There is further weakness in Gold, Silver, and Miners today revealing why they were unable to confirm lows last Friday. I expect the $1,300 level in gold to hold this week. Consecutive closes below $1,300 would suggest my cycle count is off, and I will need to adjust. I give that scenario low odds […]
Continue Reading →GLD has touched the 20-day MA, and could find support here. I would be surprised if GLD drops below 124 during this correction. I think it’s safe to buy at these levels. In spot gold, I would grow concerned if prices fell below $1,310. I’m expecting 138+ in GLD later this summer with the […]
Continue Reading →Prices made a new closing high today. However, they never closed below the 10-day EMA in mid-June, potentially a sign of strength. Recent cycles have topped after 21-days, and we are currently on day 20. Despite making the new high, I’m not sure prices will stay there for long. I will be watching for […]
Continue Reading →The Brexit vote is in full swing, and we should have an inclination of the results by midnight. The official announcement will arrive between 5:00-6:00 AM EST. Britain will probably remain in the EU, and I think money will start flowing back into stocks and the “risk on” trade might resume. There could always […]
Continue Reading →Prices Will Likely Top Soon This move in gold has caused me concern and after exhaustive examination, I may have found the clue I’ve been seeking. Below is an eerily similar pattern to what we see now and if it plays out verbatim, gold should top very soon. In early 2014 Gold showed relative strength […]
Continue Reading →02/08/2016 Question: Is the action in gold and the miners telling us the bear market after 4-years has finished? Answer: I think that is what the bear market wants people to believe before it drops down into the 8-year cycle low later this year or in early 2017. COMMENTARY: If the correction is over, then […]
Continue Reading →Just wanted to say something regarding the strength we see today. The power of gold, silver and miners continues, and it’s best to wait for signs of a top before taking any short positions. Previous cycles have topped in similar overbought conditions but nothing is guaranteeing a top must come now. -GLD- Today prices made […]
Continue Reading →