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/GC Gold Futures - $1000 or $1400 next? Vote!

Cy's official Stockaholics thread archives group.

?

What comes first for the /GC from here? $1000 or $1400 next?

Poll closed Jan 3, 2017.
  1. $1000

    70.0%
  2. $1400

    30.0%
  1. Cy McCaffrey

    Cy McCaffrey Content Manager
    Staff Member

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    How bullish or bearish are you on the yellow metal in 2017?

    $1000

    or

    $1400

    [​IMG]

    VOTE & POST YOUR VOTE!

    [​IMG]
     
  2. Venom08

    Venom08 Member

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    GLD has something of a megaphone pattern and it hit the upper maxima on July 6th and has been declining ever since. Since that's what I'm short, these are my covers: $105 is where I'll cover roughly 30-40%. Then a few contracts at $101 and finally I see it in a free-fall from $99 to $91. I think the most extreme scenario has gold seeing $700 prints.
    GLD Daily:
    [​IMG]

    There's also a very crude head and shoulders pattern that plays out to $98.

    I don't feel like posting a chart of NUGT (inv. 3x gold miners), but that thing is SCREAMING bloodbath over the coming weeks. Next week will be wild if it breaks below $7.3. It's $7.68 now. I can't wait to pick it up at $1.5 in January, lol.
     
    Steven_Burt likes this.
  3. Steven_Burt

    Steven_Burt Active Member

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    UUP seems to be building a flag for another move higher soon, that will take the shinny metal down again if it does.

    voted $1k
     
  4. heyimsnuffles

    heyimsnuffles Active Member

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    I'm Calling 1450 Gold in 2017. This collapse was a lot further than I expected. However it should stop right here at this support.

    If this dollar is a failed breakout into the .618 retracement from the falls from the highs then Gold will rip back up with a vengence IMO

    [​IMG]
     
  5. Venom08

    Venom08 Member

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    Gold has almost been in a six year bear market, I think it's close to the bottom but that won't happen until the mega flush (currently underway) is over. That's why I'm calling for $930ish before the bull market. I'm short gld and have puts. I'm kicking myself for not buying Nem puts this morning, the chart was screaming "Crash incoming!!!"
     
  6. hitman

    hitman Active Member

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    $970 - $980 then revisit to see if its bottom out.
     
  7. Cy McCaffrey

    Cy McCaffrey Content Manager
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    good analysis in here fellas ... much appreciated! and i have to agree with that sentiment for the yellow metal as well ... especially since i think the greenback has much higher to go before its peaked imo

    $1000 for me
     
  8. Ken34

    Ken34 Active Member

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    $1000 for me, once gold flushes out and hits that, then it will rip back higher.
     
  9. tones

    tones New Member

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    $1400 USD
     
  10. Value543

    Value543 Active Member

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  11. stock1234

    stock1234 Active Member

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  12. heyimsnuffles

    heyimsnuffles Active Member

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    Even Playing Field as of now.

    Vote.

    BUMP
     

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