Gold prices are moving down into their third daily cycle low. Prices have met the minimum requirements for a cycle bottom, but the structure looks incomplete. Breaking below $1,260 next week should lead to another wave of selling. Miners have dropped significantly from their April highs. Prices are oversold on a short-term basis, but […]
Continue Reading →The short-term objectives (4-5 Weeks) in DUST and JDST are making headway. However, geopolitical instability or a Trump tweet could change things instantly. Nevertheless, the action in miners today bolsters our analysis. DUST prices could reach $36.00+ in May, and I presented the potential target area for JDST. These trades are countertrend and therefore […]
Continue Reading →10:51 AM – Metals and Miners are exhibiting continued signs of weakness today. If prices remain under pressure, we could see gold finally close beneath the 10-day EMA. There’s lots of trading left; let’s see how prices respond. 11:39 AM – Crude oil is breaking below the $52.70-$52.50 level. I removed the remainder of […]
Continue Reading →The big news today was gold’s inability to rally significantly despite an extremely weak dollar. Today’s action supports a maturing and fatigued gold cycle. However, prices still need to close below $1,283 to form a swing high and then beneath the 10-day EMA to reinforce a top. Silver and Miners made swing highs, completing […]
Continue Reading →Gold reached a high of $1,297.40 in overnight trading and prices are back down to where they closed Thursday ($1,288). Silver reach $18.65 and has fallen back to around $18.54. Gold needs to break below $1,273, and silver needs to drop below $18.24 to promote a breakdown in price. -SILVER COT REPORT- I […]
Continue Reading →There were subtle signs of topping on Thursday as Gold and Silver both formed Doji’s (cross-like formations). This candlestick pattern sometimes appears near cycle inflection points. GDX rallied to the 200-day MA and subsequent BreakPoint. However, prices failed to close above these critical levels. The March rally has reached the maximum retracement level for […]
Continue Reading →It’s disappointing when precious metals diverge from my forecast. When this occurs, I spend countless hours pondering the charts and various cycles seeking answers. I want our members to be informed, and if I’m wrong, I will readily acknowledge it. Here’s what I think happened. The missile strikes in Syria are likely extending the […]
Continue Reading →This report will cover our medium-term outlook for precious metals as well as gold’s longer-term forecast. Our analysis suggests Metals and Miners probably topped last Friday. If correct, prices should drop for the rest of April and into May. We will monitor the decline for momentum, and strength of trend. If prices move powerfully […]
Continue Reading →Tomorrow is the 20th day of gold’s third common (daily) cycle out of the December low. Prices are just reaching the February high, a sign of weakness. We should get some resolution tomorrow. It is still possible for gold to spike above $1,265 and silver above $18.50 before topping. Expect frequent updates tomorrow. Miners […]
Continue Reading →There were increased signs of topping in Metals and Miners today. Meaningful follow-through to the downside tomorrow will increase the odds of a cycle top to about 90% (currently 60%). I’d also like to see the dollar close back above the 100 level before labeling its cycle low. Once the highs in Gold and […]
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