Comments on: Gold Silver GDX Objective Short Entry or Add-on

By: trade0039

trade0039 — Wed, 01 Feb 2023 16:14:20 +0000

Randy any thoughts on SOXX (Semis)? Thanks!

By: Jeff Vandenburgh

Jeff Vandenburgh — Tue, 31 Jan 2023 20:07:32 +0000

In reply to KevinK. I can't answer for Randy, but I can say from experience that Gold (and currencies) usually have big intraday moves on FOMC days, whipsawing short-term traders in both directions. Wheat, on the other hand, is not much affected by FOMC noise.

By: jmccallum

jmccallum — Tue, 31 Jan 2023 19:55:15 +0000

I do not know of any other investment instrument that creates bull and bear traps as much as gold.

By: KevinK

KevinK — Tue, 31 Jan 2023 18:32:09 +0000

Randy, How are wheat and gold going to be affected by what the FED does tomorrow ?

By: Jeff Vandenburgh

Jeff Vandenburgh — Tue, 31 Jan 2023 18:22:11 +0000

In reply to Jeff Vandenburgh. In wheat futures (/ZW) it looks like the 50dayMA could be stiff resistance for a while, but the break above the trendline, and the fight with the 50day looks bullish in the longer term to me.

By: Jeff Vandenburgh

Jeff Vandenburgh — Tue, 31 Jan 2023 17:55:42 +0000

Tremendous strength in commodities today. Wheat futures are breaking above a well-defined trendline and the 50dayMA.

By: thebeagle55

thebeagle55 — Tue, 31 Jan 2023 16:08:34 +0000

In reply to Jeff Vandenburgh. interesting thanks for that info

By: Russ F.

Russ F. — Tue, 31 Jan 2023 16:03:53 +0000

In reply to becky. I think maybe so. Too early for me.

By: Jeff Vandenburgh

Jeff Vandenburgh — Tue, 31 Jan 2023 16:01:29 +0000

On a daily chart, gold touched its 20dayMA in the overnight, where it got bought like it was the greatest buying opportunity of the year.
At the same time, the DXY touched its 20dayMA and got sold just as furiously.

By: becky

becky — Tue, 31 Jan 2023 15:48:13 +0000

Concerned that we overshot the up TL by quite a bit?