rjchilia123

rjchilia123

Head and shoulders pattern has been confirmed if we turn south from neckline which I expect to see a pullback to at least the 61.8. If we fail to break above the neckline it will be a good shorting opportunity.

rjchilia123 Updated 

from 2000-2012 we had a weak dollar in terms of other fiat currencies and foreign stocks outperformed 2000-2012. Since 2012 we have had a strong dollar in terms of other fiat currencies and US stocks have outperformed foreign stocks. I think that 2020-2030 the dollar will be weak so foreign stocks will benefit. In addition foreign stocks are trading at lower...

rjchilia123

Sell signals on charts. Likely move down to around $3,000 or lower. Bitcoin is in a long term bear market. I have covered this before but bitcoin is at best another fiat currency just like the dollar, yen, Swiss frank, euro etc. So anyone buying it as a store of value long term (thinking it will protect them from inflation) is gonna lose. Bitcoin was designed by...

rjchilia123

I would like to see a nice selloff the weekly charts, it would be bullish. The fundamental case for Gold, Silver, other commodities almost couldn't be better. The fed said they were going to normalize interest rates and shrink their balance sheet, neither happened. We got qe infinity = Gold/inflation infinity. After Trump unfortunately there is a high probability...

rjchilia123 Updated 

I'm sorry about the late update, I like to get these out before the open on Monday. Technicals: I would like to see a breakdown below the uptrendline and the old neckline, close below 2905. We have sell signals on weekly charts. On the short term charts specifically 4 hr we have bullish divergences which could provide an objective shorting opportunity. Plenty of...

rjchilia123

We lost the 10 year breakout we could gain it back but I want it above .72 to buy this market, we finally got a much needed pullback but that 10 year could be a problem. Updates coming soon

rjchilia123 Updated 

Bulls- need silver to rally at the uptrendline from the hourly bull flag, form hourly higher low above 17.57, and a higher high above 18.25. Bears- are looking for a head and shoulders pattern, if it does form we are working on the left shoulder right now we need a breakdown and a successful back test. Gold has still technically made a lower high just barely so...

rjchilia123

Don't take any trades until Powell is done talking. On Gold we are still testing the neckline keep in mind we have bearish divergences from 1hr to 4hr charts. Overbought on 1hr charts so it is likely technically to make a lower low below 1669. We also have strong bearish divergences on the weekly, so a weekly downtrend is healthy. With that being said Silver...

rjchilia123

Might want to buy jdst if we reject from neckline I laid a trade here. The levels aren’t congruent on jdst because it’s leveraged but I would use gdxj levels and price action but buy jdst, dgld, dslv, dust.

rjchilia123

We a big move down in the gold/silver ratio my guess is that we will see silver sell off a bit faster than gold. Longer term Silver should outperform Gold.

rjchilia123

We going back up to test the breakdown uptrendline, if it holds this is an objective shorting opportunity.

rjchilia123 Updated 

Technicals: Based on daily rsi it is likely we will get a pullback but remember bulls have plenty of room to make a higher low. I drew the percentages on the chart they have 8.12% to the trendline and 9.5% until the last higher low at 2905. So anything above 2905 is a higher low. 8% should be plenty room to clear the overbought conditions on the daily charts and...

rjchilia123

expected downside for Silver

rjchilia123

I will say we are overbought approaching major resistance so you can expect a pullback soon on the daily charts but the weekly charts still look very bullish. We have 10 year breakout too 0.76 massively stock market positive, oil moving up, and the hedge funds are likely to start buying back in here. We will see what happens at this fibonacci resistance. I don't...

rjchilia123

Gold and the gdx are looking for a lower high and have broken down. Silver (which will likely outperform Gold going forward) managed to squeeze out a higher high but is heavily overbought with bearish divergences. Yes, they are going to drop over the next couple months, but looking out 2-4 years my targets remain gdx $100+, Silver $100+, and $5,000+ Gold. The...

rjchilia123

Technicals: We are looking for a higher low above 2905, it will likely be at the trend line so about 2970 should be an objective buying opportunity. After we form the higher low, we will be searching for a higher high above 3066, it will likely be at 78.6 fibonacci retracement near 3136. It is too early to say conclusively where the market will go after 3136....

rjchilia123

As of right now this looks like a normal pullback on the road to higher highs the market could pullback as far as 2910 and we would still be looking for a higher low. My target remains 78.6 fib retracement (3125) from the weekly update. We will see where stocks decide to go from there. If you aren't involved like me this could be an opportunity to get long. If it...

rjchilia123

We are finally getting a top on gdx, lines up with Gold top. As I have stated before this is a raging bull market this weakness will be a buying opportunity. My GDX target is $100 within 2-3 years but in the short term looking for a higher low above 19.64