Metals and miners continue to steady after forming September lows. Continued upside into November would be bullish. I see the potential for a buy rumor and sell the news event regarding the long-awaited bitcoin ETF. Bitcoin prices spiked lower this morning. Not sure if it was a glitch or actual selling. Either way, it […]
Continue Reading →China declares all crypto-currency transactions illegal Below is a snippet from the above article. China’s central bank has announced that all transactions of crypto-currencies are illegal, effectively banning digital tokens such as Bitcoin. “Virtual currency-related business activities are illegal financial activities,” the People’s Bank of China said, warning it “seriously endangers the safety of […]
Continue Reading →BARRICK GOLD 3-YEAR CYCLE: The 3-year cycle in Barrick Gold (GOLD) seems to set critical turning points every third September. With prices steadily declining for the past 12-months, the odds support a potential bottom brewing in the following days. Perhaps Wednesday’s Fed decision will force a low (possible spike low). From a technical […]
Continue Reading →GDX 15-MONTH CHART: If GDX stays above $33.00 in September, I see the potential for a Double Bottom (March/August 2021). An advance above $40.00 would confirm a bullish breakout and support new highs in 2022. GDX 8-MONTH CHART: Ending the week above $33.00 would be bullish. However, stiff resistance lies just ahead at […]
Continue Reading →The intermediate cycle in gold (chart below) has formed turning points roughly every 128-calendar days (4.2-months). That cycle just turned again, triggering an intermediate low on August 9, 2021. Gold must now stay above that low to prevent a breakdown to the $1500 to $1550 area. KEY PRICE LEVELS A sustained breakdown (more […]
Continue Reading →Gold prices stabilized after spiking below $1700 early in the week. A close on Friday above $1760 could trigger a bullish reversal and a potential double bottom. Before we jump into the weekend, I wanted to mention the weekly chart of gold. GOLD WEEKLY: A close above $1760 on Friday would create […]
Continue Reading →Gold Forecast – Must Hold Bullish & Bearish Price Levels for Gold and Miners Metals and miners continue to climb a wall of worry out of their June lows. In this update, I provide key prices levels to monitor into August. Overall, our long-term outlook remains firmly bullish. Red Flag or […]
Continue Reading →Cyberattacks are becoming more prevalent. A few weeks ago, bad actors attacked the Colonial pipeline and now the largest meat supplier in the U.S. I believe these attacks on infrastructure and the food supply will continue. We are no longer dealing with tech-savvy hackers living in their mom’s basement. These hacks are sophisticated and perpetrated by Artificial Intelligence. […]
Continue Reading →Bitcoin Update – Prices Should Find Support Around $30,000 Bitcoin has seen a wild ride, losing over 50% from its April $65,520 high. The recent plunge appears almost over, and we see firm support surrounding $30,000. Our 2021 outlook expects new highs and an advance to $90,000+ by year-end. TECHNICAL OUTLOOK Bitcoin […]
Continue Reading →After a prolonged decline, gold miners continue to show signs of strength. The charts below support an intermediate breakout and a renewed uptrend in precious metals. If gold bottomed, as defined, it should stairstep its way back towards the $2000 level over the coming weeks/months. If you’re new to precious metals, […]
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