Gold and silver look promising. Gold breaks out of a strong descending channel, trading above the 50-day EMA. Prices likely to trend to supply zone between $1,247 and $1,254. Silver looks to have found a bottom, although strong resistance near $17.78. Get my full review here: tinyurl.com
The current upwards correction in gold (see linked view below) I think can be pair-traded by buying gold and selling silver to hedge. Gold/Silver ratio is moving very nicely and impulsively up towards A=C target of 79 which implies a silver price of 15.7 vs. current gold price of 1239. Silver seems at least 10% rich now. If gold does indeed go to 900 after...
Traders, In our last technical commentary, we discussed about a completion of a Bullish Wolfe Wave acting as a springboard to a potential rally (see discussions and additioanl charts here: ). What was confounding to this potential rally was the absence of two discreet, but technically crucial events: 1 - Internal Elliott Wave count that demanded a 5th wave...
Traders, I just posted a chart illustrating the persistent increase in $XAUUSD strength relative to $XAGUSD (See original chart and analysis here: , as well as subsequent comments here: ). $XAUUSD vs. $XAGUSD: This strengthening of Gold relative to Silver might appear counter-intuitive, considering that the yellow metal has been under pressure recently,...
This is a side note continuation about "XABCD Should Extend The Trend!" subject. This is my real life experience of buying a physical gold (coins, not much quantities, it was my first time doing that). Using my technical analysis for the reason to buy. In 2013 I bough some gold almost exactly at the time this small Gartley was finished forming (little pointer...
Performance table from May 2013 - Oil, Palladium, Wall Street, Platinum, Copper, Gold, Silver in that order. Should be self-explanatory. I would be interested in any educated conclusions.
Gold, Silver, Wall Street, Oil Relative performance at 4 time frames Note the drastic difference post-2007. Also note the chaos of 2014
Traders, On a pure technical basis, a support and bullish reversal potential event has shaped up. The predictive/forecasting model overlay also points to an early bullish reversal signal pending confirmation. At this point, IF support holds at defined trendline, THEN I would expect a rallying and consolidation into the overhead forecast target: TG-1 = 21.724 -...
June 23, 2014 Gold has a change in behavior and on the frequency of its new Up Sloping Fork. Price now has to navigate the 1320.00 check point. Potential support 1312.00. Moderate advance target at 1400 area -August 6-12. Keep eye on U$D. Not a recommendation to buy or sell this commodity.......
Friends, Predictive/forecasting model is bearish on $Gold, having defined significant R/S levels as follows: 1 - Strongest resistance within the 80.94/81.63 range 2 - Moderate support with reversal potential at 74.50 3 - Strong support with break-thru risk at 74.04 Also, model defines the following conditional targets, provided breach of 74.04: 1 - TG-1 =...
This current bubble has overextended itself to ridiculous levels. This thing will come down, hard. Look for double tops and bearish chart patterns coming in the next weeks, and months. Tread carefully. To further this situation, gold and silver are sitting like a coiled spring, ready to pounce on this move. Check out my other idea here.
The correlation between SLV and BRF is more prominent that with GLD. Nonetheless the relationship between these asset classes are quite distinctive. long BRF, LBJ, ILF
Friends, As a new week opens, a bird's eye view of the Forex market might be best appreciated if taken on the back of the US Dollar Index (DXY). SOME FUNDAMENTAL POINTS AND OPINION: At this point, fundamentals are expecting to carry the greenback upwards, on the general assumption that the Fed will continue to taper. We also discussed earlier weaknesses in...