Gold has been frustrating for bulls and bears since its crash in Q2 2013. In the two years since it has traded in a wide range, frustrating traders and investors. The net result has been nothing but the passing of time. Until Gold breaks above $1300 or breaks below $1150, we will remain in waiting […]
Video market update…
From ShortSideofLong: Today’s chart of the day focuses on Silver yet again. The post that was featured on the blog during middle of the month was a good alert to participate for a short term trade in metal on the long side. Those who did that would have profited some nice and quick gains. But the situation […]
Last week we wrote that the precious metals complex had not broken out yet and had more work to do before it could attempt a true breakout. The metals had some more upside and so did the shares. However, the poor performance of the shares this past week could warn of a larger reversal. […]
There is no excerpt because this is a protected post.
Today’s chart of the day focuses on the global stock market conditions…
There is some talk among traders about precious metals breaking out. Silver broke a trendline dating back to summer 2011 and will make its highest weekly close in more than three months. Gold will make its highest weekly close in three months and gold miners had a very strong week. However, do these moves really […]
Balmoral reports results of its winter program….
Forget the 200-day moving average. While it is important, clearly the 400-day moving average has been a much better indicator for the gold miners. GDX closed at $20.78. The 400-dma is at $22.43. If GDX can test it, it would mark the third test in the past 10 months. That tells me a transition from […]
Is this the final bottom or just another short squeeze before another leg down?…