Chris Vermeulen - The Technical Traders – Wed 2 Dec, 2020

Near term outlook for gold balanced against the all-time highs in US markets

Chris Vermeulen, Founder of The Technical Traders joins me to answer the question all gold investors have… Has gold bottomed? He provides his near term outlook and levels to watch for gold and US markets.

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Comments:
  1. On December 2, 2020 at 1:50 pm,
    Paul says:

    Chris the problem is you have been totally wrong most of time this year using technical trading.
    Your long term newsletter kept everyone in and watch stock tumble down in March on to bounce up from 2200 to 2500 and you had them sell 50 pct because you said retest and mkt crash, then watch stocks come all the way back up to 3k level, those people were puking.
    In your swing trade newsletter you were wrong on 70 pct of your trades pitiful.
    Technical trading is great looking on charts but you can’t read them.
    Looser.

  2. On December 2, 2020 at 7:41 pm,
    Glenfidish says:

    Matt,

    So far so good amigo. Expecting gold to hit my targets as mentioned the other day. Once it breaks through this minor resistance at $1838-$1840 it will run fast towards $1875-$1890 give or take. I like $1881-$1888.. Resistance will stop it there temporarily at least I believe. Shooting it back down tomorrow and by Friday to test that $ 1778-$1784 region. If this scenario plays out, then next week will propel as higher from those lows.

    • On December 2, 2020 at 7:55 pm,
      Matthew says:

      1780 again? No way Jose! (Hose A?) ๐Ÿ˜‚

      • On December 2, 2020 at 8:38 pm,
        Glenfidish says:

        Lol, Iโ€™ve had a very good run donโ€™t blow it pass me ๐Ÿ˜‰

        If it does your going to have to take the remaining wagyu from your stash because it will be another down day ๐Ÿ˜†.

        • On December 2, 2020 at 9:30 pm,
          Matthew says:

          I’ve restocked my wagyu so I can proceed boldly. ๐Ÿ‘Š๐Ÿ˜Ž ๐Ÿฎ๐Ÿฅฉ

    • On December 2, 2020 at 8:01 pm,
      Matthew says:

      I think it’s more likely to hit 1915 and then pull back to 1885.

      • On December 2, 2020 at 8:59 pm,
        Dick Tracy says:

        I’m more interested in knowing when Silver will hit $30. What do the chart wizards say? DT

        • On December 2, 2020 at 9:34 pm,
          Matthew says:

          28 should be easy this month but 30 is also very possible. This move is going to catch a lot of people off guard so we should have some short-covering jet fuel.

          • On December 3, 2020 at 2:52 am,
            Dick Tracy says:

            Thanks Matt, much appreciated! DT

          • On December 3, 2020 at 7:51 am,
            Glenfidish says:

            Ditto!

            Dt seeing the same thing.. Silver is going to fly lots of catching up to do.

          • On December 3, 2020 at 8:06 am,
            OOTB Jerry says:

            Silver Guru……..reporting………silver needs to catch up for sure… ๐Ÿ™‚
            Platinum……..finally catching a bid…………………

      • On December 3, 2020 at 8:04 am,
        OOTB Jerry says:

        I like that $1915 call………..thanks Matt………..
        Looks like Glen, likes the Number also………

        • On December 3, 2020 at 11:45 am,
          b says:

          Who wouldnt like $1950?

          I went to buy phyzz precisely at the low of the dip. Perfect timing.
          A rare occurrence for me.

          My car blew up.

          Didnt think vehicles were part of the jr mining gold risks. ๐Ÿ˜‰
          Learning every day I guess.

  3. On December 2, 2020 at 9:18 pm,
    Glenfidish says:

    Matt,

    Your correct it ainโ€™t going down there again to $1781 come to think about it. I do like $1915
    I think this week green candle next week green candle definitely going into that $1880 your target 1915 first then $1940-1950 before a pull back to complete that right shoulder.

    • On December 3, 2020 at 8:07 am,
      OOTB Jerry says:

      Bottoms UP……….cheers……… Bottoms in……..
      I said Gold was going higher…lol :)……. J. the Long… ๐Ÿ™‚

      • On December 3, 2020 at 8:11 am,
        OOTB Jerry says:

        $2000 After Christmas…. ๐Ÿ™‚

        • On December 3, 2020 at 8:12 am,
          OOTB Jerry says:

          Biden might be in Jail by then…. lol ๐Ÿ™‚

  4. On December 2, 2020 at 10:38 pm,
    Matthew says:
  5. On December 2, 2020 at 10:42 pm,
    Matthew says:

    Just like the low in March, gold bottomed at the 233 day MA:
    https://stockcharts.com/h-sc/ui?s=%24GOLD&p=D&yr=1&mn=6&dy=18&id=p13508134443&a=752776781

    • On December 3, 2020 at 8:20 am,
      OOTB Jerry says:

      One question……….Why, is the 233 day moving average important….?
      Why use 233 dma….. Just wondering….. thanks…
      From, J. the Long….. ๐Ÿ™‚

      • On December 3, 2020 at 9:03 am,
        Matthew says:

        233 is a Fibonacci number and I have found that the 233 MA is sometimes more useful than the much more widely followed 200 MA. The recent low in gold is a good example. The 233 MA marked the low while those who follow the 200 MA might have sold out needlessly when price closed below it for two days…
        https://stockcharts.com/h-sc/ui?s=%24GOLD&p=D&yr=1&mn=1&dy=0&id=p98618103170

        • On December 3, 2020 at 9:07 am,
          Matthew says:

          If you’re not familiar with Fibbonacci numbers, the next one after 233 is 377 and the one just before 233 is 144. So 233 has quiet a bit of room around it. Here are the Fib-based MAs from 13 to 610 (600 here since stockcharts doesn’t go any higher – close enough):
          https://stockcharts.com/h-sc/ui?s=%24GOLD&p=D&yr=1&mn=0&dy=0&id=p92272608891

        • On December 3, 2020 at 12:17 pm,
          OOTB Jerry says:

          THANKS MATTHEW…….good thought on the 233 vs 200 dma…..

  6. On December 3, 2020 at 6:48 am,
    Marty says:

    Clive Maund has โ€”The Essay of the Millennium โ€”on 321gold.com. Spend the 15 minutes, a must read and printout.

    • On December 3, 2020 at 12:10 pm,
      b says:

      Half the world could get Russian Sputnik V Covid-19 vaccine, say creators, as Moscow starts distributing doses en masse
      3 Dec, 2020 14:31

      https://www.rt.com/russia/508581-sputnik-v-mass-vaccination/

    • On December 3, 2020 at 2:47 pm,
      OOTB Jerry says:

      Marty……..I posted your mentioned article, for others…..over at the political spot…..
      I think it is SPOT ON………………jmo
      Death of …from 1947 to 2020……

      • On December 3, 2020 at 6:04 pm,
        Matthew says:

        Actually, freedom became imaginary after the creation of the Federal Reserve and the institution of the income tax. There’s no way around that fact.

        • On December 4, 2020 at 5:19 am,
          OOTB Jerry says:

          Well, I would have to agree with that fact…..

  7. On December 3, 2020 at 6:52 am,
    Marty says:

    Cory, Gold wasnโ€™t breaking down, it was beingโ€ taken downโ€ that can only be remedied by the reinstatement of the uptick rule, maybe even a double uptick rule

    • On December 3, 2020 at 8:08 am,
      OOTB Jerry says:

      Ditto Marty……….. they young ones do not get it yet…. LOL…. ๐Ÿ™‚

      • On December 3, 2020 at 8:09 am,
        OOTB Jerry says:

        they to the….sorry

  8. On December 3, 2020 at 1:22 pm,
    Charles says:

    Who you calling young Jerry? Your older than me. Am I young LOL!!

    • On December 3, 2020 at 1:58 pm,
      OOTB Jerry says:

      Do not know Charles……how old are you….?

  9. On December 3, 2020 at 5:25 pm,
    Charles says:

    56.

    • On December 3, 2020 at 8:55 pm,
      OOTB Jerry says:

      72 here Charles, that make you a youngun….lol……. ๐Ÿ™‚
      Respect you elders, now….lol ๐Ÿ™‚

      • On December 6, 2020 at 1:53 pm,
        Charles says:

        Absolutely! Elders have Devine wisdom! I have learned a lot from you Jerry and I always enjoy your posts, rants and especially the wry humor.

  10. On December 3, 2020 at 5:26 pm,
    Charles says:

    No more political board Jerry?

    • On December 3, 2020 at 9:02 pm,
      OOTB Jerry says:

      The snowflakes cried to Cory, and the Political board has been relegated to the corner of the board, which you really have to look for it, …if you are new, there is no way you will find it….what a joke….jmo of course……

      • On December 4, 2020 at 5:22 am,
        OOTB Jerry says:

        Look for the red, white and blue to the left ……that is the new political statement section…..shrinking freedom, ….must to how must conform to the CROWN…. lol