GOLD & SILVER - next move?

[theroguetrader]

Gold

(slide then rise) -

the downside breakout of 925.0 will probably open the way to 885/850 -(ind showing weakness) -
when it goes ABOVE 935.0, id go LONG and look for 1038/1084 - (ish)
the 40 day MA is flattening, so it might take a while -

 

[faro0485]

Is 1.5K (or even 2K) a ridiculous target? With the current outlook of (with $ below 100 yen, thanks to Fed's TSLC) the financial markets, it is crazy not to long commodities and short the other asset classes (equities, credit, real estate.. you name it..)....

Why not after the market cooling from current highs? I understand that certain significant numbers are places where market doesn't feel brave enough to stay in.

I'm hoping for a gold and silver retrace, around $800 and $15.5 respectively perhaps some time end of March (22nd is a key date on this) Then we shall buy and see if gold and silver gets up to 2.5k and $50 by 2009/10. Perhaps after that we'll see $12,000 and $100 by 2011 or no printed currency.

Otherwise one could always buy gold and silver junior miners, aren't they lagging type that give three times the return as that of gold/silver? Such as Olympic Pacific Minerals under 38 cents, KEFI (aim) under 3 pence, Leyshon under 25 pence, Aquiline under $7 (largest under developed silver mine with a potential takeover). Or am I the only one thinking about junior minors?

 

[HOLLY]

Will gold pop 940 during next trading day???

(slide then rise) -

the downside breakout of 925.0 will probably open the way to 885/850 -(ind showing weakness) -
when it goes ABOVE 935.0, id go LONG and look for 1038/1084 - (ish)
the 40 day MA is flattening, so it might take a while -

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Do you think gold will retrace striaght down or bounce up then down for a bit - out on a limb with a silly trade and am looking for reasurance

Do you think its likley to pop 940 during the next trading day?

 

[Atilla]

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Do you think gold will retrace striaght down or bounce up then down for a bit - out on a limb with a silly trade and am looking for reasurance

Do you think its likley to pop 940 during the next trading day?

Hi Holly,

Problem with gold is it is highly speculative. So I'm not sure anybody knows the answer.

Based on my charts though I'd say we are heading dow to test 900 levels. Given it's tremendous run and market turmoil it can either;

1. Bounce off 900 and continue up as banking crises widens
2. Fall further to 866 to 61.8% retracement and even 830 if we have a H&S forming for a reversal which it potentially looks like.

Now for the $6m question I'd have to say 50/50.

Keep your ear close to the news wire.

Finally, if you are uncomfortable with your position you should halve your position which ever or what ever you do and that should take some of the stress and uncertainty out of your predicmant.

Anything else is pure gambling imo.

Good luck.

 

[laptop1]

I know we have had a pull back of late, but I said around 14 months ago on this thread we'll hit $1.000 it was trading around $658,00 at the time

Here is the link

http://www.trade2win.com/boards/302082-post12.html

 

[HOLLY]

Hi Holly,

Problem with gold is it is highly speculative. So I'm not sure anybody knows the answer.

Based on my charts though I'd say we are heading dow to test 900 levels. Given it's tremendous run and market turmoil it can either;

1. Bounce off 900 and continue up as banking crises widens
2. Fall further to 866 to 61.8% retracement and even 830 if we have a H&S forming for a reversal which it potentially looks like.

Now for the $6m question I'd have to say 50/50.

Keep your ear close to the news wire.

Finally, if you are uncomfortable with your position you should halve your position which ever or what ever you do and that should take some of the stress and uncertainty out of your predicmant.

Anything else is pure gambling imo.

Good luck.

Thanks mate - will check the prices first thing and see how its done in the asian markets over night - if it looks like its going back up - I'll pull out striaght away - was a silly thing to do - but you live and learn... :idea:

 

[midnight*trader]

went short yesterday @£50 p/p on june gold , i'm in a very nice mood today:cheesy:

 

[bearcrunch]

goldprice slide to continue

More like slide then slide. Consensus at goldpricecrash.com

 

[littlemog]

think the mood will be short still this coming week? dollar's firming up (and yet with the equity markets it may be nothing but a temporary rally?) I feel another rise coming soon though.