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. […]
Continue Reading →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+. […]
Continue Reading →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. […]
Continue Reading →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 […]
Continue Reading →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 […]
Continue Reading →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 […]
Continue Reading →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 […]
Continue Reading →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 […]
Continue Reading →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. […]
Continue Reading →Precious Metal Investors (myself included) have been beaten down trying to trade these markets over the last 3-5 years. Are investors expecting a breakout? I bet there are fewer bulls now than during last April’s breakout attempt. If the masses aren’t expecting it – then, a breakout is possible. Below are key levels […]
Continue Reading →