XAUUSD Technical Analysis 15.12 - 12.01: Ranging - page 3

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Gold daily chart, spotted a good bullish AB=CD harmonics pattern emerge. The key support will be 1180, the low made on 23 July this year.

Bullish AB=CD pattern

 
Heard the news today..gold mining companies are struggling due to low price. Below 1200 is not good them.
 
ROMAN5:
Heard the news today..gold mining companies are struggling due to low price. Below 1200 is not good them.
Why is it not good for gold Mining Companies? is it not good for everyone? Thank you.
 
PCWalker:
Why is it not good for gold Mining Companies? is it not good for everyone? Thank you.
The gold companies are making money from selling the gold but not enough to cover the costs (i.e. expenses, salaries, wages, bills). Have you seen the stock price of every gold company? Their chart looks not good. It can be a good price to buy but scary.
 
ROMAN5:
The gold companies are making money from selling the gold but not enough to cover the costs (i.e. expenses, salaries, wages, bills). Have you seen the stock price of every gold company? Their chart looks not good. It can be a good price to buy but scary.
I have not checked, but I guess if the R/S level have not been broken, then we'll have to wait to check them out.
 

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newdigital, 2013.12.21 18:05

Technical analysis for GOLD :

Gold Sheds Nearly 3% on Fed Taper- Bearish Tone Set for 2014 Open

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Gold was off sharply on the week with the precious metal plummeting more than 2.8% to trade at $1203 ahead of the New York close on Friday. Despite the magnitude of the weekly loss, bullion is set to close well off the lows of the week at 1187. Regardless, the metal is now set to post its first yearly decline in thirteen years and its largest yearly decline in 32 years. As the Fed begins to throttle down from its ultra-accommodative monetary policy stance, the outlook remains heavy heading into 2014.


 
matfx:

Gold daily chart, spotted a good bullish AB=CD harmonics pattern emerge. The key support will be 1180, the low made on 23 July this year.


You mean 23 June probably.
 
Elliott_Trader:

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newdigital, 2013.12.26 19:49

Based on Bear Market Cycle Bottom Forming in Gold and Gold Stocks Right Now article

  • The precious metal as we all know peaked in the fall of 2011 at $1923 per ounce, and the Bullish percent index was at 80%! Usually at 30% or so, they are bottoming out in most cases.
  • We saw a rare case in the summer of 2013 where the Bullish percent index for Gold stocks was at 0%, yes that is not a miss-print.
  • Gold bottomed at 1181 in late June 2013, and then rallied up to 1434 and we saw Gold stocks rally 40-80% in individual cases and the Bullish percent index rallied up to 55%.
  • If we fast forward to December 2013, we have Gold pulling back in the final 5th wave down from the Bull cycle highs in August 2011 at $1923. The Bullish percent index is back to 10% and heading towards 0 or close once again.* At the same time, the Gold miners index ETF (GDX) is at 5 year lows and even lower than June-July 2013 lows.

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