Category: Updates

  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 […]

  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 […]

  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 […]

  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. […]

  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 […]

  -GDX- We have a large up-gap and prices are extending higher. Today’s close is what matters. -GDXJ- The lower gap level in juniors is $32.95. A close below that would recommend a top and subsequent sell signal. The bull flag targets approximately $35.60. -NUGT- I got in at $21.18. Exit on a daily close […]

  Gold (April) is at fresh cycle highs, currently trading around $1335. The latter part of a cycle tends to get tricky, so caution is warranted. Gold is approaching major resistance between $1345- $1365. The current intermediate cycle bottomed last August (6-months ago). This cycle is beyond long in the tooth, and we have clear […]

  Everything seems to be trading higher this morning – Gold, Silver, US Dollar, S&P 500, and Oil…all up. Several of these are inversely correlated, so it is odd to see them trading higher together. That usually indicates a false move in one or more of the above assets. We should know which market is […]

  Metals and Miners are up today after the abysmal retail sales numbers this morning. News driven events like this typically run out of steam relatively quickly. The potential bull flags that started in late January should have broken higher by now. Consequently, I think we will see more back and forth price action with […]