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 […]
Continue Reading →Category: Updates
MORNING NOTE 9:15 AM
TUESDAY REPORT 2/19/2019
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 […]
Continue Reading →CLOSING UPDATE 3:20 PM
Unfortunately, I’ve been driving somewhat blind without the crucial COT data. The 35-day government shutdown delayed that aspect of our analysis. It would be nice to know where the commercials stand. Below is GDX as of about 3:20 PM. -GDX- Miners are inching higher this afternoon. The last 15-30 minutes could get interesting. […]
Continue Reading →TRADE ALERT 1:23 PM
WILL GOLD BREAKOUT ABOVE $1360?
Precious Metal Investors (myself included) have been beaten down trying to trade these markets over the last 3-5 years. Are investors expecting a breakout? I bet there are fewer bulls now than during last April’s breakout attempt. If the masses aren’t expecting it – then, a breakout is possible. Below are key levels […]
Continue Reading →NEW TRADE ALERT AND UPDATE 10:22 AM
-GDX- We have a large up-gap and prices are extending higher. Today’s close is what matters. -GDXJ- The lower gap level in juniors is $32.95. A close below that would recommend a top and subsequent sell signal. The bull flag targets approximately $35.60. -NUGT- I got in at $21.18. Exit on a daily close […]
Continue Reading →MORNING UPDATE 9:12 AM
Gold (April) is at fresh cycle highs, currently trading around $1335. The latter part of a cycle tends to get tricky, so caution is warranted. Gold is approaching major resistance between $1345- $1365. The current intermediate cycle bottomed last August (6-months ago). This cycle is beyond long in the tooth, and we have clear […]
Continue Reading →AFTERNOON UPDATE 2:53 PM
MORNING UPDATE 8:43 AM
Everything seems to be trading higher this morning – Gold, Silver, US Dollar, S&P 500, and Oil…all up. Several of these are inversely correlated, so it is odd to see them trading higher together. That usually indicates a false move in one or more of the above assets. We should know which market is […]
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