Gold Gold Daily Video, March 05, 2020

[Sive Morten]

Good morning,

Today we do not have big changes on gold, but few moments makes us to stay aside from any bearish trades by far:

 

[minimax]

Agreed, my view on Gold: we could be in triangle as 4th wave of an impulse with shalow 23% retrace. Because 3rd did not hit 162% 5th could be extended. We should get whatever today or time frame changes and brings new options.
Here is the problem with DJI30: it did not hit 50% so I expect to hit this level and then goes into deeps, although everything looks optimistic, but virus is the reason (?) to change wealth from stocks to gold.

 

[Sive Morten]

it did not hit 50% so I expect to hit this level and then goes into deeps, although everything looks optimistic, but virus is the reason (?) to change wealth from stocks to gold.

Yep. Now the real question - for how long all these stuff, especially on Gold. Short -term push is great, but what is behind except Fed extra meeting...

 

[Tryingtrader]

I think we can expect a lot more meddling by the Fed... more direct interventions, more rate reductions and more printing - until it all blows up. They are in too deep now to stop!!

 

[Tryingtrader]

This can only be good for gold in the long run... it is the true store of value and wealth - soon everyone will want it!!

 

[minimax]

Yep. Now the real question - for how long all these stuff, especially on Gold. Short -term push is great, but what is behind except Fed extra

FED can not stop this moves and why would they, they are the greediest and they will make the biggest money.
I think we are in expanded ending diagonal in 5th wave and sky is the limit, well I mean above 2.000 $ per oz, my expectation is around 2.500 before correction and DJI30/Gold ratio is to observe.
Gold stopped at 162 as 3rd wave and now is the question how PA will behave. If price drops, but should not, below 1631,958 we get deeper move down, above this level also ending diagonal is possible as 5th wave.

 

[minimax]

I think Cable is ready..