Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

Gold Seeker Weekly Wrap-Up: Gold and Silver Gain Over 1% and 2% on the Week
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 11 17 2017
By: Ira Epstein

Next-Generation Crazy: The Fed Plans For The Coming Recession
By: John Rubino

COT Gold, Silver and US Dollar Index Report - November 17, 2017
By: GoldSeek.com

Gold Minersí Q3í17 Fundamentals
By: Adam Hamilton, CPA

Bonfire of the Absurdities
By: John Mauldin

The Social Security Inflation Lag Calendar - Partial Indexing Part 1
By: Daniel R. Amerman, CFA

Rob From The Middle Class Economics
By: Gary Christenson

GoldSeek Radio Nugget: John Williams and Chris Waltzek
By: radio.GoldSeek.com

The Metals Market Is A Mess And Will Likely Continue To Frustrate You
By: Avi Gilburt

 
Search

GoldSeek Web

 
Gold Ownership: A Golden Wave


 -- Published: Tuesday, 19 September 2017 | Print  | Disqus 

Graceland Updates

By Stewart Thomson

 

1.    Several weeks ago, I surprised most investors by issuing my ďBook Profits Now!Ē call for the precious metals asset class.

2.    When I did so, head and shoulders top formations immediately formed on gold and GDX, and prices have swooned.

3.    Rumours of a sudden drop in Indian dealer demand appeared to become a concern for commercial traders on the COMEX.

4.    Indiaís monsoon season has turned out to be a bit of a ďbustĒ, with both flooding and drought.  Farmers buy gold with a portion of their crop profits.  With only another week or two left in the monsoon season, crop sales may not be very good.

5.    Of further concern to me was the fact that the demand drop was occurring as gold arrived at the $1352 resistance zone.  That resistance was created by Modiís cash call-in that took place in November of 2016.

6.    The upcoming Fed meeting will probably mark the end of the decline related to those concerns, but there could be additional weakness until the next US jobs report is released.

7.    Please click here now.  Double-click to enlarge.

8.    For investors, this gold chart tells the entire tactical story.  The $1270 - $1260 area is the target of the H&S top pattern.

9.    Investors should use a two-pronged strategy to profit from the coming rally that should take gold back to the ďCall-In DayĒ resistance around $1352.

10. Iíve outlined the $1315 - $1295 price area as the first key buy zone.  Eager accumulators can buy right now.

11. Janet Yellenís handling of the imminent launch of quantitative tightening (QT) at this Fed meeting is critical. 

12. It will almost certainly determine whether gold bounces from the $1315 - $1295 buy zone or first proceeds down to the H&S target zone at $1260 -$1270.

13. If gold moves to that lower zone, investors need to consider taking more aggressive buy-side action. 

14. Thatís my personal strategy as well as my recommended one for gold bugs around the world.

15. Please click here now. Double-click to enlarge this GDX chart.

16. The technical picture for GDX is very similar to gold. Note the small but positive wedge pattern.  Iíve highlighted it with thick black trend lines.

17. While the target of the H&S top pattern is about $22.50 (similar to the $1260 - $1270 target for gold), the wedge formation could send GDX and most gold stocks higher from current price levels.

18.  Please click here now.  Double-click to enlarge this US dollar versus Japanese yen chart.  My important 14,7,7 series Stochastics oscillator is now overbought, and thatís happening just ahead of the Fed meeting.

19. Heavyweight analysts at Japanese bank Nomura are predicting a collapse in the dollar down to the 105 Ė 100 target zone by the end of the year. 

20. Thatís also been my target zone for quite awhile, and itís because the dollar is trading in a rectangle between 108 and 114. 

21. The technical odds of a breakdown to 100 -105 are about 67%.  Also, rallies tend to be week when oscillators become overbought quickly, and thatís whatís happening now.

22. Please click here now. This chart tells the entire story for the precious metals asset class.  Itís dramatically under owned, and thereís a beautiful double bottom pattern in play.

23. Gold and associated assets are clearly poised for an enormous increase in institutional ownership.  I call it ďThe Golden WaveĒ.  This buying is not event-based.  Itís based on portfolio allocation to gold as an asset class, and that means the buying will be sustained.

24. Gold bugs around the world can use my key prices zones of $1315 - $1295 and $1260 - $1270 now to get tactically positioned in key gold stocks to surf the golden institutional wave!   

 

Thanks! 

Cheers

St  

 

Stewart Thomson 

Graceland Updates

 

Note: We are privacy oriented.  We accept cheques, credit card, and if needed, PayPal.

 

Written between 4am-7am.  5-6 issues per week.  Emailed at aprox 9am daily.

 

https://www.gracelandupdates.com  

https://gracelandjuniors.com    

www.guswinger.com  

 

Email:

stewart@gracelandupdates.com  

stewart@gracelandjuniors.com 

stewart@guswinger.com  

 

Stewart Thomson is a retired Merrill Lynch broker. Stewart writes the Graceland Updates daily between 4am-7am. They are sent out around 8am-9am. The newsletter is attractively priced and the format is a unique numbered point form.  Giving clarity of each point and saving valuable reading time.

 

Risks, Disclaimers, Legal

Stewart Thomson is no longer an investment advisor. The information provided by Stewart and Graceland Updates is for general information purposes only. Before taking any action on any investment, it is imperative that you consult with multiple properly licensed, experienced and qualified investment advisors and get numerous opinions before taking any action. Your minimum risk on any investment in the world is: 100% loss of all your money. You may be taking or preparing to take leveraged positions in investments and not know it, exposing yourself to unlimited risks. This is highly concerning if you are an investor in any derivatives products. There is an approx $700 trillion OTC Derivatives Iceberg with a tiny portion written off officially. The bottom line:  

Are You Prepared?

 

 


| Digg This Article
 -- Published: Tuesday, 19 September 2017 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2017



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.