BARRICK GOLD 3-YEAR CYCLE: The 3-year cycle in Barrick Gold (GOLD) seems to set critical turning points every third September. With prices steadily declining for the past 12-months, the odds support a potential bottom brewing in the following days. Perhaps Wednesday’s Fed decision will force a low (possible spike low). From a technical […]
Continue Reading →Gold prices stabilized after spiking below $1700 early in the week. A close on Friday above $1760 could trigger a bullish reversal and a potential double bottom. Before we jump into the weekend, I wanted to mention the weekly chart of gold. GOLD WEEKLY: A close above $1760 on Friday would create […]
Continue Reading →Gold Forecast – Must Hold Bullish & Bearish Price Levels for Gold and Miners Metals and miners continue to climb a wall of worry out of their June lows. In this update, I provide key prices levels to monitor into August. Overall, our long-term outlook remains firmly bullish. Red Flag or […]
Continue Reading →Cyberattacks are becoming more prevalent. A few weeks ago, bad actors attacked the Colonial pipeline and now the largest meat supplier in the U.S. I believe these attacks on infrastructure and the food supply will continue. We are no longer dealing with tech-savvy hackers living in their mom’s basement. These hacks are sophisticated and perpetrated by Artificial Intelligence. […]
Continue Reading →GOLD 4-HOUR CHART: Gold (currently $1732.80) was unable to break above resistance surrounding $1760 on the first attempt. Prices are pulling back and should find support between $1720 – $1740. It would take a sustained breakdown below $1715 to propose a deeper pullback. Otherwise, I’ll look for prices to stabilize and prepare for the next […]
Continue Reading →Building off last night’s GDX update, I wanted to point out additional similarities between 2016 and now. GDX 2016 CORRECTION: After a very sharp rise in 2016, miners entered a multi-month corrective phase. The 2020 pattern is following a similar path and could confirm a bottom soon. Note: The third and final breakdown (below […]
Continue Reading →Gold has been in a downtrend since August 2020. Investors are turning bearish, and we could see a selling climax in the coming days. Our gold cycle indicator is near its maximum bullish reading, and we expect a bottom forthwith. It’s important to note that gold is approaching its pre-Covid (February 2020) high […]
Continue Reading →Silver is under attack, and prices are back below the $27.00 level. Yesterday’s gap higher was closed, and prices are backtesting the intermediate trendline. What happens next is crucial! A close below $26.00 would establish a false breakout and bearish reversal (favorite trick of manipulators). In this scenario, silver could collapse back towards $22.00, possibly […]
Continue Reading →Below is a snippet from a Bloomberg article I’m reading. It appears physical silver dried up over the weekend. Increased demand could push prices through $28.00 resistance and trigger a sharp rally next week. Silver Coin Sites Grind to a Halt as Reddit Horde Takes Aim Retail sites were overwhelmed with demand […]
Continue Reading →-DOLLAR DAILY- I think the dollar is experiencing a meaningful devaluation. Prices are extremely overdue for a bounce, but the trend pushes persistently lower. The final area of support arrives at the 2018 low of 88.15. If that level fails, I believe the USD could collapse to 80 by April/May 2021. -DOLLAR MONTHLY- We […]
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