Tuesday, February 17, 2015

Gold Trend Feb 17, 2015

Long Term ~ Bearish-Need a monthly close above 1800 to confirm the bull market 
final phase underway. Need a monthly close above 1560 to neutralize the trend.
Medium Term ~ Neutral– Gold has been upgraded to neutral, but just barely.
Intermediate Term ~ Bearish– Need close above 1272-1285 for full bullish
Short Term ~ Bearish- Must hold 1216-1222 or lower to 1190-1200

Initial Resistance 1234-1243 2nd tier 1247-1255

Support 1216-1222 2nd tier 1197-1207

The last update had resistance at 1237-1243 and the high since then is 1235. 
Support was listed at 1216-1222 and the low since then is 1218 (Tuesday morning).

Silver Slammed As Stocks Rally Back To Scene Of EU Crime

Submitted by Tyler Durden on 02/17/2015
US equities have miraculously recovered their EU-Greek talks-breakdown losses from yesterday in a mad buying panic reminiscent of the very best work from FBRNY. As if that did not confirm everything was awesome in the status quo, silver (and to a lesser extent gold) have been take to the woodshed this morning. Treasury yields are still down 2bps from Friday's close but have jumped 3-4bps on this morning's exuberance. The dollar has given back all of yesterday's gains and then some and is now -0.2% from Friday.

Greece: What Happened Monday, And What Happens Next

Submitted by Tyler Durden on 02/16/2015

Ultimately, then, we are still left with the same three-step process to reach a conclusion to the Greek crisis.

•Step 1 consists of a request for a new program or an application for a 3rd ESM program with Greece committing to some a prior conditionality.
•Step 2 consists of negotiating the substance around this conditionality, in particular the prior actions that would need to be fulfilled to disburse funding to Greece.
•Step 3 would consist of passing such prior actions through the Greek parliament and ultimately servicing Greece's loan obligations.

The more each of these steps is delayed, the shorter the timespans available and the greater the risks of failure.

Latest Greek Negotiations Fall Apart; Risk Slides After Greece Says "Won't Take Orders On Bailout"

Submitted by Tyler Durden on 02/16/2015


That didn't last long. It seems - just as earlier in the week - the ability for either side in this Euro-system death match game of chicken to find any common ground to even start negotiations remains lost: GREEK GOVT OFFICIAL SAYS THAT "THERE CANNOT BE A DEAL TODAY", EUROGROUP DISCUSSED "UNREASONABLE", "UNACCEPTABLE" DRAFT TEXT INSISTING ON EXTENDING BAILOUT. In fact, reports sya that the text presented was a reversal of last Thursday's agreement... The Germans are now calling for Tsipras to replace Varoufakis at the negotiating table.

World War 3, The Big Prize, & Europe's Gigantic Debt Minefield

Submitted by Tyler Durden on 02/16/2015

In case anyone didn’t get ISIL’s message from their latest video in which 21 Egyptian Coptic Christians have their heads sawn off, here it is: “We’re executioners, not warriors.” The Big Prize, of course, is the grand fortress of Saudi Arabia. The kingdom is surrounded by Islamic maniacs now and if Saudi Arabia falls apart, it’s game over for modern life as the West has known it (and much of Asia now, too). But Europe is a gigantic debt minefield that no one can really walk across. Other parts of it than Greece are just waiting to blow up, and will, and it’s unclear whether Europe is even paying attention to the blood-red welcome mat that was laid out in Libya last weekend.

Cometh The Censor

Submitted by Tyler Durden on 02/16/2015

Washington is stepping up its campaign to censor the internet. It had to come, and will succeed. It will put paid forever to America’s flirtation with freedom. We are hard pressed to think of a society in such internal decline that has turned itself around, and we cannot imagine how America might do so. One sure thing is that, once the internet is gelded, there will be no hope at all. And the assault has begun.

Gold Short Term

Price is again at 1st support for the week at 1216-1222 which is also a weekly reversal zone so it an important point. If we happen to lose 1216 during the day, than 1197-1207 zone will come into play on Tuesday. Resistance is the 1234-1243 area. Odds favor we either bottom at this 1220 area on the short term or near the 1200 area. Overall the short term trend is still down.

Gold since the 2014 low price chart

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 Do your own due diligence. 
No one knows tomorrow's price or circumstance. 
 I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader. 
I do not accept responsibility for being incorrect in my speculations on market trend. 
 King Regards