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 […]
Continue Reading →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 […]
Continue Reading →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 […]
Continue Reading →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% […]
Continue Reading →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 […]
Continue Reading →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 […]
Continue Reading →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. […]
Continue Reading →We are seeing subtle signs of topping today in metals and miners. The Dollar tested significant support around 93.00 and is trying to rally. Gold and Silver could form swing highs if they close below today’s intraday low’s tomorrow. -GOLD CYCLE HIGHS- Gold has been topping every 34-35 trading days. If the cycle count […]
Continue Reading →Gold and Silver are popping to new Intra-week highs. If they hold these gains into the close, an interim rebound will be established. Gold should engage resistance between $1,235 and $1,250. However, an extended recovery could push prices back to test the $1,260 – $1,265 zone during the last week of July. The rebound […]
Continue Reading →Metals and Miners continue their rise, and this looks like the bounce we were anticipating. Both gold and miners (GDX and XAU) failed to reach the trendlines outlined in the Weekend Newsletter. The interim rally we are observing should be short-lived. I’ll be looking for prices to top between now and Wednesday of next […]
Continue Reading →