Jargon_Buster
12 Nov 2019
Clear support breach of gold at 1454 I’m still hankering for less than 110p. I haven’t been watching but I see we just dipped below that briefly today. My desired prices seldom get realised, I’m always a little off so I’m flexible. I’m still not enthused much to step back in. Maybe we should both retire @tornadotony JB
tornadotony
12 Nov 2019
Clear support breach of gold at 1454 Just checked in to see a counter trend rally on gold and silver. I expected this to happen from 1441 to 1454 area but I am surprised to see gold futures hitting 1460. It was incredibly weak earlier in the day. Rumour has it that hedge funds cashed out 3.3M ounces of gold on to the market. The buyer probably was a central bank as the retail sector is not touching things with a barge pole. Still observing but the pull back today was at some point at least getting nearer to the ball park I want to play in. If it shoots right up again the retirement is on. Half of me is wanting another deeper retreat to be in the game again. It is in the hands of fate.
tornadotony
12 Nov 2019
Clear support breach of gold at 1454 Centamin RSI on short term is overbought on longer time frequencies is neutral and is now set up for a significant pull back.
tornadotony
12 Nov 2019
Clear support breach of gold at 1454 Retaking of 1154 is to close chart gap. Downtrend in gold is most likely to continue later today.
tornadotony
12 Nov 2019
Clear support breach of gold at 1454 Battle over 1441 support line begins. This is a key area and it may take several days for us to know if it holds or breaks down. 110p for Centamin is likely to give way on a 1441 test as it may go back and forth over the 110p handle. If gold fails to hold 1441 Centamin and the other miners go down with it. Its like the valuation of gold in the ground they have being devalued.
tornadotony
11 Nov 2019
Gold resistance and support JB Serious chart damage is building on gold. If gold loses 1441 it can quickly fall into the 1420’s and the profit centamin was making drops around 14%. This could see Centamin struggling to then hold the 105p handle. The Gold COT report on Friday will be an interesting read. All the miners are slipping back as the index as a whole gets sold off. Regards TT
Jargon_Buster
11 Nov 2019
Gold resistance and support Centamin at 111p. Gold currently at 1456, which is very close to @tornadotony 1454 support line. I’m starting to get interested. Not sure when the downward pressure will reverse though. Still figuring around 107p or even 105p might tempt me. JB
tornadotony
11 Nov 2019
Gold resistance and support Gold hits the next support line around 1454. The play book remains downwards.
tornadotony
08 Nov 2019
Gold resistance and support Unless something dramatic on the China USA trade deal emerges at the weekend FTSE 100 and 250 miners in particular will get toasted at the open. The afternoon rally back up looks like a full blown bull trap. Fresnillo likely to open 10p down. Centamin could cover the gap with a 1 share buy at the open but could soon be down to 111p on the sell. The gold chart looks great if a bear and awful for the bull longs.
tornadotony
08 Nov 2019
This probably sums up how I feel about Centamin today We have a counter trend rally on-going which closed all the chart gaps to the USA market. I still believe the direction is downwards during November.
Jargon_Buster
08 Nov 2019
This probably sums up how I feel about Centamin today I thought it was some light relief as PoG falls below 1460 and Centamin drops to 111p. You must be feeling pretty good as your analysis was spot on. JB
tornadotony
08 Nov 2019
Gold resistance and support Gold support lines are now at 1454,1441, 1438 and 1428.
tornadotony
08 Nov 2019
This probably sums up how I feel about Centamin today
tornadotony
07 Nov 2019
Gold resistance and support The drop needed to take place on gold and it has formed a double bottom having delivered a lower high on the gold chart. Probability does suggest a cycle low plays on until the end of the month or so. My opinion is a drop between 1420-1433 for gold but that is a best guess. A lot of funds buy gold miner stocks via ETFs that sell off with a falling gold price. The baby does get thrown out with the bath water on these retreats and so Centamin does not get any special favours. Its not easy to judge bottoms on gold miner stocks. Indeed it is pure guesswork how they play out. Most buyers will close their eyes and hope for the best when the RSI and MACD are truly awful and the only way is then back up again. I hope the weekly COT reports will be a useful guide.
tornadotony
07 Nov 2019
Gold resistance and support Yes it has bounced off support.
