Category: Updates

MORNING UPDATE

Mon, 25 Feb 2019

  We have a divergence between gold and miners on their intraday 1-hour chart. Gold is trending slightly higher while miners are down.   GOLD 1-HOUR GDX 1-HOUR It’s unclear how this will resolve; one is likely to play catchup into the close. Meaning, gold will either begin dropping with miners or miners will reverse […]

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MORNING NOTE 9:05 AM

Mon, 25 Feb 2019

  April gold slipped back to test the 200-period MA at $1327.30 this morning before bouncing. To support another attempt at $1350 prices would have to recapture the $1340 level convincingly. Slipping below $1323 would likely trigger another wave of selling. Same with silver. Below the 200-period on the 1-hour chart would support a breakdown. […]

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AFTERNOON UPDATE 1:30 PM

Fri, 22 Feb 2019

    Gold found support and bounced off the 200-period MA on the 1-hour chart. Prices would have to retake the prior breakdown area between $1340 – $1345 to have another chance at $1350. Silver also found support at its 200-period MA. It needs a decisive move above $16.00 to make another run at $16.20+. […]

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MORNING NOTE 8:50 AM

Fri, 22 Feb 2019

  Gold (April) is holding around $1328, and silver is staging near $15.80. There is no clear direction at the moment. Gold would have to retake $1330 decisively intraday to support a rally attempt. Declining below $1320 could trigger another wave of selling. Support for silver remains around $15.70, below that and prices could tumble. […]

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NEW TRADE ALERT 3:12 PM (DUST HEDGE)

Thu, 21 Feb 2019

  I’m going to take a position in DUST here and keep my intra-day stop on NUGT as previously posted. Stop on DUST below yesterday’s $15.75 swing. I wanted to update real quick before I get on the road. The new app will be nice – I’ll be able to alert members via the push […]

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RAISE STOPS FOR USLV AND NUGT 1:55 PM

Thu, 21 Feb 2019

  INTRADAY STOPS FOR NUGT AND USLV I have a can’t miss meeting this afternoon and won’t be able to post if precious metals start slipping. I’m placing these stops just in case they break quickly lower this afternoon.   -NUGT- Afternoon stop (at market price) on NUGT to trigger below $21.72. -USLV- On USLV […]

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QUICK NOTE 12:54 PM

Thu, 21 Feb 2019

  The Noon selloff below $1330 in April gold could be one of two things. 1) It could be the beginning of a sharp selloff later this week. 2) It’s a low-volume manipulation to shake out bulls before higher prices. Today’s close and Tomorrow Morning’s price action will tell us which scenario. If prices start […]

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MINING UPDATE

Wed, 20 Feb 2019

  Several of the charts below are at critical junctures. They are all at or very near their potential breakout points. Within the next few days, I think prices will either top and turn back lower or break actively higher. These are just examples and not trade recommendations. If prices do break higher, I’ll consider […]

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TUESDAY REPORT 2/19/2019

Tue, 19 Feb 2019

  Gold is approaching the long-term breakout zone near $1380. The next few trading days are critical. If prices are going to breakout, then gold should slice through the $1360-$1380 level with ease. Failing to breakout above $1380 will set the stage for a 2 to 4-week pullback into the next 6-month cycle low. If […]

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CLOSING UPDATE 3:20 PM

Tue, 19 Feb 2019

  Unfortunately, I’ve been driving somewhat blind without the crucial COT data. The 35-day government shutdown delayed that aspect of our analysis. It would be nice to know where the commercials stand. Below is GDX as of about 3:20 PM.   -GDX- Miners are inching higher this afternoon. The last 15-30 minutes could get interesting. […]

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