Just look up what the realy happing :
Here are the important exhaustion countertrend rallies since the 08/23/2011 all-time highs (1934.60/GCZ2 contract):
08/25/2011-09/06/2011: 8 Days. Low 1718.3 – High 1934.00. 216$ rally. Average rise/day 27$. No daily Fibonacci Retracement.
10/20/2011-11/08/2011: 14 Days. Low 1616.4 – High 1815.00. 199$ rally. Average rise/day 14$. One retracement during whole rally. 3 days of retracement within the 14 day rally, retracement level near 48%.
12/29/2011-02/29/2012: 42 Days. Low 1536 – High 1800.90. 265$ rally. Average rise/day 6.30$. One retracement during the whole rally. 10 days of retracement within the 42 day rally, retracement level near 24%.
Current 08/15/2012-09/07/2012: 18 Days. Low 1592.10 – High 1745.40. 153$ rally. Average rise/day 8.15$. One retracement during whole rally. 5 days of retracement within the 18 day rally, retracement level at 38.2%
The actual gold rally of the last 18 days has performed so far as the three important counter-trend bear-market rallies since the all-time high of August 23, 2011 did! It doesn’t show any considerable correction.
I don’t want to make it rain to no bull’s parade, but we bulls mustn’t be too euphoric. The actual rally is really and truly feeling like a monster up-wave that might easily lead gold to speedy new all-time highs, but it is also showing signs of a countertrend rally. In addition – another warning signal – the commercials don’t have any intention to change ends, at the contrary also last week they increased their short-positions massively in the COMEX. That is also pointing to the chance that the evil sheriff will have gathered his troops soon so he might strike back unexpectedly.
Technically both precious metals are in SUPER TREND as I hinted continously in my last issue but now I also looking for FOMC meets held on 09/12/2012.
TRADING STERTGY
GOLD FUTURE : We bought position on 08/31 at $ 1685-86 and look to profit booking at $ 1755-60 level at the begining of this week. Again will wait for a dip or as per Fed meeting ( buy the rumor and sell the fact )
SILVER FUTURE : We bought at $ 30.30 and hited our all tgt ($ 32.90 closing $ 33.71) now we just modify our SL to $ 32.68 and wait for FOMC statement.
Would you, too, like profit from the monster-wave in the precious metals on large scale? Do u require a service that, monitor , control , analyzis and Signal for you all improtant move in Gold and Silver? If so,
GO AHEAD and Join us : +91 895-8173-410 or http://hansrajconsualtant.tk
WEEKLY TRADE LEVELS FOR GCZ12
RESISTENCE #2.......................... $ 1780
RESISTENCE #1.......................... $ 1760
PIVOT ......................................... $ 1725
SUPPORT #1............................... $ 1705
SUPPORT #2............................... $ 1680
Happy Trading
Rahul Kumar
Gold Specialist (Future & Spot)
write me : comexgoldfuture@yahoo.com
Here are the important exhaustion countertrend rallies since the 08/23/2011 all-time highs (1934.60/GCZ2 contract):
08/25/2011-09/06/2011: 8 Days. Low 1718.3 – High 1934.00. 216$ rally. Average rise/day 27$. No daily Fibonacci Retracement.
10/20/2011-11/08/2011: 14 Days. Low 1616.4 – High 1815.00. 199$ rally. Average rise/day 14$. One retracement during whole rally. 3 days of retracement within the 14 day rally, retracement level near 48%.
12/29/2011-02/29/2012: 42 Days. Low 1536 – High 1800.90. 265$ rally. Average rise/day 6.30$. One retracement during the whole rally. 10 days of retracement within the 42 day rally, retracement level near 24%.
Current 08/15/2012-09/07/2012: 18 Days. Low 1592.10 – High 1745.40. 153$ rally. Average rise/day 8.15$. One retracement during whole rally. 5 days of retracement within the 18 day rally, retracement level at 38.2%
The actual gold rally of the last 18 days has performed so far as the three important counter-trend bear-market rallies since the all-time high of August 23, 2011 did! It doesn’t show any considerable correction.
I don’t want to make it rain to no bull’s parade, but we bulls mustn’t be too euphoric. The actual rally is really and truly feeling like a monster up-wave that might easily lead gold to speedy new all-time highs, but it is also showing signs of a countertrend rally. In addition – another warning signal – the commercials don’t have any intention to change ends, at the contrary also last week they increased their short-positions massively in the COMEX. That is also pointing to the chance that the evil sheriff will have gathered his troops soon so he might strike back unexpectedly.
Technically both precious metals are in SUPER TREND as I hinted continously in my last issue but now I also looking for FOMC meets held on 09/12/2012.
TRADING STERTGY
GOLD FUTURE : We bought position on 08/31 at $ 1685-86 and look to profit booking at $ 1755-60 level at the begining of this week. Again will wait for a dip or as per Fed meeting ( buy the rumor and sell the fact )
SILVER FUTURE : We bought at $ 30.30 and hited our all tgt ($ 32.90 closing $ 33.71) now we just modify our SL to $ 32.68 and wait for FOMC statement.
Would you, too, like profit from the monster-wave in the precious metals on large scale? Do u require a service that, monitor , control , analyzis and Signal for you all improtant move in Gold and Silver? If so,
GO AHEAD and Join us : +91 895-8173-410 or http://hansrajconsualtant.tk
WEEKLY TRADE LEVELS FOR GCZ12
RESISTENCE #2.......................... $ 1780
RESISTENCE #1.......................... $ 1760
PIVOT ......................................... $ 1725
SUPPORT #1............................... $ 1705
SUPPORT #2............................... $ 1680
Happy Trading
Rahul Kumar
Gold Specialist (Future & Spot)
write me : comexgoldfuture@yahoo.com
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