Category: Updates

WEEKEND NEWSLETTER 5/26/2019

Sun, 26 May 2019

  The cleanest cycle I can find is the XAU junior mining index. Prices have formed turning points every 45-trading days since September. It arrives again May 31st and should time the next low. -XAU- The 45-day cycle in the XAU has been quite accurate timing the last four turning points. The next one is […]

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MORNING UPDATE

Thu, 23 May 2019

  Metals and miners are bouncing as the stock market and oil selloff. Yesterday’s weakness in miners looked like the beginning of a pattern breakdown. Today, miners are higher, and anyone that bought the bearish breakdown is underwater. I remain focused on the last week of May for a probable cycle turning point. If stocks […]

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MORNING GOLD UPDATE

Wed, 8 May 2019

  The markets feel like a coiled spring waiting for the next news event. The multi-week consolidation pattern suggests prices will either break higher or we will see a terminal 6-month decline to around $1240 and $1255 in late May. The next big market reaction will determine which way prices break. At the moment (10:31 […]

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AFTERNOON UPDATE (POST FED BREAKDOWN?)

Wed, 1 May 2019

  The Fed left interest rates unchanged- no surprise. They noted inflation was below their 2% goal. That could open the door for a rate cut later this year. The dollar declined after the news. Gold turned positive momentarily, but prices may be reversing back lower.   The 4-hour gold chart remains in a descending […]

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AFTERNOON UPDATE

Mon, 29 Apr 2019

  Markets want to know if the Fed will cut rates in 2019. Currently, markets are pricing in about a 41% chance of at least one rate-cut in 2019. They announce Wednesday; no rate hike/cut is expected.   GDX UPDATE–>  Gold and miners may get a little tricky before Wednesday’s Fed announcement. Closing below $20.20 […]

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QUICK PLATINUM UPDATE

Mon, 22 Apr 2019

  Platinum could be working on a breakout. Prices pulled back and successfully retested the $880 level. A rally above $930 would trigger a breakout above the medium-term trendline. The 200-day MA is beginning to turn up. Maintaining $880 is critical.

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MORNING UPDATE 8:55 AM

Thu, 18 Apr 2019

  I’m still not convinced gold and silver are breaking down, just yet. The 4-hour gold chart is trying to reverse near the $1275 level. An intra-day bullish engulfing candle formed after gold struck $1273. The MACD (bottom indicator) is crossing over bullishly with a mildly positive divergence.   4-HOUR GOLD CHART: To support a […]

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MORNING UPDATE

Wed, 17 Apr 2019

  Good Morning, I get the sense metals, and miners will either find support near $1275 and bounce or break directly lower within the next few days. Scenario 1) Upside target between $1360 – $1380 Scenario 2) Downside target between $1225 – $1250 I’ll update again later.

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QUICK BITCOIN UPDATE

Wed, 3 Apr 2019

  Here are my thoughts on bitcoin. Prices could rebound to the $5500-$6000 area. Overall, I think prices will grind sideways between $3000 – $6000 for several months. At some point, prices will break below $3000 and test $1000. It would take a high-volume move above $8000 to restore a bullish tone. https://cryptowat.ch/markets/bitfinex/btc/usd/1d  

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