Category: Free Updates

MORNING UPDATE

Tue, 26 Feb 2019

  April gold slipped to $1325.50 earlier today before bouncing. Prices are back up to around the $1330 level. Gold needs to rally above $1335 or decline below $1325 to break free from the short-term consolidation. I was stopped out of USLV this morning. The UGAZ position is profitable, and I’m raising the stop to […]

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CLOSING UPDATE

Mon, 25 Feb 2019

  The one-hour chart of April gold is crawling along the flattening 200-period MA. Crawl patterns typically break lower, often suddenly. For that reason, I added to DUST today at $17.55. Currently, it looks like metals and miners are inching closer to a breakdown. The crawl pattern in the above chart supports a dip to […]

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TRADING POSITIONS UPDATE 3:12 PM

Mon, 25 Feb 2019

  The one-hour chart of April gold is back down testing the 200-period Moving Average. I don’t know how many more times gold can test that level before there is a failure. I was stopped out of the NUGT trade with a profit just below $21.72. The USLV position has an active stop remaing just […]

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MORNING UPDATE

Mon, 25 Feb 2019

  We have a divergence between gold and miners on their intraday 1-hour chart. Gold is trending slightly higher while miners are down.   GOLD 1-HOUR GDX 1-HOUR It’s unclear how this will resolve; one is likely to play catchup into the close. Meaning, gold will either begin dropping with miners or miners will reverse […]

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MORNING NOTE 9:05 AM

Mon, 25 Feb 2019

  April gold slipped back to test the 200-period MA at $1327.30 this morning before bouncing. To support another attempt at $1350 prices would have to recapture the $1340 level convincingly. Slipping below $1323 would likely trigger another wave of selling. Same with silver. Below the 200-period on the 1-hour chart would support a breakdown. […]

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WEEKEND NEWSLETTER 2/24/2019

Sun, 24 Feb 2019

  Over the last few years whenever gold approaches the $1360 level, the price action gets a little volatile…perhaps even violent. One day the short-term model supports an upside breakout – the next day a failure. It’s like two heavyweight boxers going at it. You know somebody’s going to take a nap, but you’re not […]

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MORNING NOTE 8:50 AM

Fri, 22 Feb 2019

  Gold (April) is holding around $1328, and silver is staging near $15.80. There is no clear direction at the moment. Gold would have to retake $1330 decisively intraday to support a rally attempt. Declining below $1320 could trigger another wave of selling. Support for silver remains around $15.70, below that and prices could tumble. […]

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QUICK NOTE 12:54 PM

Thu, 21 Feb 2019

  The Noon selloff below $1330 in April gold could be one of two things. 1) It could be the beginning of a sharp selloff later this week. 2) It’s a low-volume manipulation to shake out bulls before higher prices. Today’s close and Tomorrow Morning’s price action will tell us which scenario. If prices start […]

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MINING UPDATE

Wed, 20 Feb 2019

  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 […]

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TUESDAY REPORT 2/19/2019

Tue, 19 Feb 2019

  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 […]

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