The dollar is down, but it hasn’t broken support. Metals and miners are up. I’m still surprised at the sudden rise in miners before the Fed announcement. That is the type of action you expect after a significant decision – not before. It leads me to believe that prices are about to top dramatically or […]
Continue Reading →The HUI/GLD ratio is approaching critical resistance. Since early 2017 most advances in the mining/gold ratio terminated after spiking briefly above the 200-day MA. The green downtrend line has kept the ratio in check. Will this area defeat prices once again? If history is a guide, we could see the ratio spike over the […]
Continue Reading →The next 72-hours are critical. It seems nearly every market is at a significant tipping point. Tomorrow’s Fed decision will either extend or reverse the current trends. Expect increased volatility. -GOLD- It looks like prices are trying to break higher from the small bull flag. Resistance coordinates between $1258 – $1270. If we […]
Continue Reading →Bitcoin is below the $5700 support level (currently $5,219) and prices could enter a secondary collapse. The next level of support is $5000. Below $5000 and investors may begin to panic. It looks like prices are heading to $2000 – $3000 before the next significant bounce. For review, here is the August Bitcoin […]
Continue Reading →I purchased JDST last week at $73.45. Prices are up nearly 15%. I’m leaving tomorrow for a hunting trip, and internet access will be minimal. I’ve decided to place a stop just below today’s $80.37 low to protect the gains.
Continue Reading →Little changed from the previous update. Gold, Silver, and GDXJ all broke their October 31st pivot lows, GDX hasn’t. The setup for a sharp 3-5 day decline remains. However, if it’s going to happen, it should occur relatively soon. Like I said, maybe gold needs to fall below $1200 before we see a significant […]
Continue Reading →We are getting some downside price action in metals and miners today. I’m pretty confident this is the beginning of the November decline that should lead to a December bottom. At the moment, I do not see the sharp down swing in miners I felt was possible. That may change later today or on […]
Continue Reading →We are getting some downside follow-through after yesterdays Fed announcement. Gold (December) is below the $1213 low set last week. Silver is back below the $14.25 level. I imagine we will see miners gap lower at the open. If this is the collapse described in the GDX bull trap update, then we should see […]
Continue Reading →Gold fell below $1223 (currently $1222), and prices appear to be slipping after today’s Fed announcement. The next vital levels reside at $1218 and $1212. -GDX- If we are going to see a November breakdown, it should begin soon. If prices aren’t heading decisively lower by tomorrow or Monday, then we could be stuck […]
Continue Reading →There was very little change in the Fed statement. A hike is expected in December and more in 2019. Gold initially spiked higher – then lower, and prices are back to where they started (currently $1225). Gold would have to drop below $1223 and then $1218 to support a near-term breakdown. Rallying above $1230 […]
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