Tag: chart analysis

Is The Technical Gartley Pattern Guiding The Gold Price to $1260?

Is The Technical Gartley Pattern Guiding The Gold Price to $1260?

If we do see a bounce from the key $1260 support zone, the Gartley pattern suggests that rates could rally all the way back toward $1310, the 61.8% Fibonacci retracement of the whole ABCD pattern (not shown). Conversely, if the pattern fails and the yellow metal falls below $1250, it would indicate that the selling momentum remains strong and could open the door for a move down to the 7-month low at $1240 next.

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Gold Breaks Down Below The July Lows

| August 22, 2014 | Category: Price
Gold Breaks Down Below The July Lows

Gold breaks to two-month lows in Thursday’s trade on the first chart. We have a major horizontal support and resistance area on the gold chart shown in red. Gold pulled down to test that support level. It is also the uptrend support line. This is a very important place for gold to hold, especially with the strength of the USD.

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Gold Price Reverses Course On Geopolitical Tensions

| August 16, 2014 | Category: Price
Gold Price Reverses Course On Geopolitical Tensions

GLD broke out of the big wedge in mid June and this breakout held with the bounce off 123 in early August. The ETF broke out of the little wedge and the breakout line turns first support. At this point, I think a close below 124 would negate the little wedge breakout and increase the odds of a bigger break down.

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Silver Price In 2014 Establishing Another Megaphone Pattern

| July 28, 2014 | Category: Price
Silver Price In 2014 Establishing Another Megaphone Pattern

Silver prices have increased but in a disorderly manner. Over 40 years of silver prices can be represented by four zones of megaphone shaped price patterns. My round number target is $100 or more in 2016 – 2019. Although I hope that the powers-that-be will not choose to create hyperinflation in the US, if hyperinflation does occur, the $100 target will be easily bypassed and much higher prices will be “in play.”

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Use The Magic Of Gold/Silver Ratio To Greatly Increase Your Physical Holdings

Use The Magic Of Gold/Silver Ratio To Greatly Increase Your Physical Holdings

The magic of compound interest is well known. What is lesser known is the magic of the gold/silver ratio, not as a measure as it is mostly viewed, but as an application for increasing one’s holdings substantially, over time. What is so great here is that no magic is involved, rather simply utilizing the market to more than double your holdings.

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Gold Price In 2014 Consolidating Above Major Support Area

Gold Price In 2014 Consolidating Above Major Support Area

So far, the gold price in 2014 in the first six months has been trading in a tight range between $1190 and $1390. The yellow metal had one significant rally in February / March and one moderate rally starting in June. The price chart has a clear “line separator” in the $1270 – $1280 area which has served as major support throughout the first half of the year.

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Gold Stocks Starting To Outperform Gold

Gold Stocks Starting To Outperform Gold

Gold mining stocks are doing better than the commodity itself. Since the start of 2014, the GDX has gained 27% versus a 9% gain in bullion. The rising GDX/gold ratio has exceeded its spring high to reach the highest level in ten months. That tells us two things. First, that miners are a stronger bet than the commodity. Second, it’s a good sign for bullion itself. That’s because gold usually does better when miners are leading it higher.

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BRICS And Germany Will Pave The Way For Precious Metals

| July 19, 2014 | Category: Price
BRICS And Germany Will Pave The Way For Precious Metals

The seemingly never-ending mosaic of events have yet to coalesce into one that has a more definitive direction that will ultimately drive gold and silver higher. We are now in the second half of 2014, and our conjecture that 2014 may be a repeat of 2013 is still in play. In weekly gold, the lower of two protracted trading ranges, persists with no clear sign of a breakout. This week, we show the extent of price rally and time, viewing each swing up and down.

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Gold, Euro, And Treasuries React To Yellen

Gold, Euro, And Treasuries React To Yellen

The chart shows Spot Gold falling back to its support zone with a sharp decline the last two days. A close below 1290 would negate the June breakout.

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Gold Price Biggest Down Day of 2014

Gold Price Biggest Down Day of 2014

The price of gold went through the sharpest price decline of 2014. Although it was usual to see these corrections last year, they have been scarce in 2014. Gold futures in USD close 2.18% lower on the day while silver futures in USD decline 2.24%. The encouraging news for precious metals bulls is that gold and silver declined to the same extent. If silver would lead gold lower, it would have been a bad sign. The hourly price chart shows the waterfall decline of today. The gains built up over 3 weeks have been lost in just one day.

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Trend Change Developing In Gold And Silver Prices, Just Not Confirmed

| July 12, 2014 | Category: Price
Trend Change Developing In Gold And Silver Prices, Just Not Confirmed

Charts contain the resulting input from all the decision-makers, from the most informed to the least informed, and the aggregate information that can be gleaned from news, regardless of source, found in the charts. There has been a smart rally over the past two months, but far from the strongest and the most dollar gain. It is still occurring within the confines of a protracted trading range. The June and December 2013 respective rallies gained much more, and the current rally may as well, but we can always only deal with what is known and not what may or may not come to pass.

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Gold And Silver Price Hugely Diverting From Commodities

Gold And Silver Price Hugely Diverting From Commodities

The good news for the precious metals bulls is that the metals are not following commodities as of late. The chart shows the extremely strong positive correlation between the metals vs a commodities index. That correlation is clearly broken since mid June of this year.

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For Now, Gold And Silver Charts Proving More Reliable Than Fundamentals

| July 5, 2014 | Category: Price
For Now, Gold And Silver Charts Proving More Reliable Than Fundamentals

Pick your poison for knowing what news is impacting gold and silver these days. Both have been in year-long TRs, [Trading Range], within a broader down trend context. That may be in the process of changing, but change takes time. From our limited point of view, the list of events that are impacting the suppression of gold and silver all revolve around the NWO destruction of the petrodollar, that fiat Federal Reserve Note, commonly called the “dollar,” and soon to lose its status as the world’s reserve currency.

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Gold And Silver Prices Don’t Show A Defined Bottom

| June 28, 2014 | Category: Price
Gold And Silver Prices Don’t Show A Defined Bottom

The month of June ended well, [Monday’s activity not yet occurred], but there is no defined indication of ongoing strength. The close did not close above April’s small range high. One would not think it a big deal, but that small range was a failure of the buyers to maintain a rally, and an inability to rise above that mark, given a second opportunity, is not the best showing for buyer’s ability to prove their worth.

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