Gold Silver

[jsc]

Guess we got to the thin edge of the wedge and got that breakout then...

 

[tar]

Prepare for gold prices to plunge...as low as $350

http://money.cnn.com/2015/07/30/investing/gold-prices-could-drop-to-350/index.html

 

[tomorton]

I don't trade Gold directly but have been shorting AUD all month and looking get back in asap.

 

[manateerex]

Yes, but analysts still seems quite optimistic on precious metals.

 

[tomorton]

Commentators and analysts have probably not much more chance of being right about the future than my cat. And their words are definitely nothing to base a trade on.

But I'm trading off charts so there is no dispute about what has happened and where price is and how it got there. Right now it loks like a bear but if it ever looks like a bull no doubt you'll find me buying AUD. Trend will take quite a long time to reverse but once/if it does, a position can be flipped in a minute.

 

[tar]

From BMT

 

[fxstrategist]

gold silver

Interesting opinions from all of you, always trying to keep an open mind.

 

[arigoldman]

Gold decline isn't over yet.

 

[AtulVajpayee]

Surely gold has potential to down upto $900. but it will not stay there for long. it will come back in range of $1100 - $1300.

 

[systematics]

Any idea what's causing the recent rise in silver? It's pretty sharp, I've been waiting for it go up, had a hit a couple whipsaws, not sure if it is the real trend starting, or just volatility went up b/c of the Fed uncertainty.

 

[counter_violent]

Gold ain't looking too good as a store of wealth. Down triangle might suggest a significant drop ahead.

$250.00 drop wouldn't surprise me !

And still getting smashed.....along with all other commods.

 

[fxstrategist]

Gold

Gold could not break above the 200 week EMA and bounces back down. Its next support may be the 55 day EMA.

 

[volfixtrader]

Hopefully, I am getting itchy fingers sitting on the side-line. Hope it does not drag on to long.

if we analyse market profile of Gold on week bars for 3 past yars we can see that now we in centre of curve bell. So nearest furures price will trade between 1315 and 1195.

 

[dianajs]

It's testing the resistance at 1235 at the moment. Considering the doji candlestick on the daily time frame above the support at 1230 it will break above it eventually, I think.

 

[volfixtrader]

it's testing the resistance at 1235 at the moment. Considering the doji candlestick on the daily time frame above the support at 1230 it will break above it eventually, i think.

In middle time you are right. More long that short. Price rebounded from max of accumulation (on 60 min time frame)

 

[fxstrategist]

Gold

A good consolidation on gold just below the 200 week EMA, but on the daily chart the candles have been leaving higher lows, indicating possible bullish continuation.

 

[arigoldman]

Bearish on Gold. Expecting 1,080 again.

 

[fxstrategist]

Gold

Gold breaks symmetrical triangle on the weekly chart and it is getting close to the 1300 level.

 

[arigoldman]

Kinda bearish on Gold.

 

[fxstrategist]

Gold

Gold stays around the 55 day EMA, but it may try to bounce to the upside.