Missed this. Perhaps I didn't resubscribe after the FEMA exercises in July. Going offline for two weeks of vacation -- hope you've read the web bot report. Greetings from France. KittenKattan says you nailed it with this one, congrats!
but didnt gold reach over 1000 / oz only to drop back down below 900 / oz many months ago ? we know that the gold is being manipulated low so whats to say that it doesnt continue ?
Gold went from 1000/ oz. to mid 700s. There is more pressure on the USD yet gold has yet to get back over 1000/ oz. People owning gold should be scratching their heads.
papergold is now oversigned by 7 to 1 I have been hearing just lately 4-8 months
can you imagine what will happen when paper sellers want to get hold of the real stuff ..... NYMEX is totally manipulated and I have more then a bad feeling that it will get worse by the day of the 1k breakthrough
You might do better with silver. It can be bought in smaller, cheaper increments, is underpriced relative to gold (which means it should move up more proportionately as both advance), and would make a more flexible crisis currency in the event of a collapse. That way, you don't have to wait to protect yourself.
Also, Google: 100 Items to Disappear First
...For things to buy besides PMs and food. =^[.]^=
I've got about 12 1oz American dollars, and a few weeks ago took one to town-Warrington-to get it valused and the see what I'd get for it, it was worth £5, so I'll stick to gold sovereigns, or 1oz gold coins.
Late October early November will be when the shitty worthless US dollar will collapse and then will be the time for gold.
In the short term I see gold coming down, ONLY IF the sharemarkets shit. If they plummet then past history says gold will fall. This will be short term though. If, and pray to God, this occurs, then its time to position yourself in LGL or NCM calls. That's my strategy, anyway.
Fantastic analysis! I have a certification in technical analysis and I will vouch that all of the information provided herein is quite accurate and inline with the discipline.
Given that, myspacesecrets - please confirm this - once we punch through 1000, gold will have a very very solid foundation to go much much higher, having over 4 tops to provide a foundation for technical resistance.
myspacesecrets, please answer this question. Ok, I am on the same page as you in that the dollar is a worthless currency in the long run, gold is going to do very well etc. etc.
However, we are deleveraging a gigantic inflationary credit bubble that was inflated over more than a decade. Deflating this bubble, which is inevitable, is going to contract the money supply through the contraction of credit...which is very dollar bullish. So don't you think that deflation (dollar bullish) comes first?
We should have bad pretty bad deflation but helicopter Ben stopped it with the printing press. This is key. The fact that RIGHT NOW we do not have deflation is a sign of inflation. Once the deflation period ends (6 months to 3 years) then major inflation will show. It's just hiding right now.
I would be very interested if you could share your opinion on the Australian property market and where you think it is headed please, or have you made a vid on it already?
But helicopter ben has only pumped in 3 trillion dollars into the economy. I know it's a staggering amount, but the credit bubble that is deflating is 13 trillion. So it's merely scratching the surface. I personally think that deflation is going to inflict massive damage, sort of like from July 08 to March 09 but only worse/longer. And once this deflation is complete within 2-3 years, we will have hyperinflation from all the excess liquidity that the Fed will refuse to remove.
If a home raises in value 100k and then drops 100k would you count that as deflation? Sure there is 100k less dollars but it was never in existence. The house wasn't sold and no money was actually created. Its like a stock going up. If you stock doubles in price and you don't sell and then it goes back to the price you bought it at you didn't really make or loose that money and no money was created.
It may have existed as paper money, but the economic 'health' of the country was predicated on this paper/fake wealth. There was inflation from 2001 to 2008, in which this bubble was inflated. Even though it was a fake bubble, there will be legitimate deflation imho.
November 6 until Alf's number begins to show itself...or so a lot of experts are predicting. Counting the days. Love the metals and love the charts. Great vid. One word of caution. I've been stopped out of dozens and dozens of failed patterns in the last few months (mkt manipulation) and am more cautious to the "fundamentals" side nowadays if that helps anyone out there. Set your stops top and bottom - extreme caution. Go silver!!
I would expect that the tightening of the Bollinger bands would also indicate a breakout forming. Most likely to the upside I would agree. LONG here with a stop-order on GLD.
people can say how manipulated the markets are, and that technical analysis doesnt work, but I been using it for years..... and it works like a champ...
If you are investing without looking at a chart....ummm good luck to you!!
They have to remember that there are mucho technical analysts out there, so therese patterns become a self fulfilling phrophesy....which is a good thing.
you forgot to mention that the markets are manipulated and even though gold should go higher, the US gov't and goldman sachs can take gold down anytime they want.
Seen this technical analysis 100 times on "endlessmountain" but nice to see you explain it again in a slightly different way.
One thing to mention is that silver will be brought along by gold (if it hasn't already broken out itself) once gold goes above 1000. Many say it will go to 1300 within a few months of that point and silver should see massive gains as well.
Gold/silver are real assets as opposed to paper money/certificates which have imaginary money and are WORTHLESS. Bankers know this. Governments know this. Never forget that gold was confiscated by the goverment in the great depression by executive order 6102 in April 1933. Take physical posession of your metal assets and hide them in a safe place.
It doesn't matter, gold still shouldn't be looked at as a no risk commodity. Suppose gold shoots through the roof, everyone and their mother will jump in and purchase it. I see no reason why a gold bubble cannot burst just as with oil (which is a real asset as well). But yes I do agree that paper money is worthless.
I've never been a fan of the gold market as I think it is manipulated by the banks. however.. if there is a change in the next 20 years to a world currency.... stocks and paper will be worthless.
MySpace you would be the fifth tech analyst on YouTube that sees this bullish pattern...I too believe metals are getting ready for a nice bullish run just keep in mind that the IMF owns several hundered tons of gold to manipulate the price down with. If there is a bullish run then a "sale" of their gold wont be too far behind driving its price right back down.
Loved the technical explanations. I'll have to get more into reading charts as well :p
I'm also bullish on gold... sold the FTSE at ~6200, bought into gold in autumn 2008 just in time before the crash. The average I paid was £490/oz, today it's £578/oz!
But in Feb'09 it was £660 :(
Would anything have predicted the dip in gold starting late Feb'09? I shorted a couple of times during the dip to preserve my gains but it was really scary!
it seems Charts are meeningless i regards to precious metals, Of course , I know nothing, just seems it's a casino, and charts dont work on slot machines
If governments and banks are the sellers and are trying to keep gold under $1000 so people don't move their wealth from banks to gold, wouldn't the prospect of gold rising above $1000 depend on how much reserves of gold both government and banks have.
Also if todays economic turmoil is the beginning of the end of capitalism, is gold likely to be as precious as it was under capitalism.
Great analysis! Thank you. btw, I purchased a 30 gram Italian gold bracelet in 2001 for about $300. Worth about $2400 now. Wish I'd just bought a bar of gold back then. I think for now gold might drop in the short term and then rise. We'll see.
IH/S is too obvious. Gold is sucking in fear buyers while the pros are selling. It's one of the most overbought trades out there.
Notice it is fading in it's attempt to get back to $1000 even with strong buying.
Add on a MACD and RSI on the weekly chart and look at the massive negative divergence. Bearish.
Yes, be careful. I'd say odds are high that is breaks down with the other metals as the $USD strengthens. The $USD has hit a bottom based on being 5 waves down from the top.
How about silver? Many folks are interested in silver, as it seems underpriced relative to gold. I'd love to see your analysis on "poor man's gold." =^[.]^=
Looks more like a double top forming to me, but we will have to see which direction breaks the ascending triangle. The USD has a very pronounced MACD divergence, and if we have another tightening of liquidity in the system, that could catalyze a short term rally in the dollar, probably pushing gold down into the $880 range.
Great confirmation for what I was thinking is a bull run on gold. You did a specular job at pointing all the key points out. Thanks.
psion128 2 years ago
cool.
myspacesecrets 2 years ago
This was the clearest buy signal I ever seen. Got lucky and bought some calls right before we got the spike.
784950 2 years ago
i wanna buy now but its gone up is this a bad time it may go down now gold i mean i wann buy 50 grams for 1600us
johncoolj 2 years ago
just trying to help out where I can.
Chinese soverign fund increasing gold positions....interesting.
myspacesecrets 2 years ago
Missed this. Perhaps I didn't resubscribe after the FEMA exercises in July. Going offline for two weeks of vacation -- hope you've read the web bot report. Greetings from France. KittenKattan says you nailed it with this one, congrats!
slobomotion 2 years ago
thanks slobo..good to hear from you...hope you are going well!!!
myspace
myspacesecrets 2 years ago
will gold come down when is best time to buy it like now or what
johncoolj 2 years ago
Now absolutely, but please go for silver as well. I've been spot on since 1983.
slobomotion 2 years ago
we are already in deflation!
But remember what happen in Japan after they tried to save zombie banks that were already going belly up!
myspacesecrets 2 years ago
but didnt gold reach over 1000 / oz only to drop back down below 900 / oz many months ago ? we know that the gold is being manipulated low so whats to say that it doesnt continue ?
PREPAREORSUFFER 2 years ago
Gold went from 1000/ oz. to mid 700s. There is more pressure on the USD yet gold has yet to get back over 1000/ oz. People owning gold should be scratching their heads.
high5flyer 2 years ago
interesting, thank you
LukaszMrowka 2 years ago
the spychological 1 K per once ^^
I've been waiting for it now for so long
papergold is now oversigned by 7 to 1 I have been hearing just lately 4-8 months
can you imagine what will happen when paper sellers want to get hold of the real stuff ..... NYMEX is totally manipulated and I have more then a bad feeling that it will get worse by the day of the 1k breakthrough
LastReplaySC 2 years ago
I'd like to buy more soverigns or 1oz coins, but I can't afford to just yet, so I'm buying more food instead. :-(
Puzzoozoo 2 years ago
You might do better with silver. It can be bought in smaller, cheaper increments, is underpriced relative to gold (which means it should move up more proportionately as both advance), and would make a more flexible crisis currency in the event of a collapse. That way, you don't have to wait to protect yourself.
Also, Google: 100 Items to Disappear First
...For things to buy besides PMs and food. =^[.]^=
Raycheetah 2 years ago
I've got about 12 1oz American dollars, and a few weeks ago took one to town-Warrington-to get it valused and the see what I'd get for it, it was worth £5, so I'll stick to gold sovereigns, or 1oz gold coins.
Puzzoozoo 2 years ago
i like gold more than silver, but i love both :D
DeeHong 2 years ago
Me to, but gold will hold value more then silver, but then the Chinese have always praised silver more then gold. Ahh well.
Puzzoozoo 2 years ago
Praised the fact that it's more common and easily to liquidate.
I personally like gold much more because it's easier to store an ounce of gold than 70 oz of silver
DeeHong 2 years ago
Thanks for info. 5*****
PlatinumGordon 2 years ago
thanks for watching platinum.
myspacesecrets 2 years ago
I believe:
Late October early November will be when the shitty worthless US dollar will collapse and then will be the time for gold.
In the short term I see gold coming down, ONLY IF the sharemarkets shit. If they plummet then past history says gold will fall. This will be short term though. If, and pray to God, this occurs, then its time to position yourself in LGL or NCM calls. That's my strategy, anyway.
EliteURBX 2 years ago
Nice bit of infomation there:D
jnadreth 2 years ago
Fantastic analysis! I have a certification in technical analysis and I will vouch that all of the information provided herein is quite accurate and inline with the discipline.
Given that, myspacesecrets - please confirm this - once we punch through 1000, gold will have a very very solid foundation to go much much higher, having over 4 tops to provide a foundation for technical resistance.
yogiudo 2 years ago 2
myspacesecrets, please answer this question. Ok, I am on the same page as you in that the dollar is a worthless currency in the long run, gold is going to do very well etc. etc.
However, we are deleveraging a gigantic inflationary credit bubble that was inflated over more than a decade. Deflating this bubble, which is inevitable, is going to contract the money supply through the contraction of credit...which is very dollar bullish. So don't you think that deflation (dollar bullish) comes first?
malumalumalu 2 years ago
We should have bad pretty bad deflation but helicopter Ben stopped it with the printing press. This is key. The fact that RIGHT NOW we do not have deflation is a sign of inflation. Once the deflation period ends (6 months to 3 years) then major inflation will show. It's just hiding right now.
zappos49 2 years ago
very good comment, deflation now...will eventually lead to inflation then, hyper.....look out when that happens.
myspacesecrets 2 years ago
I would be very interested if you could share your opinion on the Australian property market and where you think it is headed please, or have you made a vid on it already?
ShaneChiswick 2 years ago
Take it from someone who knows nothing.
The Aust makets are being propped up by the goverment grants. Bringing on new buyers.
We are also at the bottom of the interest rate cycle. Look at the 5yr interest rates.
They are rising.
As time elapses and unemployment grows, Interest rates rise
USA economy isnt fixed and wont consume so Aust will lose more jobs.
China has stock piled iron ore etc .
More job losses once this finishes.
Higher interest.
More sales, lower prices. 6yr cycle
keithholden 2 years ago
thanks mate
ShaneChiswick 2 years ago
But helicopter ben has only pumped in 3 trillion dollars into the economy. I know it's a staggering amount, but the credit bubble that is deflating is 13 trillion. So it's merely scratching the surface. I personally think that deflation is going to inflict massive damage, sort of like from July 08 to March 09 but only worse/longer. And once this deflation is complete within 2-3 years, we will have hyperinflation from all the excess liquidity that the Fed will refuse to remove.
malumalumalu 2 years ago
If a home raises in value 100k and then drops 100k would you count that as deflation? Sure there is 100k less dollars but it was never in existence. The house wasn't sold and no money was actually created. Its like a stock going up. If you stock doubles in price and you don't sell and then it goes back to the price you bought it at you didn't really make or loose that money and no money was created.
zappos49 2 years ago
if stocks are going to re-test lows why would commodities increase in price?
huskie767 2 years ago
It may have existed as paper money, but the economic 'health' of the country was predicated on this paper/fake wealth. There was inflation from 2001 to 2008, in which this bubble was inflated. Even though it was a fake bubble, there will be legitimate deflation imho.
malumalumalu 2 years ago
.....oh by the way.....this is very heartening video. Did you notice that it's consolidating at the far right side? Big smiley face here.
Go Silver!
dgmoocher 2 years ago
November 6 until Alf's number begins to show itself...or so a lot of experts are predicting. Counting the days. Love the metals and love the charts. Great vid. One word of caution. I've been stopped out of dozens and dozens of failed patterns in the last few months (mkt manipulation) and am more cautious to the "fundamentals" side nowadays if that helps anyone out there. Set your stops top and bottom - extreme caution. Go silver!!
dgmoocher 2 years ago
MACD converging above the zero line here too...
Deutsche22 2 years ago
I would expect that the tightening of the Bollinger bands would also indicate a breakout forming. Most likely to the upside I would agree. LONG here with a stop-order on GLD.
Deutsche22 2 years ago
I think silver will play out very very WELL..... its why I am diversifying in these and some other metals.
never put your eggs in ONE basket...a good rule to remember.
myspacesecrets 2 years ago
people can say how manipulated the markets are, and that technical analysis doesnt work, but I been using it for years..... and it works like a champ...
If you are investing without looking at a chart....ummm good luck to you!!
myspacesecrets 2 years ago
They have to remember that there are mucho technical analysts out there, so therese patterns become a self fulfilling phrophesy....which is a good thing.
CoinsFreedom 2 years ago
Awesome !
artdeco101010 2 years ago
you forgot to mention that the markets are manipulated and even though gold should go higher, the US gov't and goldman sachs can take gold down anytime they want.
disciple90633 2 years ago
Seen this technical analysis 100 times on "endlessmountain" but nice to see you explain it again in a slightly different way.
One thing to mention is that silver will be brought along by gold (if it hasn't already broken out itself) once gold goes above 1000. Many say it will go to 1300 within a few months of that point and silver should see massive gains as well.
drutter 2 years ago
Wow - Excellent vlog! *****
deelean 2 years ago
If gold breaks out do you think silver can follow?
NewAmericanOrder 2 years ago 2
Silver will out perform gold. Gold is the catalyst.
CoinsFreedom 2 years ago
Gold/silver are real assets as opposed to paper money/certificates which have imaginary money and are WORTHLESS. Bankers know this. Governments know this. Never forget that gold was confiscated by the goverment in the great depression by executive order 6102 in April 1933. Take physical posession of your metal assets and hide them in a safe place.
sweetelesue 2 years ago
It doesn't matter, gold still shouldn't be looked at as a no risk commodity. Suppose gold shoots through the roof, everyone and their mother will jump in and purchase it. I see no reason why a gold bubble cannot burst just as with oil (which is a real asset as well). But yes I do agree that paper money is worthless.
Thycid 2 years ago
Thank you
capcom101you 2 years ago
great video MSS. Thanks for all you do.
NoesisNRG 2 years ago
Everytime I watch your videos I end up buying more silver/gold. This is starting to get expensive.
gtiapr3 2 years ago 4
again its longer term....again people were saying gold was expensive at 500 / ounce LOL
myspacesecrets 2 years ago
keep it up
MacroTraficante 2 years ago
That was informative
whiskerchild 2 years ago
Yay for gold
lightleague 2 years ago
I've never been a fan of the gold market as I think it is manipulated by the banks. however.. if there is a change in the next 20 years to a world currency.... stocks and paper will be worthless.
twylightsky2007 2 years ago
MySpace you would be the fifth tech analyst on YouTube that sees this bullish pattern...I too believe metals are getting ready for a nice bullish run just keep in mind that the IMF owns several hundered tons of gold to manipulate the price down with. If there is a bullish run then a "sale" of their gold wont be too far behind driving its price right back down.
CASTILLOM1 2 years ago
Loved the technical explanations. I'll have to get more into reading charts as well :p
I'm also bullish on gold... sold the FTSE at ~6200, bought into gold in autumn 2008 just in time before the crash. The average I paid was £490/oz, today it's £578/oz!
But in Feb'09 it was £660 :(
Would anything have predicted the dip in gold starting late Feb'09? I shorted a couple of times during the dip to preserve my gains but it was really scary!
I'm back to a long position now anyway ;)
TilveranNavarre 2 years ago
it seems Charts are meeningless i regards to precious metals, Of course , I know nothing, just seems it's a casino, and charts dont work on slot machines
chromedreamz 2 years ago
The human element, however, is unpredictable in times of relative stability and quite predictable in times of utter instability.
Frequencitee 2 years ago
man what are you talking about ... gold in downtrend for at least one year
NiceAznBoy 2 years ago
I am up and I bought gold last Year. A ten year chart of gold is up almost year to year and holds even otherwise. Buy gold. Buy silver.
CoinsFreedom 2 years ago
any charts for silver ?, thanks for the info.
milidude 2 years ago
Thanks for that.
All good stuff
jembocc1347 2 years ago
Use the Logarithmic view for the H&S. The top and bottom is 1,000 and 700 and that is a 42% difference which the price target should be around 1,400.
Have you seen my channel on techs Myspace? I have been talking about this pattern for along time now
endlessmountain 2 years ago
What about "Gold Stocks"???
hehatemee 2 years ago
If governments and banks are the sellers and are trying to keep gold under $1000 so people don't move their wealth from banks to gold, wouldn't the prospect of gold rising above $1000 depend on how much reserves of gold both government and banks have.
Also if todays economic turmoil is the beginning of the end of capitalism, is gold likely to be as precious as it was under capitalism.
0urGaia 2 years ago
The system we r under was never capitalism since 1970, If we were in a capitalism system gold would still be $35 an oz
fox20012 2 years ago
nope.
maybecominsoon 2 years ago
Great analysis! Thank you. btw, I purchased a 30 gram Italian gold bracelet in 2001 for about $300. Worth about $2400 now. Wish I'd just bought a bar of gold back then. I think for now gold might drop in the short term and then rise. We'll see.
fal2grace 2 years ago
alot of those people were bearish all the way from 600 to 1000.... and telling people to short there at 600 as well!
myspacesecrets 2 years ago
xgld on the monthy is painting a big double top, which is bearish, so be careful gold bugs. Dont get greedy and the market will be kind.
SGDeGalvez 2 years ago
IH/S is too obvious. Gold is sucking in fear buyers while the pros are selling. It's one of the most overbought trades out there.
Notice it is fading in it's attempt to get back to $1000 even with strong buying.
Add on a MACD and RSI on the weekly chart and look at the massive negative divergence. Bearish.
Yes, be careful. I'd say odds are high that is breaks down with the other metals as the $USD strengthens. The $USD has hit a bottom based on being 5 waves down from the top.
Schweizer135 2 years ago
lol, USD is not going to strengthen for any lengthy amount of time. how can it with all the Quantitative easing going on.
ds4081 2 years ago
How about silver? Many folks are interested in silver, as it seems underpriced relative to gold. I'd love to see your analysis on "poor man's gold." =^[.]^=
Raycheetah 2 years ago
yes, I'd also like to see an analysis of silver pls.
fal2grace 2 years ago 2
Awesome MSS, gold is never a boring subject. Keep em coming. Stay safe
andrewebisu 2 years ago 2
Top stuff,
can't thank you enough
MakeCakeNotWar 2 years ago 2
do u factor in the new world order agender n ur analysis?
mrchekky 2 years ago
MSS is talking about longer term....I agree with this....nice pattern!!
Thanks for the update...this video are friggen awesome.
bigelkhorn 2 years ago 2
yes longer term....fore sure....i dont care what it does short term...
myspacesecrets 2 years ago
Looks more like a double top forming to me, but we will have to see which direction breaks the ascending triangle. The USD has a very pronounced MACD divergence, and if we have another tightening of liquidity in the system, that could catalyze a short term rally in the dollar, probably pushing gold down into the $880 range.
patriotsundergod 2 years ago
it will be bull in gold!but!!!i am worried only how dollar response will be if gold broke the 1000$ for ounce ,,,,!
vilson6 2 years ago
thanks for you kind words....my pleasure.
Hope you can make some money from this... *hugs back* Myspace :)
myspacesecrets 2 years ago
You are so cool for keeping us updating on everything...U ROCK... (HUGS TO YOU))
deeliyah20 2 years ago 2