89 replies to this topic

[Snippit]

XAU/USD mid June

 

https://wavecount.bl...uusd-daily.html

 

The hourly view is quite clear and self-explanatory..

 

 

nihil interest

[Snippit]

Gold Spot (XAU/USD)

 

The sideways continuation of Intermediate wave (2) is decidedly possible, but this is currently seen as the alternate option.

 

The typical target for Minor wave 3 is $1568. This requires a Minor wave 3 height of close to 4 times that presently on the chart. Even the revised Cup and Handle projection is insufficient when compared with the available typical Elliott projections and is therefor seen as conservative.

The projected target for Intermediate wave (3) is $1673.75.

Projecting target for Primary wave [3] = $1693. For Primary wave [5] = $2022 creating a new ATH.

 

https://wavecount.bl...pot-xauusd.html

 

 

 

bonitas misereatur

 

 

[SoleTrader]

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[Snippit]

The bigger picture is always useful... Gold Spot ($US/Oz)

This monthly chart indicates that the fifth and last Cycle degree wave since the gold price was first floated is now underway and that Primary wave [3] is commencing. 

 

https://wavecount.bl...-spot-usoz.html

 

 

Ova cum lardum

[Milo]

Yes and then there is also the possible inverted head and shoulder. Maybe if gold can break through 1340 and 1360. It can go to R1500. Good luck to investors in gold and gold mining. Maybe a tweet or 2 from Trump can help.  

[Phoenix...]

Excellent......         Thankyou Snippit.....

[Snippit]

 

Interesting times.

The Gold Miners Index (J150) makes a new low for Intermediate wave (2) within the narrows of the falling wedge. The threat of activation of a trend reversal increases. This implies a related flight from other equities.

 

 

Thanks for the TA. There is a big cup and handled formed with gold on the weekly chart. The breakout and upswing might be good.

 

 

I see your cup & handle has broken out. It has a target that assists the projection using the elliott theory. Most interesting...

 

https://wavecount.bl...-spot-usoz.html

 

Gold Spot ($US/Oz)

The first of these 4-hourly spot $US Gold charts projects the traditional cup and handle pattern breakout target.

 

The second chart uses Elliott theory and Fib ratios to project the breakout leg (wave iii) action. ..

 

 

quaerere et invenire

Edited by Snippit, 01 June 2019 - 01:23 PM.

[JR7800]

Thank you very much. I share your opinion.

[Snippit]

Snippit. I love these charts you post but unfortunately I am to my shame a novice if it comes to really understanding and reading charts and I am not always sure if I understand them correctly.

 

I am, was and still are heavily invested in gold and platinum shares. My main share portfolio consist of metal (Anglo gold/Sibanye/Lonmin/Anglo plat and others) and resource (Exxaro/Kumba and others) producing company shares.

 

Can you please take 5 minutes and just give me an indication as to whether these gold miners shares are looking to the upside or downside?

 

Much appreciated.

 

ATM I see potential bull surge for gold related instruments where the J150 index has a classic pattern for a break out and has a wave pattern that supports the idea of intermediate wave (3) commencement. Typical for wave 3 is a move of 1.62 of wave (1). That index relates to local listed gold mining shares.

My view is that a global move from equities is occurring and the politics will not rush to rescue the markets this time for the sake of buying votes for someone. Accordingly I expect a gradual and general pull back until the next US elections with a target of about 1800 for the S&P 500 index.

Meantime its better to park up safe IMO. Gold is possibly worth about a 10% allocation during times of dollar strength and gold strength at the same time but you still need a stomach for some volatility if you intend to stick it out. 

Oil is giving the signs of an impending mini recession. Watch the Fed for a rescue rate move, but it seems to me that the expectation for a cut is also evaporating.  

I gauge that the reaction to Trump tweets is becoming muted and a negative sentiment is taking root in preparation for changes that are needed but will leave a few scars. FWIW. Bottom line from me is tread carefully.

[JR7800]

Snippit. I love these charts you post but unfortunately I am to my shame a novice if it comes to really understanding and reading charts and I am not always sure if I understand them correctly.

 

I am, was and still are heavily invested in gold and platinum shares. My main share portfolio consist of metal (Anglo gold/Sibanye/Lonmin/Anglo plat and others) and resource (Exxaro/Kumba and others) producing company shares.

 

Can you please take 5 minutes and just give me an indication as to whether these gold miners shares are looking to the upside or downside?

 

Much appreciated.

[Snippit]

JSE, Gold Mining Index, J150

The weekly chart of the Gold Mining Index is seen here to have a Super-cycle correction between 2002 and 2015...

https://jsecharts.bl...ex-j150_30.html

 

 

super novum

Edited by Snippit, 30 May 2019 - 10:28 PM.

[Snippit]

Goldfields confirms New York falling wedge breakout.

 

 

JSE, Gold Mining Index, J150

This hourly view of the JSE Gold Mining index depicts the corrective Intermediate wave (2)  with its C-leg form of a falling wedge. The anticipated breakout is evidently in progress.  There is often a pull back towards the boundary line prior to the main move up. -  see the link page...

LINK:   Falling Wedge

 

https://jsecharts.bl...index-j150.html

 

 

impavida

 

[Snippit]

JSE, Gold Mining Index, J150

This hourly view of the JSE Gold Mining index depicts the corrective Intermediate wave (2)  with its C-leg form of a falling wedge. The anticipated breakout is evidently in progress.  There is often a pull back towards the boundary line prior to the main move up. -  see the link page...

LINK:   Falling Wedge

 

https://jsecharts.bl...index-j150.html

 

 

impavida

[Milo]

Interesting times.

The Gold Miners Index (J150) makes a new low for Intermediate wave (2) within the narrows of the falling wedge. The threat of activation of a trend reversal increases. This implies a related flight from other equities.

 

 

Thanks for the TA. There is a big cup and handled formed with gold on the weekly chart. The breakout and upswing might be good.

[Snippit]

Interesting times.

The Gold Miners Index (J150) makes a new low for Intermediate wave (2) within the narrows of the falling wedge. The threat of activation of a trend reversal increases. This implies a related flight from other equities.

The Tencent sell off continues, now taking NPN back into the basing of Minor wave 4 which can go further down to nearby 3000 without changing the count. 

The Top 40 has made an upside break out of its Minor wave 4 falling wedge, which it is now testing.

The Alsi Swix (JN43) has returned up to the underside of the lower channel boundary that it fell through and has met with resistance and fallen back again.

The ALSI (J203) is busy testing its tentative support as it hovers ever closer to big bear territory of Minor wave 1.

The S&P 500 bounce should soon confirm if it is the B-wave and thereby a dead cat, which is what it appears to be IMO.

The Swiss SMI has recently bounced down after the ATH which topped out the Primary wave [1] of Cycle III. Now it makes an upward retrace of that bounce down with all the gusto of a reluctant bear. So far it is an abc and appears to be running on empty.

  

beware of false flags

[Snippit]

JSE, Gold Miners Index, J150

The Gold Miners Index is at the lower end of a falling wedge, which is bullish and requires a resistance breakout to become activated. Then we will have Intermediate wave (3).

LINK:   Falling Wedge

 

 

https://jsecharts.bl...index-j150.html

 

 

ut simia meam a me

Edited by Snippit, 16 May 2019 - 12:38 PM.

[Snippit]

Spot Gold ($US/Oz)

 

The 4 hour chart for spot gold ($US/Oz) has been having a volatile Minor wave 2 with 5 minute waves on board. Now it ebbs at low tide and could well be offering itself as the catch of the season.

 

https://wavecount.bl...-gold-usoz.html

 

 

omnes qui micat

[Snippit]

JSE, Goldfields, GFI

 

This hourly analysis of the (JSE) Goldfields chart is showing the action to be within minute wave [ii] of Minor wave 3 of Intermediate wave 3. If so then a prospect for the abc is a gap closer at 5243 and sub level, by which time the world should have washed and changed, emerging fresh for a spot of climbing.  

 

 

https://jsecharts.bl...fields-gfi.html

 

 

escam esurientibus

 

posted 15h30

Edited by Snippit, 17 April 2019 - 03:31 PM.

[Snippit]

Goldfields has rekindled an affinity for the gold price. 

 

https://jsecharts.bl...fields-gfi.html

 

 

aureum

[Snippit]

Spot XAU/USD; JSE J150 Gold Mining Index

 

The chart of the spot $US price for an ounce of gold is not exactly readily identifiable from the chart of JSE Gold Mining index. There is close correlation at the top of [1] and again at the low of (2)...

 

https://jsecharts.bl...ning-index.html

 

 

 

aurum Disputatio

 

21h30

Edited by Snippit, 20 February 2019 - 09:57 PM.