Golden Prospect Precious... Share Discussion Threads

[bamboo2] 27/9/2016 08:48

The Dollar Index[DXY] is often seen as the inverse of $gold. Since early summer the Dollar Index [UUP is the DXY ETF] has been making a Symmetrical Triangle and/or an unconfirmed H&S.

Based on averages, Bulkowski has figures that suggest a b/o happens around 73-75% of the length of the triangle, which means a b/o, one way or the other could be soon.



edit, have updated chart. Accidentally deleted old one from cache

[bamboo2] 26/9/2016 14:25

mf, Good sound rationale.
Been busy elsewhere and not noticed, thanks for the post
ps have seen the sec request, will look later.

edit, added. DXY looking weak

[mad foetus] 26/9/2016 14:17

Topped up my traders. Gold over 1340, sterling looking weak, US debate tonight, lets see what happens from here.

[stevieweebie2] 24/9/2016 09:54

Lol.Still, wonder why they felt they should sell, in this climate at this time. Curious

[dilbert dogbreadth] 24/9/2016 08:48

Poor old South Yorkshire pensioners

[greenrichard] 23/9/2016 23:00

August factsheet

[greenrichard] 23/9/2016 22:59

The big seller was South Yorkshire Pension Authority reducing from 6.2% (originally 8.6%) to under 3% (possibly zero)

[bamboo2] 23/9/2016 09:19

mf, good trading.

$gold price knocking on the upper trendline [red] overnight. Need a close above approx 1350 to break this resistance. See chart earlier in thread.

[mad foetus] 22/9/2016 16:09

Sold my morning purchase for 48.5. Still have some long tee holding. Gla

[llef] 22/9/2016 15:53

nice pop up this afternoon

[professor pettigrew] 22/9/2016 15:03

Almost priced for Armageddon.

I expect the discount to narrow quite sharply over the coming weeks.

[bamboo2] 22/9/2016 15:01

Added. Near term target min 49.7

LM, Bulkowski reckons Flags and Pennants are short, less than three weeks or 15 sessions. Beyond this they become triangles,channels or rectangles. Are you aware of any particular rules or limits?

The current GPM 'Flag' is now getting beyond Bulkowski's definition.

I calculated the above target treating it as a Symmetrical Triangle.

[eeza] 22/9/2016 14:55

Remains at 20% discount.

[llef] 22/9/2016 14:40

NAV over 57 now....

[wizard7] 22/9/2016 13:45

Let's hope the seller is pleased with their profits and doesn't wish they had stayed when they see this get up to new highs shortly. hmmm..hmmmm..hmmm

[dilbert dogbreadth] 22/9/2016 11:59

There you go a 400k sell has finally shown up. Thats probably it for now and the share price can move on its own accord.

[wizard7] 22/9/2016 11:27

Patience glasshopper....

[dilbert dogbreadth] 22/9/2016 11:14

Offers creeping up which suggests overhang has nearly gone

[mad foetus] 22/9/2016 10:35

Crazy - FRES is up 10% since its low yesterday - GPM up about 3%. Agree that there looks to be a seller lurking.

[luckymouse] 22/9/2016 10:34

LOL - gpm looks like a bear flag that wont go down and comex looks like a bull flag that wont go up #:)

[highly geared] 22/9/2016 08:09

Good price mad; cost me 46.3 and had to split purchases to get what I wanted. NAV likely to push 56p after over night rises so I'd expect GPM back around 48-50p quite quickly. H&S chart hasn't played out (yet) hopefully. The way seems clear in the short term for gold to rise a bit.

[eeza] 22/9/2016 08:05

There's been a large seller lurking.

[mad foetus] 22/9/2016 08:00

just bought 20,000 at 45.25. which I'm surprised at.

[dilbert dogbreadth] 22/9/2016 07:57

Prof most in the 'gold' space pay no attention whatsoever to the likes of CNBC & Bloomberg.
They will ofcourse be useful when the gold bull is in full swing bringing new investors in.

[professor pettigrew] 22/9/2016 07:51

A very interesting ten minute discussion on gold just now on CNBC.

Chap who heads commodities at Old Mutual says there is "a perfect storm brewing for gold", citing what I've quoted above re central bank money printing and lax policy.

Says there is "a couple of hundred dollars down and a few thousand dollars upside in the gold price over the next three years".

Job done. $3000 and £5 by 2020.