Metals and Miners are bouncing as the dollar finishes what appears to be a small inverse head and shoulder bottoming pattern. If our analysis is correct, the rebound in precious metals should end next week. A daily close above 97.50 in the US Dollar will establish a breakout. A breakout in the dollar should […]
Continue Reading →Gold and Silver formed weekly swing highs, and prices should be working their way down into the 6-Month low. The bull market breakouts in 1986 and 2002 are similar to the current setup. If the correlation advances, we should see gold break above the long-term trendline later this year, confirming a bull market. Metals […]
Continue Reading →Gold and Silver prices refuse to turn lower. The next swing high in metals should be enough to form a top. The May employment numbers will be released tomorrow at 8:30, expect volatility in the morning. I will attempt to post an update before the open. The US Dollar remains under pressure. However, it’s […]
Continue Reading →Our outlook for another decline in precious metals and miners will likely be confirmed or rejected next week. The minutes from the May 3rd FED meeting will be released Wednesday at 2:00 PM. From that, we can calculate the likelihood of a June rate hike (currently at 78.5%). On May 25th, OPEC will attempt […]
Continue Reading →The US Dollar broke down sharply today, but I think prices are nearing a significant bottom. Today’s move may be a false breakdown before a sustained move higher. I will be watching prices closely for signs of bottoming this week. Gold finally confirmed the third daily cycle. Prices are nearing resistance. The dollar and […]
Continue Reading →Gold Forecast: Prices Are Dropping Into The 6-Month Low Precious Metals and Miners are advancing toward their intermediate targets outlined in our April 21st exclusive: Gold Price Forecast – The Correction Into May Has Begun. The daily cycles are close to bottoming, and an interceding bounce is warranted. The short-term price objectives for DUST […]
Continue Reading →Gold closed the day at $1,240 and Silver at $16.48. Miners rallied most of the day but sold off after the FED announcement. Nonetheless, miners were relatively stable in the face of significantly lower metal prices. Perhaps subtle signs of bottoming. GDX rallied to the 10-day EMA by 2:00 PM before selling off. Prices […]
Continue Reading →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 →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 […]
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