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 ~ Bearish– Need a monthly close above 1223-1242 to remove bearish trend.
Intermediate Term ~ Bearish– Need close above 115 in GOLD ETF GLD to turn trend up.
Short Term ~ Bullish- Short term cycle low most likely in place with rally to April 3rd underway.
Medium Term ~ Bearish– Need a monthly close above 1223-1242 to remove bearish trend.
Intermediate Term ~ Bearish– Need close above 115 in GOLD ETF GLD to turn trend up.
Short Term ~ Bullish- Short term cycle low most likely in place with rally to April 3rd underway.
Need to maintain a close above 1152 to stay in bullish mode.
Initial Resistance 1172-1182 2nd tier 1193-1198
Support 1155-1162 2nd tier 1142-1146
The last update listed resistance at 1175-1182 and the high was 1177.
Support was listed at 1155-1162 and the low was 1159.Initial Resistance 1172-1182 2nd tier 1193-1198
Support 1155-1162 2nd tier 1142-1146
The last update listed resistance at 1175-1182 and the high was 1177.
We Must Rethink "Everything" If We Are To Survive This Strange New World
Submitted by Tyler Durden on 03/19/2015
These negative rates that we see in Europe are a first glimpse of fiat currency destruction due to imploding economies. And again the negative rates are nominal rates meaning they are negative by way of something beyond inflation. Specifically they are moving to their natural minimum state of valueless because the economy is no longer strong enough to provide alternative investments for the fiat currency. Fiat currency is shown then not to be a store of value whatsoever, but only a representation of strength of its respective economy. As the economy goes to zero so does the value of its currency. This point is exceedingly imperative to understand in our current global environment.
Even Ed Yardeni Admits "This Is Not Investing... The Markets Are All Rigged"
Submitted by Tyler Durden on 03/19/2015
"This is not investing," exclaims Ed Yardeni in this brief clip, "it is all about central bankers... these markets are all rigged." That is not a criticism he notes, "I just say that factually... I love these central bankers, they've been very good to the stock market." The clip is then followed by a defense of this pumping by central banks, because "we are a 401(k) society." Which apparently ignores the whole "massive inequality gap" issue that is staring America right in the eyes... But for now stocks are up so "shut up and enjoy it" as Larry Kudlow said.
While GoldTrends has been very bullish on the US dollar we are in the camp that this explosion higher is the last hurrah for the sawbuck and once this final rally is over, the US dollar will begin is descent into failure and the growing forces of the future will remove its reserve currency stature.
De-Dollarization Accelerates As More Of Washington's "Allies" Defect To China-Led BankSubmitted by Tyler Durden on 03/19/2015
The global de-dollarization trend continues as it appears the UK’s move to join the China-led Asian Infrastructure Development Bank has indeed shown other US “allies” that spurning Washington’s advice is actually acceptable and concerns about the institution’s “standards” may simply be a diversion aimed at undermining China’s attempt to exercise more influence in its own backyard. Here’s more from the NY Times:
Ignoring direct pleas from the Obama administration, Europe’s biggest economies have declared their desire to become founding members of a new Chinese-led Asian investment bank that the United States views as a rival to the World Bank and other institutions set up at the height of American power after World War II.
The announcement on Tuesday by Germany, France and Italy that they would follow Britain and join the Chinese-led venture delivered a stinging rebuke to Washington from some of its closest allies. It also called into question whether the World Bank and the International Monetary Fund, which grew out of a multination conference in Bretton Woods, N.H., in 1944 and established an economic pecking order that lasted 70 years, will find their influence diminished.
The announcement by Germany, Europe’s largest economy, came only six days after Secretary of State John Kerry asked his German counterpart, Frank Walter-Steinmeier, to resist the Chinese overtures until the Chinese agreed to a number of conditions about transparency and governing of the new entity. But Germany came to the same conclusion that Britain did: China is such a large export and investment market for it that it cannot afford to stay on the sidelines.
South Korea, another US ally that the Obama administration has not-so-subtly lobbied to stay out of the AIIB for the time being, is reportedly reconsidering a bid to join and although reports that Seoul had already committed to the venture appear to have been a bit premature, the country will make a decision this month and is expected to discuss specifics this weekend at a meeting with Chinese and Japanese officials.
Here’s FT:
The foreign ministers of China, Japan and South Korea will meet in Seoul this weekend for the first time in three years, in an effort to calm tensions in the region.
The trio have strong economic ties but frosty relations. International angst about this state of affairs among the regional superpowers has been further piqued by the Asian Infrastructure Investment Bank, a Chinese-led initiative sparking alarm in Washington and proving divisive elsewhere.
Meanwhile, even Europe’s own “magical fairyland” is taking the plunge. Via Bloomberg:
China welcomes Luxembourg’s application to be a founding member of the Asian Infrastructure Investment Bank, China’s finance ministry says in a statement on website.
And so, with the most European of European countries on the bandwagon, and with South Korea leaning unmistakably towards joining up, we say again:
Bottom line: this isn’t theory or conjecture anymore. Every shred of objective evidence suggests that the dollar’s dominance is coming to an end.
Gold Short Term
The 1142-1146 target area that was favored with the best chance of holding this week’s low looks established with the 1141.50 low on Tuesday and the favored gold bottom coming out of the FOMC meeting got to 1st weekly resistance now set at 1175-1182. That is the area that is the most likely price high for this week and the 2nd target zone would be 1198-1205. Odds favor it will be the 1st area listed above.
Support on Friday is the 1155-1162 area and resistance 1172-1182. The short term trend is now Bullish but we need to maintain a close above 1152 in order to remain in a short term bullish situation. The upper channel line and the 23% Fib retrace (1182) is this week’s biggest resistance point. There was a gap at 1155 today so odds are high that any pullback on Friday will hold at or near that area. Thursday got as low as 1159. In summary, the gold bounce from the FOMC meeting we’ve anticipated is underway. Now to see if it has staying power as gold needs a close above 1182 to favor higher prices next week.
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YOU SHOULD NOT TAKE ANY MATERIAL posted on this BLOG AS RECOMMENDATIONS
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
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.
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
