Technicals: Gold Failure at $1259 Could Result in Some Pain

by Vince Lanci

Jul 25, 2017 4:15 PM

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We are happy to announce the addition of a well respected technical analyst to our growing list of Soren K. Group  of Contributors.

New Gold Contributor

Alongside George Gero, the 30 year veteran of the pits who has his finger on the flows in Gold, and Enda Glynn who we feel is the among the best Elliot Wave analysts out there, we are happy to have asked Michael Moor for his occasional insight into Gold. And he has agreed.

Michael is one of the few true technicians left who publish a newsletter that people covet. His work is in tradition of the late Peter Beutel, who we had the honor of working with for years.  His subscription list includes a broad, deep clientele from billion dollar hedge funds, to banks, to old floor types. He is one of those guys who makes his money on his objectivity and talent.

We are subscribers, and cannot post his work here. But he has given us permission to reach out to him for a taste of his perspective. We knew him as an energy analyst from our floor days, but found out recently he covers Gold.

Basically, we will be looking at his stuff as subscribers, and  when something catches our eye, we will give  him  a call and see if he cares to comment on it. We noted gold failed yesterday at $1259, an area key for our momentum buy indicator. So we looked at his stuff as well as Enda’s EW analysis.. Here is what we found

Moor Analytics

Here are a couple support resistance numbers for Gold today (partial list for this one post)

http://www.zerohedge.com/news/2017-07-25/technicals-gold-failure-1259-could-result-some-pain

I don’t believe that humans are changing the climate either. Massive climate changes have been going since the Earth was made. To think that humans can influence the big trends is mistaken. How much gov boondoggles and waste is associated with this belief? Plus you’ve got the control thing …

Having said all that I think electric cars are cool. Lets just produce them without gov subsidies.

Maybe grab some supplements pre working and recovery supplements post working.People like C4 you can get at Walmart for pre workout.

all the political claims and counterclaims, all the data diddeling aside, i think that the whole idea of global worming is a huge case of hubris.  the idea that homo sapiens can make a sizeable impact on something as large as terra is more than a little prideful.

I imagine that Awan’s sweating bullets over that very possibility. “He must have ate some moldy cheese!”

“Big Family” LOL How many have airline tickets already? Cockroaches scurrying! 🙂

He is the elder brother.  You have the whole family involved in this. Now you have to worry if he doesn’t get arkancided while in the lock up. Late note… He has posted bail.  They took his passport and have him on a monitoring device.

Rick’s Pick for Wednesday

Rising gold production pushes Newmont past profit estimates

Rising gold production pushes Newmont past profit estimates

Wasserman-Schultz IT Aide Arrested At Dulles Airport While Attempting To Flee Country

Just a day after reports emerged that the FBI had seized a number of “smashed hard drives” and other computer equipment from the residence Imran Awan, the former IT aide of Debbie Wasserman-Schultz, we learn that Awan has been captured at the Dulles airport while attempted to flee the country. According to Fox News, Awan has been charged with bank fraud.

more http://www.zerohedge.com/news/2017-07-25/wasserman-schultz-it-aide-arrested-dulles-airport-while-attempting-flee-country

I think they will melt substantially from this alone. Can’t be stopped. Millions of engines that run 24hrs a day. trains, busses, heavy equipment adds up. Your not gonna believe how dirty 3rd world diesels really are. I’d say there can be 10X the emissions from an engine in a 3rd world country. Seen it with my own eyes

To me its just another scheme to generate or produce various jobs. No different than the time they gave out all those mortgages to people who could not afford them.  Created millions of real estate related jobs. Lately they’re going big on infrastructure jobs.

Lets not forget Medial related jobs. They turned this country from an industrial economy to a huge Medical economy.

is probably occurring, ice caps are probably melting at increasing rates. Are humans to be blamed? Who knows.

Global Warming BOMBSHELL: Systematic science fraud revealed in alteration of temperature data

http://www.naturalnews.com/2017-07-25-global-warming-bombshell-systematic-science-fraud-revealed-in-alteration-of-temperature-data.html#

Lumberjack Breakfast!  Thanks for that!  Since my jaw muscle is about the only one not hurting this morning, it clearly needs a workout.  Maybe my only break today.  Taking the truck into town to help move furniture today.  Now where did I put those anti Inflammatories??

Pays to be early! 🙂

check out spring wheat chart. drought already priced in and breaking. it went up $3.20 since may. now off $1.40 from the high this month.

rno

that it was all based on…..but now that the party is over they all of a sudden develope a conscience. Every body loved the Clintons when times were good.

re

The Fed was created while the citizens slept. Your money is created out of thin air and can be used for nefarious purposes.

Comment: The Fed is operating like a global socialist gov’t. They spread dollars all over the world. Using the USA as a conduit or manifold. The Fed Note is doing business illegally as “US Dollar”. It’s not a US Dollar. Described in the constitution.