Gold Daily Video, 11 April, 2016

[Sive Morten]

Good morning,

We continue to monitor preterm gold upside reversal. Currently chances on H&S pattern are melting and final clarity should come around 1260 area:




The technical portion of Sive's analysis owes a great deal to Joe DiNapoli's methods, and uses a number of Joe's proprietary indicators. Please note that Sive's analysis is his own view of the market and is not endorsed by Joe DiNapoli or any related companies.

 

[Brett Reynolds]

If you assume that we are 'on the verge' of a 'New Bull trend'..then i cannot help think that 'all those orders and stops placed right back down near 1130..would have to be 'collected first'!? Right..!?

 

[Sive Morten]

If you assume that we are 'on the verge' of a 'New Bull trend'..then i cannot help think that 'all those orders and stops placed right back down near 1130..would have to be 'collected first'!? Right..!?

Hi buddy,
I'm not quite understand the logic actually, I mean relation between stops below 1130 and new bulltrend. BTW, why any stops should be below 1130? What we have special @1130?

 

[Brett Reynolds]

Very simple. If H&S is completed at 1260 area then you take Top of Head 1283 down to neckline-1207 approx then this is 75 right!? So Top of Head ( 1282-74=1128 area). Look at where 1127 area is.? Inverted H&S on weekly/Monthly!?

 

[leo4fx]

I guess he means that usually in FX big players push the price against the trend to generate liquidity. One good look at the GDX tells me that not many believe the BS and the fake comex prices anymore. Blackrock is mass dumping Japanese stocks & Today there is an emergency meeting at the FED so expect more QE in the near future & following that, more demand on GLD.