the weekly graph of this market shows that it will experience an upward trend in the coming weeks but at the same time the vigilance of the change in the opposite direction
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The first couple years is when in 2009-2011 precious metal mining stocks far outperformed the gold and silver underlying physical. But if you did not time the market well and exit at the top with the bearish divergences, you got wiped out as the mining stocks tend to tank 90-98% during the subsequent bear market.
I believe we are starting the precious metals bull...
- Either #gold or the #spy or both are subject to a bearish attack soon, as there is a weakening #PHLX
- there is a clear divergence in MACD
- current levels shall be watched very close ; once the prices return back from here, a sharp decline is possible to expect.
The GOLD/Oil ration reached the top of the channel exactly at the middle line of Andrews. As it appear it has been pulled back to the Andrews and does not reached Fibbo resistance level. It may happen sharply or need some time for support on May.
They literally crushed miners today. I'm not sure I've ever see a day in the mining space like I did today. This chart puts things in perspective. Gold off almost $200 from its highs. XAU has given back 60% of its move from the 2016 bottom. They were throwing them away today as the market had another screaming bear market rally. The next bull market is...
Technical breakout and retest.
My expectation for 2020 is a volatile market for both the US indices and for the gold miners. I think gold miners will actually outperform US stocks to the downside here and then will explode higher once we reach full ZIRP and QE5++. The SPX and other US indices could take a major blow in terms of gold which will drag down gold...
Big Bear Markets such as the decline into the 2016 low for the miners breed big bull markets. These unloved countercyclical investments have significant potential for long term gains.
Such a clear down trend with overhead resistance are key charts worth keeping an eye on. This week we have a clear breakout. Decent volume for gold and GDX are solid confirmations.
Today the xau gold stock index rallied to peak at a .382 of the long term decline and it also rallied in an abc form as well as having two equal legs up I am now short the gold sector in xau using dust today I was filled at 22.25 .I see the gold index declining to a new low into mid feb