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Momentum Trading with RaginCajun

RaginCajun
Joined Jan 27, 2008
7,406 Blog Posts

Gold Up For The Fifth Day In A Row

RaginCajun Tue Jun 14, 2016 10:17am EST 8 Comments

Gold is up once again, making this the fifth trading day in a row for the shinny metal. Price is nearing old relative highs @ 1306, back in early May. Do we see a breakout in prices here, similar to that of Bitcoin?

Here’s a daily chart:

Screen Shot 2016-06-14 at 9.11.29 AM__

How do you feel on the metal here? Buyer or Seller? Vote below:

Buyer or Seller of Gold?

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8 comments

  1. matt_bear
    matt_bear
    June 14, 2016 at 10:57 am

    face down gold up.

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  2. unclebuccs
    unclebuccs
    June 14, 2016 at 11:00 am

    RC – I’m bearish on the gold, but how to you feel here?

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  3. imchrisbrown
    imchrisbrown
    June 14, 2016 at 7:26 pm

    bullish til 1300ish (realistally another 10 points or so) and then would hope to see some consolidation before a breakout

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  4. levrage
    levrage
    June 14, 2016 at 9:04 pm

    Vix up about 40% in two days and gold is…flat? So much for the safe haven.

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    • probucks
      probucks
      June 14, 2016 at 10:03 pm

      Gold is a “safe haven” by a relative basis to other currencies. It’s not crash protection therefore the relationship of vix and gold is hardly relevant.

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  5. probucks
    probucks
    June 14, 2016 at 10:01 pm

    we’re inevitably going to 1500

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