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by GoldCore Today’s AM fix was USD 1,568.50, EUR 1,189.34 and GBP 1,030.96 per ounce. Silver is trading at $28.73/oz, €21.87/oz and £18.91/oz. Platinum is trading at $1,608.50/oz, palladium at $716.00/oz and rhodium at $1,200/oz. Gold fell $40.30 or 2.51% yesterday in New York and closed at $1,564.30/oz. Silver slipped to a low of $28.28 and finished with a loss of [...] From Andrew Thrasher: It appears gold is finally breaking out of its pennant pattern on what seems to be fairly strong volume. With the price of gold closing yesterday above falling resistance, we also see it has hit the resistance on RSI and every so slightly broke past the top trendline of the channel I’ve drawn on the On Balance Volume. From here, we will be watching if original resistance trendline [...] From Market Anthropology: With consideration of another round of quantitative easing front and center on many traders minds, could the gold miners be a leading indicator for the equity markets? The SPX and its respective RSI have been shifted on the chart below to… Read full article (with charts)… From All Star Charts: I don’t think that watching just the S&P 500 and/or Dow Jones Industrial Average is enough to really understand how the “market” is behaving. What are some of the key components doing compared to one another? How are certain risk assets behaving relative to some more conservative investment vehicles? These are questions that we ask ourselves every day. On Friday, we discussed several intermarket relationships that tell an [...] Charleston Voice The Stop-and-Reverse (SAR) dots and other lower indicators on all shorter term silver charts, ie, 5min, 10min,1hr, 4hr, 8hr…are now Bullish. We await for the SAR on the Daily chart to “reverse” and appear below silver’s price early next week, hopefully Monday. The MACD, Full Stochastics, and RSI are all trending up. Barring any ‘attacks’ we should ascend to test the $37 resistance line established on Feb. [...] A couple of weeks ago, we compared the Bull market of Silver to the Nasdaq Bubble… We wrote that Silver could go as high as $38, but that that might be an inflection point. Below, you can see an updated version of the chart we posted a couple of weeks ago: Chart courtesy Prorealtime.com Sentiment is also getting (too?) bullish, as [...] From All Star Charts: By now, I think everyone has had the opportunity to see that U.S. stocks are outperforming emerging market stocks. This has been going on since early in the fall of 2010. It’s not a secret. But the action in the $EEM:SPY ratio over the last couple of months tells me that something could be changing. I am not an “oscillator junkie” by any means. In other words, I [...] I guess a lot of people wet their pants last night, as gold was down over 4% at some point. The chart incurred technical damage over the short term, and if current support fails to hold, gold could be headed for about $1,440 (or the equivalent of $140 GLD), as we will discuss later on. Let’s first have a look at an article I wrote in August 2011 when I wrote: [...] Weekend Report: Implications Of A Market Crash For Precious Metals When I was looking at some long term charts, I found out that the current situation for the SP500 is very similar to the situation in 2008. Check out the following chart below, and you will see why… Last week, we wrote that gold and gold stocks could be at – or very close to – a bottom. So far so good, as the miners rallied out of oversold conditions. Gold found support at the 35 weeks Exponential Moving Average, and RSI held above 50. That’s a good sign so far: Chart courtesy stockcharts.com Sentiment in Gold is back at very low levels, which should be bullish for Gold [...] Earlier today, the markets tanked on Europe concerns. Gold & Gold Stocks were not spared. While everybody is in panic mode, it’s time to look at some interesting charts. Let’s start of with the HUI index: The GDX (Market Vectors Gold Miners ETF) is showing a similar picture: Although GDXJ [...] After gold and silver got hit hard last week, some of you probably wonder if that was the end of the 10 year+ bull market for precious metals. Gold hit the red resistance line, which [...] Let’s start with an update of an article I wrote on July 20th 2011. If the pattern isn’t broken soon, this could mean we are about to see 2008 all over again, and silver could drop another 50% from here: Chart courtesy Prorealtime.com The following chart is an updated version of one I also posted a while ago. It shows that when the dollar drops, commodities rally (green zones), and [...] One month ago, the SP500 was trading at 1,345 points. Today it is trading at 1,128 points, or down over 16%.
Originally published August 15th, 2011. Silver held up surprisingly well during the stockmarket collapse – you will recall that we had expected it to take more of a beating – no doubt assisted by gold’s sparkling performance, so that now, having held above strong support, and with a marked improvement in its COT structure over the past week, it is believed to be poised for a really [...] FMX | Connect Special Report: Silver
At FMX|Connect we offer little variety in the technical analysis arena. We leave that expertise to Peter Beutel of Cameron Hanover fame, one of the preeminent energy analysts of our generation and someone with whom we are proud to partner. There are however two indicators that we feel quite comfortable with. These indicators are largely based on probabilities and volatility, areas we are much [...] THE S&P FUTURE: An Ominous Top?: It’s been a bull market of incredible magnitude for several months, but now the market is showing signs of internal weakness as the RSI makes several lower highs and as the index itself seems to have stalled well below its previous top. Be careful if bullish; be very, very careful. Source by Vics The markets appear to be getting tired. The NASDAQ, the S&P 500 and the Dow Industrials are currently sitting at, or very near, their highs for year. However, many of the well-known oscillators; MACD, Slow Stochastic, RSI and the Ultimate Oscillator, are showing fairly strong NEGATIVE DIVERGENCES in each of the major indexes warning of some downward movement ahead. The darling of [...] 1)S&P and Nasdaq broke out of upper channel set in March on LOW volume (not a positive sign) 2)S&P and nasdaq shot way above their upper boilerband meaning they have risen to fast and will probably snap back to the central band within a few weeks 3)S&P has been in the upper 60s region of RSI since I think the middle of March, which, if I remember correctly, is the longest it’s [...] |
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