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Hawk's Gold ~ The Legend Continues!

Should we keep Hawk's Thread?

  • Keep the thread alive?

    Votes: 42 91.3%
  • Unpin it and let it fade away?

    Votes: 4 8.7%

  • Total voters
    46
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lunar

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[HR][/HR] Gold Daily and Silver Weekly Charts - God's Mills Grind Slowly

Gold and silver would not be denied, despite some fairly determined efforts.

Silver did the heavy lifting. The intra-day charts are included below.
"Gottes Mühlen mahlen langsam, mahlen aber trefflich klein,
Ob auß Langmuth er sich seumet, bringt mit Schärff er alles ein."

Friedrich von Logau, Göttliche Rache
Have a pleasant weekend. See you Sunday evening.

Jesse's CHARTS

Posted by Jesse at 4:31 PM

but hey - there are other good chartist here - where are you
gold1.jpg
 

Goldhedge

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Conservatively speaking, once these two break through the RTL and test the RTL (new STL) it would be a good time to buy...

2yr charts
Screen Shot 2013-03-08 at 6.52.07 PM.png



Screen Shot 2013-03-08 at 6.51.31 PM.png
 

bemac

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Re: Hawk's Gold

I'm bumping one of Hawkeye's charts from late last year, because this chart very simply shows us the problem. It seems to me the market did a poor job of timing in predicting higher inflation, lots of speculation pushed gold up to ~1920. Since then, gold has had three chances to get back up to that number, and we see strike 1, strike 2, and as we now know, gold struck out. IMHO, we're going to need to see a significant change of perspective in the market for gold to become bullish again. And even then, it not only has to climb back toward 1920, it also needs to pass it. At 1580 right now, we've got a ways to go. It could take some time to get there, but I think when it does, we'll see a very quick and high upward correction. But will it be high inflation or high deflation which sparks that movement? Will be very interesting to see how this plays out, but it's not going to be exciting any time soon, I think.
 

Uglytruth

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Interested in anyone's thoughts on buying BRIC (Brazil, Russa, India, China) currency? Seems the dollar is doomed so why not diversify out of US fiat and into something after loading up the boat with PM's? My reasoning is the East & West are at war & I have more faith in them winning than the US. Any ideas how to do it?
 

Eat Beef

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All fiat sucks.
 

lunar

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Friday, March 8, 2013

Gold in some Foreign Currency Terms


By request... (may be also interesting for Uglytruth)

The spike lower in EuroGold below 1200 seems to have been a relatively short-lived phenomenon, for now. You will note that in terms of the Euro, gold has been in a steady downtrend since October of last year with the trend more defined since November.

This is a possibility that it has broken this downtrend but one day does not a new trend make. We need to see CONFIRMATION. For a bare minimum, I would need to see Eurogold trade through the 1240 level and maintain its footing ABOVE that level. I would feel extremely confident that a near term bottom is in if price could climb past 1250.



Sterling gold is displaying a wedging pattern and has not performed as poorly as EuroGold of late.......
.....
Lastly, Yen Gold - what more need be said - it is on a strong tear higher as the Yen has been the whipping boy of the crosses.......
Posted by Trader Dan at 7:46 PM


 

Goldhedge

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Getting close to buy time...

Screen Shot 2013-03-11 at 10.25.15 PM.jpg


A little way to go for price support
Screen Shot 2013-03-11 at 10.32.33 PM.jpg



Screen Shot 2013-03-11 at 10.29.03 PM.jpg
 

lunar

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Tuesday, March 12, 2013

Gold Clears Initial Hurdle


Gold put in some strong gains in today's session clearing its first overhead level of resistance in the process. Since the beginning of the month of March, it has not been able to clear $1585 - $1587 as it attracted selling on approaches to this region. Buying in today's session was strong enough to absorb the offers that emerged in a rather easy fashion which is a bit surprising to me considering the duration of this resistance zone. I would have expected shorts to put up a bit more of a fight up here. That they did not has to be rather disconcerting if you are a bear as it illustrates that they are wavering in their conviction of lower prices ahead.



I mentioned last week when I first put this chart up that the bears were being frustrated in their efforts to break the metal down below this strong buying zone noted. We are now seeing the signs of that frustration as the newcomers are starting to cover.....
....and more

Posted by Trader Dan at 5:46 PM
 

Goldhedge

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I just happened to check stocks last night. (was sick for the weekend) and lo and behold!


It seems a bottom is finally in. Now to test it a few times before actual liftoff...

TRX, RGLD, HL, SSRI, GDXJ, KGC, to name a few...
 

Goldhedge

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I decided to follow just RGLD as a sector indicator.

With the recent 'correction' in metals prices it looks as if we have potentially a new bottom to consider?

Note: I don't have 3 points here, but I could raise the line to touch the bottoms (and consider that 'blip' as an anomaly) and it would raise the price a tad to $45.

rgld.JPG
 

Strawboss

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Gold isnt overbought in any regard...but it is showing a negative divergence with the MACD. That is in contrast to the imbedded stochastic which suggests higher highs (until it goes below 80). TSI is above zero and heading higher - suggestive of a strengthening trend. If we can get the ADX line heading higher - and prices continue to rise on balance...the trend will get stronger still... 1800 is strong resistance going back to 2012 though.

We have built a nice base over the past couple months as we have had a sideways consolidation...

1593878230010.png
 

Scorpio

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thread closed, moved to HOF area
 
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