In this report I cover the early market action from London on Wednesday, March 7th, 2018. I also cover the technical picture for gold and show how gold could be set up for a big move higher.
When I was at college many years ago my lecturer was talking about technical analysis and he referred to a book about channel analysis. It turned out later that it was written by my friends Dad!
I see more of a flag than a pennant, but presumably more bullish than a pennant.
I thought we were seeing a couple of smaller flag formations as the price was rising, but you could be right, this would signify a much bigger flag and thus a much bigger rise up past 1400 if you're right.
What is your thoughts on buying Gold stocks/Gold ETFs vs the underlying asset for gold exposure? From what I can gather gold stocks provide more returns on a percentage basis, however you also have the risk of other factors pertaining to the company itself.
As for buying the physical asset, in Australia anyway, we need to go through all this regulatory paperwork and pay to keep it stored at the mint. A little cumbersome I think.
I personally have mining stocks as a speculative play. As for ETFs I don't touch them as that is what the bankers want people to buy as it's not real gold.
Good video mate, hopefully the metals will do well but I can’t help thinking them in London will try something, cheers mike
Thanks for following Mike. We'll have to wait and see. It could be a few more days or even another week before we see a breakout.
Well I hope so fingers crossed, thanks mike
if gold breaks 1400$ it`s show time :)
When I was at college many years ago my lecturer was talking about technical analysis and he referred to a book about channel analysis. It turned out later that it was written by my friends Dad!
I see more of a flag than a pennant, but presumably more bullish than a pennant.
I thought we were seeing a couple of smaller flag formations as the price was rising, but you could be right, this would signify a much bigger flag and thus a much bigger rise up past 1400 if you're right.
Our elder as always in the top @yasayanoluler @maneco64❤
@maneco64
What is your thoughts on buying Gold stocks/Gold ETFs vs the underlying asset for gold exposure? From what I can gather gold stocks provide more returns on a percentage basis, however you also have the risk of other factors pertaining to the company itself.
As for buying the physical asset, in Australia anyway, we need to go through all this regulatory paperwork and pay to keep it stored at the mint. A little cumbersome I think.
Would like your thoughts. Thanks for the post!
I personally have mining stocks as a speculative play. As for ETFs I don't touch them as that is what the bankers want people to buy as it's not real gold.
great post @maneco64.
thanks for sharing.
great work put in a daily speech
Thanks piccolo.
Luar biasa.... Kawan
Gold will do very well during this market down turn. Silver, not so much. Not until the market get's near it's bottom that is. Gold is looking very good.
Check out my article on gold and silver during recessions and deflations.
https://steemit.com/gold/@cryptomeeks/how-do-gold-and-silver-fair-during-asset-deflation-and-economic-recessions
Wow!!!!!!!!!
Great explanation @maneco64