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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (121790)	3/14/2019 2:20:14 PM
From: yard_man	Read Replies (1) \| Respond to of 222892

I don't do futures ... if you were in for the whole 1% drop in the April contract that happened today ... what % could you make if you closed out on 1% drop?

To: GROUND ZERO™ who wrote (121790)	3/14/2019 4:05:48 PM
From: the longhorn	Read Replies (1) \| Respond to of 222892

A few quick observations...quick since I'm on the clock at work. And hoping these are helpful. Gold has had this pattern the last couple of months of running up fast, then backtracking and refilling. The first two times I expected a breakdown from a bearish triangle. Instead it jumped. It finally did the backtrack the third time and faked me out big time. Bounced hard off resistance at 1311. FOMC is coming up next week and a lot of momentum went to the main side of the market the past couple of days. So its consolidating. Support at 1293 held. Should be tested again a few times over the next few days. Minor support...I think it will break. Just a guess. 1291 needs a test. Was skipped over on the way up pretty much. I think it holds. If not, we get a retest from above at the 1287 level. Heavy volume there over several days and a major line in the sand. If it breaks, the notion that we are in a gold bull seems to me to be in question. HUI went wimpy yesterday on the short term. Gapped down this morning sharply. It's running flat now...watching gold price. I'm betting 1291 is the bottom and HUI starts ramping shortly in advance...maybe Weds in conjunction with FOMC...which I think will be dovish. Kind of the map I'm following right now anyway. longhorn