peterbokma

I feel that we may see strong downward move coming months. It has been trying to maintain its heights, but the evening star and shape of GANN angle, I think the chances are there for a sharp decline. I suspect $ 80 - 62k potential. Strategy SELL @ $ 108-120 k and take profit initially @ $ 84k

GOLD is way overbought, and yes one can find reasons for the increase of value, but we should understand that the value is overdone. I feel strongly at a personal viewpoint, that a decline back towards $ 2,900 area is very possible. Strategy SELL medium-term between $ 4,000-4,350 (or add even when short since $ 3,800 is fine). Take profit between $ 2,900-3,100. also note I will be providing lesser updates, due to a lot of activities and managing funds, making it a little difficult to update regularly.

It has been impressive moves till now, and we hear clearly what the forecasts are, i..e. $ 500k by 2030 etc. Happy for those longs, if it does. Technically we are very overbought for a long-time now, and also the chances are for a solid correction is there. the GANN SQ surely suggest ther higher side still could be $ 130k or so, but the return level $87 k and $ 63 k seems very possible from a correction stand point of view. for the medium-term. Markets are very long adding to that, and if they start unloading in large quantities, moves down will be extremely sharp. Anyway, this is my personal view, and let's see what will happen next.

GOLD is remaining extremely overbought since $ 3,600 upwards. It's a longer term viewpoint, hence the movements short-term are not relevant when managing long term positions, and one should expect not being able to fish for the top :). anyway, the RSI is in uncharted waters, but history tells us that this correction will be imminent. I remain in the believe and holding onto shorts adding slowly, i.e. careful adding to shorts with low leverage for the awaited correction. Strategy SELL between $ 3,700-3,900 (and even lower before) and take profit near $ 2,950.

it's manipulative investment, which means a turn around will be as swift as it's up-move we have been observing. For now, RSI shows negative divergence, and the reg.channel boundary is current $ 125 - 80 k. Lower down is $ 78 k support, and considering the overall view, the down side is possible based on over bought state, and also the likely turning of the indicators such as Fisher Form and MACD. Streategy SELL @ $ 110-120 k and take profit near $ 75-80 k.

GOLD is still controlled by the bulls, but am very cautious about this, since we are very overbought and the correction towards $ 2,750 is very plausible, but not in short-term time frame though, is my personal viewpoint. Indicators are positive still but the market status warns we should take care on long side. Strategy SELL @ $ 3,625 - 3,675 and take profit near $ 2,975 for now.

The longer-term picture clearly shows we are overbought on the extreme side, and a major correction is imminent. However, short-term we are still positive, but for those that are able to trade medium-term to long-term, scaling in slowly on sell side may be a reasonable strategy to have. Strategy SELL between $ 3,500 - 3,800 and take profit near $ 2,850 for now. This should be carefully done with proper levering and scaling in, is my personal viewpoint.

It has some short-term upside and I feel we may get to $ 4,750 before we will move south again. Overall, I think it may test $ 3,750. Strategy SELL @ $ 4,650 - 4,800 and take profit near $ 3,850 for now.

The medium-term is very overbought and still feel $ 2,750 attainable.Short-term we should see $ 3,350 area initially. The move beyond the channel is unsustainable is my personal view. Strategy SELL (or add) @ $ 3,510 - 3,575 area and take profit near $ 3,375

Short-term maybe slight upward pressure, but from a medium-term basis, I feel we may see $ 3,750 again. The indicators are negative, and there is room within the Reg. Channel to see lower over-time. Strategy SELL $ 4,400-4,800 and take profit near $ 3,780 for now.