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got the first green bar today. but a new up trend is not confirmed. the 25 MA and 50 MA dead ahead. it's like, the daily stoch has to go back down to retrieve the weekly stoch for the confirmed uptrend.
Hi @Tiberius, I haven't posted for a while, but attached are my continuous futures charts for Gold (GC) and Silver (SI). Gold has strong volume resistance up to 1780 level and Silver has strong volume resistance up to 36. So closes above those is what I'm watching for to become more interested in going long again on an intermediate term. But both are showing good relative performance versus the S&P 500 (as you can see by them crossing above their zero lines on the charts) and had a good volume pickup last week, so might also be worth looking at shorter term imo, if they start closing above their 50 day MAs again. Until that happens though I'll be standing aside. Below are the charts.
"Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill" – Reminiscences of a Stock Operator.
I went long Gold yesterday at 1723.78 with a stop loss at 1674.98 which gives me 2x ATR(200) risk. Initial soft target at 1800. I'm in a little bit earlier than I mentioned before, as it's still below it's 50 day MA. But I like the look of the inverse head and shoulders on the daily, and volume on the recent pullback was light. Plus it's trading within a well defined channel that you can see on the weekly. So will see how it goes.
"Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill" – Reminiscences of a Stock Operator.