1D·

I could use some help from the chart analysts here 🙏

Given the sharp drop in the price of gold, I’d like to buy 10k gold, 5k $EWG2 (+0.04%) and 5k in physical form!

Where is the next support level? Or are we in free fall? Buy now or stay away?

Thanks in advance!

Wishing you all a wonderful day 🙂

20 Comments

Twizzi@Twizzi

You can find more support on getquin under Help & Support 👌

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S.A.U.@SAUgut777

@Twizzi It’s sad enough that you have to like your own posts, but you also think you’re really funny, don’t you? 🫣

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Twizzi@Twizzi

@SAUgut777 I think I'm pretty funny—you're right about that.

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S.A.U.@SAUgut777

@Twizzi If "da hat" shows up, "machen tun" is sure to follow, or 🤷🏻‍♂️

But you're right, you're really funny 🤣

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S.A.U.@SAUgut777

@Twizzi Well, at least you edited your post 👍🏻 ...and thanks for blogging 👋🏻😂

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Twizzi@Twizzi

@SAUgut777 I don't mean to be mean, but I don't want to surround myself with such negative people.

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Marvin.22b@Marvin22b

If you're wondering where the next support level is, you've probably already hit it. ;) But it generally comes down to having a good eye for it. It's usually easy to spot.

No one can give you a serious answer on whether you should buy now or stay away. :)

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Basti92@BavarianLion

@Marvin22b No, I was more wondering if we're heading toward a support zone right now? Or if one might have just been broken and we still have room to fall!

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Fabian W.@FabianWi

$4,000 next support level

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Basti92@BavarianLion

@FabianWi Thanks for the reply 👍

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GiCi@GiCi

Next support should be 4.000USD. If broken, some say 3.500

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Stocktective@Stocktective

I’m no expert, but wouldn’t it be better to evaluate something like gold based on macroeconomic data? Gold = no cash flow

I’d say the current outlook is bad for gold:
- The Fed is leaning hawkish
- 10-year Treasury yields are rising again
- The jobs report was better than expected

The current outlook is good for gold:
- Central banks have accumulated a lot over the past few years
- Iran conflict

Inflation is about 50/50 right now; the market doesn’t seem too sure at the moment. So I’d probably wait and see if the worse-case scenario intensifies over the next few weeks—if so, the price could still fall.

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Basti92@BavarianLion

@Stocktective I was actually also hoping to reach the 500g mark! I have 100g on Euwax2 and about 350g in stock! But I don’t want to just buy the missing 50g blindly when I know the price could drop significantly in the near future 😉

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Stocktective@Stocktective

@BavarianLion Absolutely, I prefer to buy at a lower price too. That’s why I suggested taking a look at the factors that strongly influence the price of gold. In my opinion, it seems like it would be best to wait for now.

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jkb92@jkb92

@Stocktective That would also fit the chart right now.

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jkb92@jkb92

At current levels, we’re seeing slightly higher volume and prices around the low from late March. I’d just wait and see if the price stabilizes here. If not, we won’t see significant volume again until around 3,300. That doesn’t necessarily mean anything, but it’s a good benchmark to watch.

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Basti92@BavarianLion

@jkb92 Thanks 👍

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Cat64@Cat64

16H

I have gold and silver charts from some analysts which show a big drop in August. If the charts are to be believed, then that would be your perfect entry point. They use Elliot wave analysis...

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Basti92@BavarianLion

16H

@Cat64 Thanks 👍

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Cat64@Cat64

15H

I'm newish to Getquin and haven't worked out how to add photos yet. If I do, I will add the charts

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