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 […]
Continue Reading →Tonight’s election results and tomorrow’s response will likely determine where gold and silver are headed for the balance of the year. A strong rally tomorrow and we can probably take the head-and-shoulder topping pattern off the table for GDX and HUI. Whereas, a significant decline tomorrow will boost the odds of an even further […]
Continue Reading →The miners appear to have broken down today; the final move lower should be underway. As the formation develops, we will refine our targets and timeframe. I will advise members when I begin to enter positions. -US DOLLAR- Prices bounced off the 10-day EMA and are attempting another push higher. -YEN CHART- The […]
Continue Reading →Well, we finally got the breakdown in prices we were looking for. There was tremendous progress achieved today; this will likely to push forward the intermediate-term bottom from November to October. With the huge drop toady, prices are at or on the verge of becoming oversold. I still think we will descend a bit […]
Continue Reading →Gold, Silver, and Miners are moving within a larger correction pattern, and prices will eventually break lower. I wanted to spend some time explaining why I continue to look lower in precious metal prices. The majority of the Thursday report will be spent illustrating the positive correlation between the Japanese Yen and gold prices. […]
Continue Reading →Our Buy Zone analysis is on track. The next signpost we are waiting for is a price break of the recent common cycle lows. When that occurs, I expect selling pressure to intensify, and prices should finally enter the upper portion of the Buy Zones. Once in the Buy Zones, I will do my […]
Continue Reading →Another day of weakness in metals and miners. If gold is indeed forming a small bear flag, it should break lower by tomorrow or Monday. I’m assigning roughly 70% odds to the alternate scenario. If there isn’t a decisive breakout either higher or lower this lack of action could morph into a tedious sideways […]
Continue Reading →Gold prices corrected to the 20-day MA, and have satisfied my outline for a correction. Miners and silver are forming high-level consolidations, it doesn’t look like they will drop any lower. We should see prices start to move higher again shortly. -US DOLLAR- The dollar is still consolidating, but it’s now getting close […]
Continue Reading →As the update indicated, we are getting a more consistent correction in gold prices than we witnessed last Friday after the jobs report. I don’t expect this to last very long, and gold should stay above $1,300. -US DOLLAR- The dollar is still stuck at the 200-day MA and can’t gather momentum in […]
Continue Reading →To no surprise, everything is lining up to either breakout higher or breakdown this week. I think bullish sentiment is very high, and the corrections into the May low’s seemed inadequate. Whichever way prices break following the Brexit vote will determine if the 6-month cycle bottomed in late May or if this move has been […]
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