :1185.26
1205 gave a great short, I’m short @ 1204, 1172,1151,
Traders Say Yes, Dollar Says No
Gold rose at the hands of traders and investors early in the day, until they eased up and a stronger dollar weighed on gold prices.
Investors were reflecting worry about the renewed tensions between Russia and the West over Ukraine, its “rebels” and signs of continued economic struggles in Japan. Japan, in fact, saw its economy contract for the second straight quarter, a decline brought on largely by a hefty increase in its national sales tax. On the other hand, Japan has loosened monetary policy in order to pump more yen into the system, a move that seems not yet to have taken hold.
As many of you know, Russian President Vladimir “Pouting” Putin left the G20 summit earlier than scheduled due to scalding attacks on his invasion of eastern Ukraine. The ruble fell again today but has struggled off of its lows. The handwriting is on the wall, however. The ruble, which had become a more or less respected international currency for some time once the old Russian bear recovered from communism’s fall, has been in crisis for a year now. It is down 3.4% against the U.s dollar in the last week and down 30% for the year.
The dollar’s strength against both euro and yen has been significant, if unremarkable. But the dollar has blotted up the uncertainty in developing “second-world” economies like Russia, Brazil and South Africa, all of which have seen their currencies grow much more volatile and have experienced sharp declines against the dollar.
To round out sentiment that is weighing on gold and pushing the dollar up, an expectation that the U.S. economy will continue to prosper has elicited new projections that interest rates in the world’s largest economy will rise some time next year.
One would think the expectation is “baked in” to the price of gold. However, each time gold rises, bulls dominate thinking that says the American economy is just so-so. But the long-term read on the U.S. is that it is the strongest guy on the beach and 98-pound weaklings should beware.
One of those concerns about the U.S. being so-so surfaced today as U.S. industrial output unexpectedly fell, led by the auto sector. That could be structural or it could be cyclical insofar as the pool of Americans who might buy new cars keeps shrinking because so many already have done so. Couple that with stagnation in overseas markets and you’re guaranteed to have lower auto sales. How the auto industry in the U.S. will find its way out of this conundrum may not be known till the year ends, holiday shopping is over and new models fill dealers’ showrooms.
Overall, it is thought that new business spending could boost manufacturing in the U.S. across the board, excluding autos.
Regardless, it is shorter-term trends like the manufacturing weakness that keep gold bulls in business because it inclines them to believe the Fed is far from ready to raise interest rates.
EDITOR’S NOTE: Please be aware of this month’s travel and holiday schedule, which will through November 30th. Thanksgiving falls within those days. Additionally, during that period, I will be in Indonesia, lecturing to key gold traders there. The time differential will make it necessary for me to send out the regular fundamentals (upper portion) of the newsletter at the usual time. The videos’ timing may be different. You will receive special notification immediately following the release of a new video, which will appear on the website. Of course, trade alerts will not not change. I will monitor markets as usual and have all equipment necessary to produce videos. Thank you.
Wishing you as always, good trading,
- See more at: Traders Say Yes, Dollar Says No | The Gold Forecast
Dollar Weakens, Ukraine Freakin’
The euro turned bullish today and that drove the U.S. dollar down, thus pushing gold prices up.
The tensions in Ukraine between, on one level the eastern and western parts of the country, and on the other between Russia and the West, are rising.
German economic sentiment index rose by 15.1 to a four-month high of 11.5 this month over October’s reading of -3.6.
Most analysts had expected the index to improve by 4.5 points to 0.9 in November.
In addition, the index of the full euro zone’s sentiment increased to 11.0 in October, up from 4.1 in September, well above expectations of 4.3. The unexpected rises gave the euro the shot in the arm it was looking for.
In the U.S., meanwhile, inflation seems to be warming up, though scarcely can it be considered as heated. Drops in fuel prices, stagnation in durables and the usual inflationary questions about food prices are keeping the rate just below where the Fed said it wants inflation to be.
On to the Ukrainian crisis… Why Vlad Putin wants a war with Ukraine is anyone’s guess. We imagine he’s thinking nationalism trumps economics. Without citing at least three or four dozen historical examples to back our thinking up, suffice it to say that nationalism does not trump economic interest. In fact, economics is a huge part of national success.
The Ukrainians are not backing down from the bully, either. It seems there was, for a while back in September, a chance that Ukrainians were willing to let Crimea go and Russia was willing to keep out of the issues concerning “Russian” areas of Ukraine. Of course, that’s now fallen apart.
And here we are on the brink of a nasty land war in Russia/Ukraine. And, if the Russians think they are immune from attack, they haven’t been paying attention to the upgrades to the Ukrainian forces courtesy of NATO.
Regardless of other causes and consequences, we know that the turmoil is helping gold prices rise. And that’s just in time for Russia’s big gold-buying spree. Russia had better buy gold. Their currency is becoming less useful by the day.
Yet another worry for Vlad is the continuing decline in energy prices. Today, in spite of a weaker dollar, WTI crude is down 1.80%, Brent is down over 1% and natural gas is down almost 2%.
Bond yields are flat. All risk-on plays went to the euro and, to some extent, gold. Oh, and that other investment type…
Are the equities markets plowing ahead? Yes they are. So risk money is continuing to be pushed into stocks and records are being broken almost daily.
EDITOR’S NOTE: Please be aware of this month’s travel and holiday schedule, which will
run through November 30th. Thanksgiving falls within those days. Additionally, during that period, I will be in Indonesia, lecturing to key gold traders there. The time differential will make it necessary for me to send out the regular fundamentals (upper portion) of the newsletter at the usual time. The videos’ timing may be different. You will receive special notification immediately following the release of a new video, which will appear on the website. Of course, trade alerts will not not change. I will monitor markets as usual and have all equipment necessary to produce videos. Thank you.
Wishing you as always, good trading,
- See more at: Dollar Weakens, Ukraine Freakin’ | The Gold Forecast
You Were Expecting The Earth To Stand Still?
The minutes from the FOMC revealed nothing, changed nothing, except to tell people the economy is getting stronger but not leaving rubber. That’s really no surprise. So hold off on the brass and also – hold off on the mourning shroud. We’re pretty much in the same patter we’ve been in for a few months.
Left to their own devices, investors and traders are saying, “There must be a rate hike soon.” That’s all well and good, but they’ve saying it for two years and so far… well, you know. It’s reminiscent of old cartoons where a wizened man in robes holds his sign up say “The End Is Near.” Another man says to him, “Do I have time for a haircut?”
The Fed did say some interesting things concerning inflation.
“These participants continued to expect inflation to move back to the FOMC’s two percent target over the medium term as resource slack diminished in an environment of well-anchored inflation expectations, although a few of them thought the return to 2 percent might be quite gradual,” the minutes said.
“A couple of participants noted that it was likely too early to draw conclusions regarding these developments, especially in light of the recent market volatility. However, many participants observed that the Committee should remain attentive to evidence of a possible downward shift in longer-term inflation expectations; some of them noted that if such an outcome occurred, it would be even more worrisome if growth faltered,” the committee added.
But, onward and upward for the short sellers. Does this mean the mini-rally we experienced as of late is over? It’s far too early to tell. But there are some circumstances to be examined.
Even the unrelenting verbal attacks by Neo-comrade Vladimir Putin couldn’t push up gold. Perhaps the strategy of the desperate Russians is this: threaten Ukraine, buy gold, wait for prices to rise on your massive purchases. Since they have no real economy aside from oil and gas, what else can they lean on? Wishin’ and hopin’. With the long tumble of the ruble, president Putin will be going down in history as Vlad The Devaluer.
We are hearing from friends in Europe that the ECB is “getting closer” to more economic stimulation. If you trace our fundamentals analysis back to the early part of this year, you will see that this has been part of the European Central Bank’s talking memo for around six months.
If the E.U. does stimulate, this will further enhance the buying power, the power and prestige of the U.S. dollar at the expense of the euro. The dollar was a bit stronger today, adding about a dollar to the price of gold. Stock markets in New York were subdued and seemed to want to digest the FOMC minutes.
Oil continued downward. It stayed solidly under $75 per barrel (WTI).
We are already entering the “holiday zone,” so expect low volumes, high volatility and some interesting trends in precious metals trading.
Good morning!,
Predicted Daily price Range for Gold :
high:1197.85
Low :1170.79
Selllimit @ daily high