Category: Updates

  Yesterday’s sharp selloff may have been a fleeting event, we should know later today. Perhaps it was an overly aggressive gap fill, or maybe it was manufactured by a large institution. Whatever the case, as long as metals and miners remain above yesterday’s selloff lows, I’ll look to our early February targets. However, closing […]

  The dollar appears to be breaking lower and I’m going to add the final tranches of USLV and JNUG. Both miners (GDX/GDXJ) filled their gaps, and prices are trying to reverse. Final USLV at $11.45 Final JNUG at $17.90 I’ll be out of the office until 5:00 PM.  The SCO trade will likely get […]

  I’m changing the color codes on miners to “ADD TO POSITIONS.” Prices have declined to support around the moving averages. Metals have declined minimally. I’d like to see a little more price action before I add to USLV. -JNUG- I’m adding 1/2 of my remaining JNUG position now at $16.59. If prices sink a […]

  It looks like Bitcoin topped and prices are down 30% as I write. After surpassing $15,000 in December, the next logical level to strike was $20,000. Prices fell short reaching $19,891.00 before running out of buyers. Here is a snapshot of Bitcoin on December 17th when I thought prices may have topped. Here is […]

  Gold has officially broken the October $1,262.80 low (currently $1,258). I prefer to see prices close (at least twice) below a critical level before considering it thoroughly defeated. Despite the recent weakness, we are yet to see panic selling. Perhaps, gold needs to drop below $1,250 to scare the bulls truly. Nevertheless, we are […]

  Precious Metals and Miners are dropping, and gold is approaching October’s $1,262.80 low (currently $1,266). If prices remain under pressure, a recognition day is likely. Remember, a recognition day is a high volume down day when bulls acknowledge a breakdown and begin to panic out of their positions. Typically, miners (GDX) will drop 3% […]

  Metals and Miners are rallying instead of breaking down. The trend is a mess, attempting to trade these markets is dangerous. Gold needs to break the October high ($1,308.40) or the October low ($1,262.80) for direction. Otherwise, prices will remain in a challenging range. Metals and Miners could set rebound highs this week. There […]

  I posted a price forecast at www.goldeagle.com. It includes timing information that backs the second week of October for a low. Most of the information you already know. However, deeper analysis supports October 10th as a key date.   GOLD FORECAST: Prices Are Setting Up For An October Low   Several factors support an […]

  I was hopeful gold would regain the $1,300 level and rally into October. Prices jumped to $1,317 yesterday but slipped immediately back below $1,300. Failing to retake $1,300 provided valuable clues regarding the current cycle count. If correct, metals and miners should decline for another week or two before reaching the next cycle low. […]