Category: Updates

Must Hold Bullish & Bearish Price Levels for Gold and Miners

Fri, 9 Jul 2021

    Gold Forecast – Must Hold Bullish & Bearish Price Levels for Gold and Miners   Metals and miners continue to climb a wall of worry out of their June lows. In this update, I provide key prices levels to monitor into August. Overall, our long-term outlook remains firmly bullish.   Red Flag or […]

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CYBERATTACK UPDATE

Wed, 2 Jun 2021

  Cyberattacks are becoming more prevalent. A few weeks ago, bad actors attacked the Colonial pipeline and now the largest meat supplier in the U.S. I believe these attacks on infrastructure and the food supply will continue. We are no longer dealing with tech-savvy hackers living in their mom’s basement. These hacks are sophisticated and perpetrated by Artificial Intelligence. […]

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GDX UPDATE 12:48 PM

Mon, 3 May 2021

  Metals and miners are on the move, and it looks like the 40-day cycle bottomed in line with our expectations. We should be starting a new 40-day cycle higher. The next low isn’t due until late June, so we have some room to run. I’d like to see a 5%+ bullish recognition day in […]

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MORNING GOLD UPDATE 9:14 AM

Fri, 9 Apr 2021

GOLD 4-HOUR CHART: Gold (currently $1732.80) was unable to break above resistance surrounding $1760 on the first attempt. Prices are pulling back and should find support between $1720 – $1740. It would take a sustained breakdown below $1715 to propose a deeper pullback. Otherwise, I’ll look for prices to stabilize and prepare for the next […]

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MORNING GOLD UPDATE 8:00 AM

Fri, 12 Mar 2021

  Gold is back down to the $1700 level (currently $1703.50) as the 10-year yield pushes back towards the critical 1.60% level. I still think gold is probably near a bottom, but more downside remains possible if yields spike toward 2.0% near-term.   The jump in yields could be just a knee-jerk reaction to the […]

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GDX UPDATE (POSSIBLE BOTTOM) 8:45 AM

Thu, 11 Mar 2021

  Building off last night’s GDX update, I wanted to point out additional similarities between 2016 and now.  GDX 2016 CORRECTION: After a very sharp rise in 2016, miners entered a multi-month corrective phase. The 2020 pattern is following a similar path and could confirm a bottom soon.  Note: The third and final breakdown (below […]

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MARKET UPDATE 11:32 AM

Thu, 4 Mar 2021

  The SPY is very close to testing last week 378 low. The market remains vulnerable to a potential breakdown into mid-March, similar to 12-months ago.  Potential Breakdown Triggers: Senate negotiations over the $1.9 trillion stimulus turn negative or spiking interest rates are the obvious choices.  I don’t know if prices will break lower, but the […]

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GOLD NEARING PRE-COVID HIGHS

Thu, 18 Feb 2021

  Gold has been in a downtrend since August 2020. Investors are turning bearish, and we could see a selling climax in the coming days. Our gold cycle indicator is near its maximum bullish reading, and we expect a bottom forthwith.   It’s important to note that gold is approaching its pre-Covid (February 2020) high […]

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MORNING GOLD UPDATE 8:33 AM

Wed, 17 Feb 2021

  I believe gold (currently $1776) will test and likely undercut the November low in the next few days. That should usher in a bottom as the remaining weak hands exit their positions. I see good support around $1740, but prices could spike a bit lower temporarily.

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METALS UPDATE 8:52 AM

Tue, 9 Feb 2021

  -GOLD CYCLE UPDATE- Both the September and November lows arrived about 45-trading days apart. Last Thursday’s breakdown to $1784.60 occurred 45-days after the November low. Closing back above the 50-day EMA (currently $1858.67) would prescribe a successful retest of the November low and the beginning of the next uptrend.   Gold futures (currently $1845) […]

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