Category: Reports

  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 […]

  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 […]

  Tomorrow should signify a key day in metals and miners. Either prices will bottom and begin to bounce/rally, or they could enter the second phase of a selloff. I mention the latter because it’s been 8-trading days since the recognition day and prices usually bottom by now. A close above the previous day’s high […]

  Metals and Miners should be close to reaching an interim daily cycle low, likely this week. How prices react out of that low will establish the near-term outlook (next 3-Months). Miners look particularly close to bottoming. I will use any close above the previous day’s high as a short-term buy signal (for nimble traders). […]

  The correction I’ve been expecting is indeed delayed, but evidence still supports its arrival. Volume in metals and miners should increase as prices breakout to new highs; it hasn’t. Silver makes new intraday highs but then closes lower. And there was selling-in-strength today in GDX. Those factors are supportive of a top and not […]

  Metals and miners may have topped today, but we won’t know until each close beneath their respective 10-day EMA’s. The dollar tested the 100 level again, and it should bounce as precious metals correct. Oil is in a drawn out topping situation similar to that of mid-2015. We may get a decent short play […]

  Gold and silver are bouncing modestly out of the oversold conditions. I was anticipating gold prices to remain below $1,170 and silver below $16.60. Miners, on the other hand, have exceeded my expectations for an oversold rally and could be signaling a bottom. If the miners take out key levels (outlined below), I’ll change […]

  The probabilities favor precious metals sinking further into a major 8-year cycle low. Traditional cycle timing suggests a bottom by the first quarter of 2017, most likely in February. If this is the case, then selling should expand during the next down leg; particularly in silver as it catches up to gold. Silver prices […]

  As a technical analyst, I formulate market opinions and anticipate price behavior that aligns with my interpretation. If things don’t unfold in as projected, then my outlook may need altering. Below are my current expectations. If we are dropping into an 8-year cycle low, I’d expect to see increased selling in silver and miners […]