gold_gary

gold_gary

Technicals for gold are suggesting a potential breakout of current bull flag pattern. A breakout above the upper trend line and a MACD above 0 would likely confirm. Still a decent chance of testing support 1800 within a few days/weeks. But RSI, MACD, test of 100 day MA, and cycles are looking bullish.

gold_gary

Gold is difficult to forecast now, it is at a pivotal point where indicators suggest it could breakdown or breakup. I think it will breakup soon due to fundamental reasons and patterns in the stoch RSI and MACD. By looking at numerous cycles and past price action, I would expect new highs by mid-Sept. I think we have strong support around 1890-1900, I can see...

gold_gary

Silver is looking poised for a move upwards by the end of this week or early next week. It experienced a significant selloff a few days ago which is normal and needed to sustain such a dramatic bull market. More corrections will come and we may see future prices below current prices, but the short term trend looks bullish.

gold_gary

Gold is difficult to figure out at the moment. A number of factors contributed to its accelerated rise above $2000 where it reached overbought levels. Simple triggers, mainly a rise in interest rates, sparked a sharp selloff. Notwithstanding, there is the possibility of actors working to escalate downward price movements. The decline was sharp and deep, nearly...

gold_gary

Gold has made an interesting move here by breaking up following a rising wedge. I think it's likely that we get a retest of the upper line, and I can't say what we'll see in between, but given the fundamentals I think we get to $2200 by September. The main reasons why I see this: momentum is strong, there is a lot of bearishness in the market (everyone is...

gold_gary

FNV is a leveraged play on gold, although much of their revenues come from other materials. During this bull cycle, the run up from March-June produced a ~19% rise in gold and a ~58% rise in FNV. After a consolidation, a similar run in July produced ~20% rise in gold and ~34% rise in FNV. We are now in a consolidation. I believe this underperformance is primarily...

gold_gary

Money printing. Enough said.

gold_gary

Silver will continue upward momentum based on gold price activity, inflation expections, and monetary policy. $26 by end of the week likely.

gold_gary

The fundamentals for silver are extremely bullish. Silver was >$40 when gold was $1,900 the last time. I expect $1,900 gold by September. Silver has no business at $20 with gold at these prices. I expect a gold:silver ratio of 1:80 by September 1 which puts silver at $24.

gold_gary

Gold behavior is strongly influenced by fundamentals at this time, often in the face of technical analysis. That said, there are several support levels in the 1,600-1,700 range that could easily be tested. However, the unprecedented fiscal and monetary policy actions will only increase in scope between now and election day and I expect a gold price above $2,000 by...

gold_gary

Rising wedge of gold to break to the downside. 1700 to 1720 downside target. Will be a buying opportunity there.

gold_gary

ABC wave complete, channel to continue thru August. SPX 3500 next target.

gold_gary

Gold is coiling in a bullish pennant. To breakout any hour now to the upside, 1780 target.

gold_gary

MACD indicator is bullish and recently positive. RSI has room to go. There's a recent gap that will likely be filled, then its higher from there.

gold_gary

Time to buy WPM at current price and below. Average into positions in case of short term weakness. MACD indicators are very bullish and trends in metal prices are very favorable and expect them to continue after short term consolidations through the summer. RSI is mostly neutral but plenty of upside left.

gold_gary

Critical juncture for the SPX. A move down from here could be the start of a major breakdown. My prediction: fed put keeps momentum positive for the time being. Top of range by end of summer.

gold_gary

Gold should correct to the strong support line near backtest of upper bound expanding wedge, then rebound in similar time as other rallies during channel pattern to return to current price levels.

gold_gary

Backtest of lower trendline of rising wedge pattern. Bearish signal and downward trend to follow.