Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
On May 29 I wrote that the chart says up and on the graph
the yellow 45 degree line says "1551 watch for that". price was 1536.50 (June contract)
Well it looks like gann had something going for it stopped right at that level 1553.90 6 June (June contract).
Below is a chart for the August contract.
Looks like it may be rolling over.
Breaking 1520 on the close would indicate down.
(I don't have a measurement - its very late at night and I'm tired but at a guess 1472 to 1450 -IF it breaks down the 1520.)
..........
peace, love and joy to you
.........
Can you help answer these questions from other members on NexusFi?
Though "loss of momentum" does not necessarily mean a fall in price - it could rise less slowly I think she means a fall in price with the DX putting in basing action.
DX is at a key point and breaking above 76.5 with confirmation would set in place a bull leg for the DX. Though its best to wait until it happens - I think it will.
The chart below shows gold and below that the DX (green lines). DX has a wedge forming.
For gold IF a top forms at the 1559 area in the next few days that will be the third top at that level (mustard colored horizontal line). Really gold HAS to push through there to make a bull case. If it fails there (watch the CCI at 140 level), then we have a good chance for a move to the lower edge of the DON channel (1478).
Under that scenario (an 81 pt drop from 1559) I would suspect that it would continue on down for another 80 pts so looking at the 1406 resistance as a target. In total that would be a good move 1559 to 1406 (or to 1399?).
