YuChen

What a nice word to use to describe the present.

 

Pronunciation: \ˈkän-ˌflü-ən(t)s, kən-ˈ\

Function: noun

Date: 15th century

 

1: a coming or flowing together, meeting, or gathering at one point <a happy confluence of weather and scenery>

2 a: the flowing together of two or more streams b: the place of meeting of two streams c: the combined stream formed by conjunction

Thanks for the definition Pixel8r! That's the first word that came to my mind when I was writing that.

I am no expert, but I think there are "confluence" of reasons to believe a bounce is about to take place:

COMEX Gold:

CME Japanese Yen:

USD Index:

All the weekly and monthly charts are hitting a line where a bounce tends to occur.

EMA's used: 81, 20.

COMEX closed at 814.5, day high 842.9. Not a very good close but I think a bottom should be in either this week (1 more trading day to go) or next. Fingers crossed!

Welcome, YuChen. ANy relation to the family of painters? If so, say hello to ChenYu

 

I want to see Gold back above $850 soon.

There's a gap to fill near there. Let's hope once it fills the gap, it keeps powering higher.

 

It looks like the Chinese were in on the Dollar manipulation. So my "olympic opening turn" thesis was wrong/

But I think people everywhere can see value in Gold at these levels, and there's a good chance the bottom is

being put in.

 

OIH bears watching, and it si moving up strongly today (so far), and oil/USO is rising too

Is very kind of you DrBubb! I am trilled to have found your fantastic forum here!!!

No, nothing to do with the painters.

Hi all! First time for me to post here. I have been a reader of bhc investment edited by a guy who calls himself Boon. I think Boon is also expecting a bottom in Gold to form very soon, though he bought it slightly above 850:

Note #3: Crude Oil broke out of its 100 psychological level before making its roaring surge to 14X (see figure above). That roaring surge was what happened after a pullback re-action. The pullback in Gold right now is a similar re-action following the breakout of 850. Once this re-action is completed, Gold will enter its next roaring surge. Panic selling Gold now is like selling Crude Oil at 95 before its roaring surge to 14X.

Note #4: Different analysts will always have different views on things, because (1) they don't know what they are talking about; and (2) they focus on the wrong time frame. The most important time frame for Gold is the multi-year chart (see figure above).