Tuesday, June 23, 2015

Gold shows further signs of weakness

Gold didn't manage to break the resistance zone of 1190-1200 and now is moving towards a minor support zone at 1175 which is another proof of gold price action weakness.

We believe that 1175 level is a weak support and probably will not hold.In this case gold will probably move initially towards 1160 where there is some support and if it breaks towards 1140.

The big picture for gold remains bearish.



Tuesday, June 16, 2015

Another 35% fall for Gold Miners(HUI,GDX)?

Gold Miners (HUI, GDX) are currently confined between a major descending trendline from 2011 and a major support at 150(HUI)/17(GDX)

Soon something must give way and if our current Gold EW count (Is Gold starting a Major Decline towards sub-1000$?) is correct a possible scenario could be the following:
If Gold Miners break the 150(HUI)/17(GDX) support then the next major support is approximately 35% lower at 100(HUI)/11(GDX).
  

Monday, June 15, 2015

Markets View for the week starting 15.06.2015

Status Changes
GBPEUR: Bearish-Neutral---->Neutral

New Targets
DAX: 10.370
FTSE 100: 6.530


Monday, June 8, 2015

Markets View for the week staring 08.06.2015

Status Changes
FTSE: Bullish---->Bearish
EURUSD: Neutral---->Bullish-Neutral


Friday, June 5, 2015

Is Gold starting a Major Decline towards sub-1000$?

Back in late April(Gold and Miners ahead of FED meeting) we suggested the following pathway for Gold

Recently Gold completed the C wave of an ABC correction and we believe that currently is in wave 1 or 3 of 3.If Gold confirms our case we are about to witness a major decline of gold towards 1070-1060$.Immediate targets 1162$ and then 1122$.

If we are in a third wave then probably we are going to see Gold initially at around 1070 and then maybe even 930$
Currently Gold can invalidate our scenario  if it moves above 1190$