Gold price chart analysis, 12 November 2018 Gold has used up nearly three months of current intermediate cycle without producing significant gains. There is a chance now that it might enter the declining phase relatively soon. That might possibly give us a low in December (January)
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This is only the 4th time 10-week RSI is this oversold. This implies that a gold price rally should come soon. If gold is to break above $1370, the rally has to be strong from the get go. Otherwise, RSI will trend out of oversold levels, diminishing the chance of a strong move.
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A nice clip from "The Big Short" on CDS and CDO.
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Gold chart & GDX chart, 13 September 2018. Gold and GDX are likely to move up over the next several weeks: DXY is has been under 20 DMA for 3 weeks; Gold was oversold in mid-Aug; GDX chart shows a positive divergence; GDX gave us a large-volume green day.
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Bitcoin is still in the descending triangle. In the medium-term it is more likely to break down to the next support level at $5000. In the short-term, the pennant/coil is likely to bring a violent move either down to $6000 or up to $7400.
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