OASIS FORUM Post by the Golden Rule. GoldTent Oasis is not responsible for content or accuracy of posts. DYODD.

“early October 2019 new upside price leg.”

I like the sounds of that. Buy yer ticket and take yer chances.

I’m gonna have to have an extra drink just from watching that!

All the stock market futures indices still appear to be rolling over to the downside. Are the democrats attempting to break the stock market and blame Trump?

The equities are at a fragile point and could drop really fast if some world power does something stupid.

If December Comex gold holds the $1505 area tomorrow, we should get a good rally into the weekend.

rno

Trillions of Dollars will soon be seeking Safety & Security in Precious Metals

Chris Vermeulen – September 24, 2019

There has been a lot of talk from analysts and researchers that Gold prices could rally well past $5,000 if the markets collapse. One analysis came out recently and suggest Gold could rally above $23,000. We are a bit more conservative with =.Just as we predicted, precious metals are setting up another extended momentum base/bottom that appears to be aligning with our prediction of an early October 2019 new upside price leg.

Recent news of the US Fed decreasing the Fed Funds Rate by 25bp as well as strength in the US stock market and US Dollar as eased fears and concerns across the global markets. These concerns and fears are still very real as the overnight credit market continues to illustrate. Yet, the precious metals have retraced from recent highs and begun to form a momentum base which will likely become the floor for the next move higher.

The one aspect that many traders don’t grasp just yet is that the US market could continue to push higher, just as they’ve done over the past few months, while precious metals continue to push higher, just as they’ve done over the past few months. The reality is the fear and greed driving the upside price move in metals is related to foreign market concerns (China/Asia, Europe/EU/BREXIT, Arab/Iran/Israel, and others). The true fear is that some type of war or economic event will start while the global markets are fragile. The recent news that the overnight Repo Market is seizing is another indication that the global credit market is very fragile. What will it take to launch metals higher? We believe the world is waiting for this next event to happen while this momentum base continues to set up.

GOLD DAILY CHART

This Gold Daily chart highlights the momentum base setup between $1480 and $1525. Any entry below $1500 is a relatively solid entry point for skilled technical traders. The next upside target based on our Fibonacci price modeling tool is $1795. Thus, the real upside move potential at this point is another 20% for Gold.

SILVER DAILY CHART

Silver is setting up a similar momentum base pattern after reaching levels just below $20 per ounce. We still believe the early October breakout date is relevant and we believe the next upside target will be between $21 to $24 in Silver. Any entry level below $17.60 is a solid area for skilled technical traders preparing for the next upside price leg.

There has been a lot of talk from analysts and researchers that Gold prices could rally well past $5,000 if the markets collapse. One analysis came out recently and suggest Gold could rally above $23,000. We are a bit more conservative with our initial upside target of $3,750.

The bottom line is you really don’t want to miss this opportunity in the precious metals markets once it forms a bottom and starts to rally. This recent price rotation is a gift for skilled technical traders. If you were to take a minute and really consider how precious metals would react to a foreign market credit collapse on top of the potential for a collapsing economic outlook resulting from the credit collapse, you’ll quickly understand that trillions of dollars will be seeking safety and security in the metals markets in due time.

=END-

I was this guy. Just walking and next thing you know I found the bar of my dreams. Never mind the bus, we have beer to drink…hehe

*Dennis Gartman…

Given the economic weakness developing in Europe, the monetary AND the fiscal authorities have no choice but to err expansionarily. It is that or face an angry electorate since the introduction of the EUR two decades ago, the gold price in EUR terms has risen just over 350% or on average a bit more than 7.5%/year. Since May of ’18, gold in US$ terms has risen from approximately $1310oz then to $1530 or 16.8% while gold in EUR terms has risen from €1050/oz then to approximately €1390 or 32.3%.

No clue how you chart this with any reliability. Maybe downside is predictable but certainly not upside.

Nonetheless folks claim they can do it, I just rarely see them do it when upside come out of nowhere or even downside. How did anyone know yesterday that silver would get plastered today? even gold for that matter?

Snooze. No doubt people will be surprised tomorrow.

I’d try pretty damn hard for the HUI to fail technically … like violate the neckline on a head and shoulders formation.

As far as today goes … anyone catch the number of that bus? Ouch!

Hate to say it, but it looks like we are doing an A-B-C correction and the rally to 1535 plus was B, A was the drop from 1557 to 1485 etc, they both took 3 weeks….C should take @ same time…

That’s the theory.

Cheers

rising out of the pits of zool!

did we just see a “wash out bottom?”

All Hail Larry….errr….All hail the scum….just amazing how they held it all together over the Saudi attack,,it is now like it never happened.

King dollar—all hail Larry Kudlow-!!

Thanks, agreed on all that. The libtards seem very emotional immature. I heard Ron Reagan said something like “The liberals aren’t dumb or stupid, its just that everything they know is wrong.” Or isn’t so.”

I guess everything they know came from the fake news media. Im-proganda.

A .006 % move higher in the $USD equates to a .03% move lower in Silver and a .017% move lower in Gold?

Good post. They sure did suppress gold, outright manipulated it. Still look to be doing so. Gold wants to go up but caution on just how fast, so does dollar a bit more and even the Dow does long.
If they can keep the mouths of the likes of Biden, Pelosi, and no credibility Shifty Eyed Shift under control. Reminds me of the Obama days where they promoted whistle blowers as long as it wasn’t about them. Now they don’t even need whistle blowers they can just pay someone to make things up. Hope that’s a big reminder what path they’d take this country and others down if they got back power with their circus show hopefuls.

We got a strange formation maybe because of politics of natural flow and going against divergence. Dow wants to go lower for awhile.
Bigger picture if support can’t hold and if it can’t take out old highs. I see “ immediate” support for directional rise around 1510. Not saying if it’s breached it’s over yet. Dow declined gold moved up. Dollars still a hedge.

Looks like the $1505 area may hold today. Last support is $1486. If that doesn’t hold, we confirm a H&S top.

rno

Luckily. I have no trades…but I have had 3. losing trades I was too ashamed to mention…pissing. away. some of  my cleverly.  gained profits…lots of. head fakes and shenanigans in this sector…I am focusing. a lot of my. attention to my beloved. GUSH…I think it can be bought in this range–crude has dropped 8 plus. bucks off its war high. It’s where it was before the strike–so all  THE WAR PREMIUM has gone…which ain’t. right…

It looks to me like the US Dollar and Gold are BOTH higher together on 5 year charts. So they are taking turns weaving and bobbing together alternatively along the way. Two or three ways to look at this.

#1 Either BOTH are naturally considered important to have and to hold. Or.

#2 The bankers are un-naturally pushing the dollar higher to subdue or slow, gold’s climb. We saw this 1970 to 1980. 6% to 21% prime rates. While Gold went $140 in ’70  to $800 in ’80. Then the $800 to $250 around 2001 with a “strong dollar policy” ’01 to ’08 probably for importing (more and better welfare for other countries to export, sell to US consumers).

#3 Keep in mind TPTB bankers in general, are always concerned about the gasoline prices hurting the working masses. General public. Take note, the “manipulators” have retail gasoline, and retail diesel fuel, (heating oil) about the same price. That is a TOTAL un-natural distortion of true value.

Note below. Dollar higher than five years ago, note manual, man made abrupt fake adjustment June 2014: Gold should be lower inverse Dopey/Dollar. But tptb suppressed gold for too many years and now the un-natural artificially distorted value low price is righting itself.

https://finviz.com/futures_charts.ashx?t=CURRENCIES&p=m1

Note below Gold higher than 5 years ago even though Dopey/Dollar headwind is higher over 5 years.

https://finviz.com/futures_charts.ashx?t=METALS&p=m1

scum will love it.

JNUG has fallen back to support and closed a gap from the recent rally. It really needs to hold this support and rally into Friday.

rno

Gold is testing the former resistance, now support at $1520., the 20 day moving average.   I’m guessing it will close here and tomorrow will indicate the future direction. There is more support around the $1505 area.

rno

Goes to show you what confidence the world has for the left. Nada Confidence the left wants to finish their attempt to destroy nations from within is all. The death throes of socialism. Gold will have its place nevertheless. If they can’t get to us they will try and are trying to get to the children to confuse and dumb them down to get more future votes and control them. If they grew to be smart they would realize how corrupt and plain stupid they are. Looks like Pelosi is gonna get what she wants. In the process she has become their useful idiot and she can no longer control her much smarter “ satire” constituents making fools out of themselves for want of power. She’s been eroding California for years with the same stupid BS. They are losing their grip with getting out of accountability.
Gold will always have its place. The banks are salivating over a cashless economy where they and swamp can have all the control and set negative interest rates to infinity.
People from other countries are moving to dollar right now because they see trouble and mismanagement with their own banks or economy while Germany is continuing its war on gold perhaps hoping others will follow.

I agree. Doesn’t take much to give them a reason to take down pm’s although I guess in some ways today at least makes a little sense with the strength in the USD and rates.

We’ve been having pretty good closes lately, maybe we’ll regain some ground as the day goes on. Some of the shares are really getting smashed today, I’d like to see them show some life as we get toward the close. Who knows?

Totally agree with your insights. I
Guess I still struggle with the way our
Markets react to “words” rather than
Tangible facts……