Juniors tagged the 10-day EMA and reversed. The bullish flag pattern remains intact. Closing below the 10-day would hurt the bull flag setup. If prices are going to break higher, they need to do so within the next few trading days, or the pattern will fall apart. I considered removing my JDST hedge to […]
Continue Reading →This looks like a classic bull flag. I’m tempted to play an upside breakout. With a flag pattern, the shorter the consolidation (in days), the more powerful the underlying move. Miners have been consolidating for 5-days (including today). The initial rally was just 4-days. Not exactly a picture of strength. I’ll see how the […]
Continue Reading →Prices are set to open around the $19.00 level. What happens after the open is important. If prices blast through and remain above the $19.23 high, then I will look for a potential top between $19.50 – $20.00. Closing above $20.00 in the coming days would sponsor a rebound to the 200-day MA. If […]
Continue Reading →-GDX- Miners gapped slightly higher, and we see follow-through after the open. I’m not sure why because gold is up just $4.00 and the dollar seems to be reversing higher. Like I said in yesterdays report – “A solid close above the $18.55 level would support a rebound to the $19.75 gap. Whereas a […]
Continue Reading →-GDXJ- I haven’t seen enough to recommend a portfolio adjustment, that will change if juniors close above $26.85 later this week. If juniors close above $26.85 in the coming days, I’ll expect a move back to (at least) the $29.00 level.
Continue Reading →The dollar is above the key 95.00 level, and a cycle low is likely. However, it will take a few more trading days before a bottom is confirmed. Gold is trading below the morning low (currently $1204.8). Prices will probably close above $1200, but the overall price action looks frail. -GDX- Miners continue to […]
Continue Reading →It looks like miners are rolling over after 11:00 AM. I’m going to increase my exposure to JDST and DLSV at this time. -JDST- It looks like miners are rolling over after 11:00 AM. I’m increasing my JDST holdings by 25%. -DSLV- I’m increasing my DSLV holdings by 25%.
Continue Reading →Consumer sentiment dropped to a 7-month low, but it came in above estimates. Gold and the Dollar continue in their sideways consolidations that began Tuesday. Neither has done enough to confirm or deny a breakdown. -GDX- I’m curious if this bear flag is a little too obvious. It seems like the perfect setup for […]
Continue Reading →Gold rallied overnight to $1214.90. It needs to get above $1215 to support another attack on $1220. Prices are pulling back and trading near $1208.50 as I write. Gold needs to hold $1206 and turn higher in the coming hours to support another advance. Below $1204 and the short-term pattern will likely break lower. […]
Continue Reading →The Dollar is bouncing, but it hasn’t done enough to support a cycle low. So technically, this could be just a 1-3 day rebound. -DOLLAR (4-HOUR) CHART- I’m skeptical about a cycle low in the Dollar until prices close decisively above the green trendline. -GDX- Miners are poised to close below the $18.80 level […]
Continue Reading →