Several of the charts below are at critical junctures. They are all at or very near their potential breakout points. Within the next few days, I think prices will either top and turn back lower or break actively higher. These are just examples and not trade recommendations. If prices do break higher, I’ll consider […]
Continue Reading →Gold is approaching the long-term breakout zone near $1380. The next few trading days are critical. If prices are going to breakout, then gold should slice through the $1360-$1380 level with ease. Failing to breakout above $1380 will set the stage for a 2 to 4-week pullback into the next 6-month cycle low. If […]
Continue Reading →Unfortunately, I’ve been driving somewhat blind without the crucial COT data. The 35-day government shutdown delayed that aspect of our analysis. It would be nice to know where the commercials stand. Below is GDX as of about 3:20 PM. -GDX- Miners are inching higher this afternoon. The last 15-30 minutes could get interesting. […]
Continue Reading →Precious Metal Investors (myself included) have been beaten down trying to trade these markets over the last 3-5 years. Are investors expecting a breakout? I bet there are fewer bulls now than during last April’s breakout attempt. If the masses aren’t expecting it – then, a breakout is possible. Below are key levels […]
Continue Reading →-GDX- We have a large up-gap and prices are extending higher. Today’s close is what matters. -GDXJ- The lower gap level in juniors is $32.95. A close below that would recommend a top and subsequent sell signal. The bull flag targets approximately $35.60. -NUGT- I got in at $21.18. Exit on a daily close […]
Continue Reading →Gold (April) is at fresh cycle highs, currently trading around $1335. The latter part of a cycle tends to get tricky, so caution is warranted. Gold is approaching major resistance between $1345- $1365. The current intermediate cycle bottomed last August (6-months ago). This cycle is beyond long in the tooth, and we have clear […]
Continue Reading →What a wild week – Monday and Tuesday ended slightly negative in precious metals, and we received short-term sell signals into Wednesday’s close. Those signals were quickly annulled after Thursday’s weak retail sales numbers. By Friday’s close, the preceding bull flags in metals and miners were restored. The tail-end of an intermediate cycle (up […]
Continue Reading →Everything seems to be trading higher this morning – Gold, Silver, US Dollar, S&P 500, and Oil…all up. Several of these are inversely correlated, so it is odd to see them trading higher together. That usually indicates a false move in one or more of the above assets. We should know which market is […]
Continue Reading →Platinum remains the worst-performing precious metal. Prices are just above significant support at $750. If that level fails, then a decline to $650 is in the cards. Why is platinum out of favor – will it stay that way forever? At some point, something will cause a bottom and prices will rip to the […]
Continue Reading →Metals and Miners are up today after the abysmal retail sales numbers this morning. News driven events like this typically run out of steam relatively quickly. The potential bull flags that started in late January should have broken higher by now. Consequently, I think we will see more back and forth price action with […]
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