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XAU/USD & XAG/USD - Gold & Silver Traders Thread

  • #52,401
  • Sep 1, 2019 3:06pm Sep 1, 2019 3:06pm
Quoting farukh
Trendline from 1400 is broken in TFs m15 m30 h1 h4 & d1. On h4 sma50 price is 1523 which has become resistance from support after breakout. As long as 1523 gives rejection, more south direction is expected up to 1508-1510. Same is the key buying area. Price level 1488-1494 is having major support
True....but the moment bears close beleive 1505 on a daily basis we may begin drifting lower to that level Fontu posted a week or so ago....lots of confluence around it
4&1 All Time Profit: $37,496
  • #52,402
  • Sep 1, 2019 3:07pm Sep 1, 2019 3:07pm
There is a strong bullish influence of the XAG/USD market on the weekly time frame and the technicals are in support. Of course, we can expect a southward pullback in correction, particularly as price action has moved too far from the mean and is presently located at a horizontal resistance.

On the H4 time frame, the technicals still favour bulls, but the momentum is weakening. We may see a bearish corrective move upon the breakdown of a minor rising trendline (blue) from the low of August 23. However, as long as the longer rising trendline (red) from the low of July 9, 2019 is intact on a daily closing basis, we can expect bulls to maintain market control.

I am bearish XAG/USD in the short term.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #52,403
  • Sep 1, 2019 4:25pm Sep 1, 2019 4:25pm
Quoting MzansiObi
To our Fundie guys, whats your take/understanding on Dorian and possible effect on this cross? Looking forward to your responses....
I'm not sure what the impact would be. In theory, a catastrophic hurricane would increase uncertainty and create some economic instability which would lead to higher gold prices. But I'm not sure what's been priced in. On Friday, they were expecting a different storm path than the updates are showing now. I don't think the hurricane is going to have to much impact. But if it does, it would push gold prices higher.
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #52,404
  • Sep 1, 2019 4:25pm Sep 1, 2019 4:25pm
UJ gapped down......thinking....possible gap up on Gold.
Let's see.....
4&1 All Time Profit: $37,496
  • #52,405
  • Sep 1, 2019 4:27pm Sep 1, 2019 4:27pm
Quoting MzansiObi
{quote} True....but the moment bears close beleive 1505 on a daily basis we may begin drifting lower to that level Fontu posted a week or so ago....lots of confluence around it
Fundamental is good for a gold
  • #52,406
  • Sep 1, 2019 4:29pm Sep 1, 2019 4:29pm
Quoting EventsTrader
{quote} I'm not sure what the impact would be. In theory, a catastrophic hurricane would increase uncertainty and create some economic instability which would lead to higher gold prices. But I'm not sure what's been priced in. On Friday, they were expecting a different storm path than the updates are showing now. I don't think the hurricane is going to have to much impact. But if it does, it would push gold prices higher.
Noted bro.
Let's see how we open.....
4&1 All Time Profit: $37,496
  • #52,407
  • Sep 1, 2019 4:29pm Sep 1, 2019 4:29pm
I think it could be a gap up opening
  • #52,408
  • Sep 1, 2019 4:32pm Sep 1, 2019 4:32pm
Quoting EventsTrader
{quote} I'm not sure what the impact would be. In theory, a catastrophic hurricane would increase uncertainty and create some economic instability which would lead to higher gold prices. But I'm not sure what's been priced in. On Friday, they were expecting a different storm path than the updates are showing now. I don't think the hurricane is going to have to much impact. But if it does, it would push gold prices higher.
Agreed
  • #52,409
  • Sep 1, 2019 4:38pm Sep 1, 2019 4:38pm
Quoting Unitedgold
{quote} Fundamental is good for a gold
Care to elaborate bro.....?
4&1 All Time Profit: $37,496
  • #52,410
  • Sep 1, 2019 5:06pm Sep 1, 2019 5:06pm
Quoting MzansiObi
{quote} Care to elaborate bro.....?
Thanks bro
  • #52,411
  • Sep 1, 2019 5:22pm Sep 1, 2019 5:22pm
Quoting Unitedgold
{quote} Thanks bro
Tell us more why Fundies are good for gold bro....tah
4&1 All Time Profit: $37,496
  • #52,412
  • Sep 1, 2019 5:42pm Sep 1, 2019 5:42pm
Quoting MzansiObi
{quote} Care to elaborate bro.....?

  1. President Trump rattled Wall Street last week when he ordered U.S. firms to move production out of China.
  2. But, in conference calls with investors just this past month, dozens of chief executives have signaled plans to further diversify their supply chains away amid the intensifying trade war.
  3. Toymaker Hasbro, personal care company L Brands, and fashion designer Steven Madden have all outlined plans to substantially reduce their reliance on Chinese manufacturing in the next few years.

  • #52,413
  • Sep 1, 2019 5:44pm Sep 1, 2019 5:44pm
Quoting Unitedgold
{quote} President Trump rattled Wall Street last week when he ordered U.S. firms to move production out of China. But, in conference calls with investors just this past month, dozens of chief executives have signaled plans to further diversify their supply chains away amid the intensifying trade war. Toymaker Hasbro, personal care company L Brands, and fashion designer Steven Madden have all outlined plans to substantially reduce their reliance on Chinese manufacturing in the next few years.
A 'fear bubble' is creating a huge buying opportunity, long-time market bull
  • #52,414
  • Sep 1, 2019 5:46pm Sep 1, 2019 5:46pm
Quoting MzansiObi
{quote} Tell us more why Fundies are good for gold bro....tah

  1. China on Sunday started to impose additional tariffs on some of the US goods on a $75-billion target list, with effect from 4:01 a.m. GMT.
  2. The extra 5% and 10% tariffs were levied on 1,717 items of a total of 5,078 products originating from the United States.

  • #52,415
  • Sep 1, 2019 5:46pm Sep 1, 2019 5:46pm
Quoting MzansiObi
{quote} Tell us more why Fundies are good for gold bro....tah
Need more
  • #52,416
  • Sep 1, 2019 5:56pm Sep 1, 2019 5:56pm
Check this
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  • #52,417
  • Sep 1, 2019 5:59pm Sep 1, 2019 5:59pm
Quoting Unitedgold
{quote} Need more
4-week MA of initial jobless claims bottomed 5 months ago in April. If that was this cycle’s low, historical data suggests the next #recession starts sometime between July 2019 and February 2021, but most likely March/April of 2020. If claims make a new low, the countdown resets.
  • #52,418
  • Sep 1, 2019 6:00pm Sep 1, 2019 6:00pm
Thanks
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  • #52,419
  • Sep 1, 2019 6:05pm Sep 1, 2019 6:05pm
Quoting MzansiObi
{quote} Tell us more why Fundies are good for gold bro....tah
#recession ... South Korea #August #Trade edition

Total #imports down 4.2% YoY
Total #exports down 13.6% YoY
#Exports to #China down 21.3% YoY
#Semiconductor #Exports down 30.7% YoY
  • #52,420
  • Sep 1, 2019 6:10pm Sep 1, 2019 6:10pm
#Gold/#Silver Ratio testing uptrend to the downside. Slightly crossed under the trendline (Sept. 1, 2019).
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