Gold, Silver and Crude Oil thread

[TWI]

Another reason to be bullish precious.

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/10/16/bcnchina116.xml

 

[fibonelli]

US Fed CB fiat funny money bailout of their bankster mates
http://www.federalreserve.gov/boarddocs/legalint/FederalReserveAct/2007/20071011/20071011.pdf

No wonder PM's and Crude Oil are firm and the US$ is going down the toilet.

 

[fibonelli]

Emini Light Crude: Bear Engulfing Candle on 19 Oct and Bear Divergence on short period SMI.

 

[Hook Shot]

Nymex interesting......

on dec contract we are now testing monday's low and marginally broke it so far.

We are still in gentle pullback mode (basis dec contract) and so with inventories today looks interesting for fast money oil players....

Translation: longs getting to look interesting and low risk...
Watching and waiting....... now 8495 vs today's8468 pbk lows...........

 

[TWI]

We have been a a choppy time for all the markets the last week and it has been hard work extracting value from most fo the commodities. There is little doubt in my mind that we will see >$800 gold but where to buy the dip is a good question. There is an argument for scale down buying but you may require deep pockets. Think we could get back down to 752ish.. but may not even get that far.
I keep core long and will add accordingly on weakness or support.

 

[Atilla]

We have been a a choppy time for all the markets the last week and it has been hard work extracting value from most fo the commodities. There is little doubt in my mind that we will see >$800 gold but where to buy the dip is a good question. There is an argument for scale down buying but you may require deep pockets. Think we could get back down to 752ish.. but may not even get that far.
I keep core long and will add accordingly on weakness or support.

I've burnt me pips on gold recently and will not wonder in either way. On geopolitical level the little escallation on the Northern Iraqi border will not last long imo. If anything greater stability and trade will result from it.

I still think gold will come off it's highs. However, TWI you were right and I think so too long term as I see no will in the US admin to curtail their mismanagment of the US economy or the fall in the dollar. In contrast I think it is their primary objective weapon against China and the rest of the world not supporting US policies. Catch 22 and all that stuff.

 

[fibonelli]

In the short term I'm not impressed seeing bearish momentum divergences.

 

[Hook Shot]

A little luck often helps...

on dec contract we are now testing monday's low and marginally broke it so far.

We are still in gentle pullback mode (basis dec contract) and so with inventories today looks interesting for fast money oil players....

Translation: longs getting to look interesting and low risk...
Watching and waiting....... now 8495 vs today's8468 pbk lows...........

Bailed out after 150pips but we're now @ 8750

 

[fibonelli]

http://www.plungeprotectionteam.com/
aka tracking the falling US$

 

[fibonelli]

Silver has wings today!

Seems to move in a measured way too!?

Double click to see clearly.

 

[fibonelli]

Latest Gold Futures short term chart.

 

[Hook Shot]

Spot Silver $15 ?

In this current surge....... which started last week..... those who are not onboard should probably stand aside and let the bulls run on this one...

Without a decent dip it would feel too much like gambling to chase it at the mo ...

I'm looking at $15 as a place for a potential pullback ....obvious I know but .......

 

[smbtnt]

Gold scalp at 782

Quick long here with tight stops.

 

[fibonelli]

spot gold 800 :cheesy: <big bottle of champagne smiley>

 

[TWI]

Congrats to one and all who rode it this far. The precious beast has finally broken free.
Next party at $1000.

 

[Hook Shot]

RE : SPOT SILVER.....We're HERE!!!!

In this current surge....... which started last week..... those who are not onboard should probably stand aside and let the bulls run on this one...

Without a decent dip it would feel too much like gambling to chase it at the mo ...

I'm looking at $15 as a place for a potential pullback ....obvious I know but .......

Watching and waiting.... :cheesy:

Next biggie is $20 which is some distance away......

 

[fibonelli]

Beauty & the Beast

 

[fibonelli]

Latest Gold Futures (CME) chart which I've cleaned up!

Highlights:
Confluence of Fibonacci Extensions between $841and $845 (see pink markings)
Evidence of Supply (ie Profit-taking)- see the candles with large upper tails (LUT) on 7/11 & 8/11/07 (see yellow markings)
Inside Bar on 9/11/07
Price finds support on steep trendline ie RBS
Pivot support @ 800 (see purple mark)

Trend re-entry signal if price exceeds IB and preferably above the high of the highest LUT candle or an ABC retracement above the 800 pivot.

 

[fibonelli]

gold miners minus 7+%

 

[fibonelli]

Trader Educational Video by John F Carter.
CBOT Gold Futures Scalp Trade on 9 Nov 2007
http://www.tradethemarkets.com/public/1440.cfm
Includes very useful guidance re trade setup and money management.