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 […]
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 →Gold and Silver rallied today, but miners underperformed on a relative basis. The relative weakness sustains our outlook for lower prices this Spring. The dollar should reach a cycle low between now and Monday. Consequently, I’m anticipating the rebound in precious metals to halt once the dollar bottoms. I will monitor for signs of […]
Continue Reading →Miners rallied nicely yesterday, further endorsing interim lows. However, gold and silver are yet to establish proper swings and the potential for a decline after the FED meeting remains. In the Weekend Newsletter, I noted how gold and silver had a tendency to bottom shortly after the rate hike. The odds for a rate […]
Continue Reading →Miners are testing yesterday’s highs, and we may have an interim low if prices close above them. A bounce should last 1-2 weeks. The first line of resistance arrives around $23.00. -GDX- Prices are testing yesterday’s high. A daily cycle low is likely if prices hold this level or better into the close. The […]
Continue Reading →The employment numbers arrived at 235,000, with a 4.7% unemployment rate; a positive report. Gold and Silver are beginning to rally. If miners close above yesterday’s high’s, then we should have a daily cycle low. Prices should rally for 1-2 weeks, once the low is established. I’ll assess the rally/bounce for strength and durability. […]
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