The fund has been in a channel of lower highs and lows since MarchThe iShares MSCI Emerging Markets ETF (EEM) has been struggling on the charts in recent months. The fund has been locked in a channel of lower highs and lower lows since March, and this tidy downtrend shows no signs of slowing. Former support at the 200-day moving average has transformed into resistance in recent weeks, and earlier...Read More
Crudeoil’s Friday’s huge daily decline was not followed by yet another daily slide,but by a profound reversal. The price has surely turned by 180 degrees, but canwe say the same thing about the outlook for the following days?No.The volume doesn’t support this outcome and as you’ve seen in the previousseveral days, indications and confirmations from volume are very important...Read More
One name is bucking today's bearish trading biasAmazon.com, Inc. (NASDAQ:AMZN) said it's teamed up with Marriott International (MAR), and will outfit several of the latter's hotels with Alexa-controlled Echo devices. While Alexa for Hospitality will boost a hotel guest's access to amenities, such as ordering room service or contacting housekeeping, it will also increase exposure to AMZN's Echo.At...Read More
Why gold is not commodity?If gold is not commodity, what about supply and demand?Do mining costs set a floor under gold price?We know this... we really know it. This is awkward. Gold is a metal. This is why it used to be money for thousands of years: it was rare, tangible and its supply couldn't be increased at will. An ideal store of value. So why are we saying that gold is not commodity? We mean...Read More
Chip stocks are dropping on growing fears of a trade warFutures on the Dow Jones Industrial Average (DJI) are signaling a roughly 350-point slide, after President Donald Trump continued to escalate trade war tensions with China, offering up yet another threat. Specifically, Trump threatened to implement a 10% tariff on $200 billion worth of China-made goods.Against this backdrop, futures on the Na...Read More
Australian iron ore producer Hancock Prospecting has made an all-cash bid to acquire Atlas Iron, the latter said on Monday June 18. "The Redstone offer represents a 41% premium to the implied value of [Mineral Resources Limited's] proposal as at close of trading on 15 June 2018," Atlas Iron said. Redstone Corp is a wholly owned subsidiary of Hancock Prospecting. In April this year, Mineral Resourc...Read More
Verizon has been a long-term underperformer on the chartsShares of Verizon Communications Inc. (NYSE:VZ) are up 0.4% at $47.65 in early trading, after receiving an upgrade to "buy" from "hold" at Deutsche Bank, which maintained its $56 price target. The firm expects revenue growth to normalize in the second quarter amid more stable pricing conditions in the industry. The analyst also sees a posi...Read More
As we all know a picture says 1000 words, which is one of the reasons why I gravitated to trading using technical analysis. I can look at a chart and in seconds understand what price has done and is likely to do in the near future, without knowing a single thing about the company, index, or commodity. Why spend time reading news, financial statements, and other opinions when you can fast-trac...Read More
This marks the first analyst in coverage on RKDA stockAgricultural biotech Arcadia Biosciences Inc (NASDAQ:RKDA) is again making a big move on the charts, after receiving its first analyst recommendation since going public roughly three years ago. H.C. Wainwright initiated coverage on RKDA stock with a "buy" rating and a stunning $20 price target, meaning it expects the shares to more than double...Read More
Trade tensions pressured ASHR below a major moving averageAlong with the U.S.-North Korea summit and the Fed's latest policy announcement, one of the top stories in the market last week was China -- namely, the Friday imposition of 25% tariffs on certain Chinese goods by the Trump administration, which Beijing promised to match in a retaliatory move. While the impact of escalating trade tensions w...Read More
Chinese ferrous futures all declined during morning trading on Tuesday June 19 amid threats of a fresh round of tariffs by the United States on Chinese imports.Futures closing prices - morning sessionShanghai Futures Exchange October rebar: 3,781 yuan ($587) per tonne, down 84 yuan per tonneOctober hot-rolled coil: 3,859 yuan per tonne, down 74 yuan per tonne Dalian Commodity Exchange September ir...Read More
Peter KrauthThe patience of gold bugs is being tested – and I mean severely tested.You have to be a true yellow-metal diehard to put up with this kind of abuse.Yet they say good things come to those who wait.Well, gold seems to have gone nowhere since 2013. In fact, the precious metal rose to $1,900 in 2011, then corrected to $1,200.In late 2015, however, it bottomed at $1,050 and has been c...Read More
Switzerland-based miner-trader Glencore has settled a dispute over its Kamoto Copper Co (KCC) operation in the Democratic Republic of Congo (DRC). Now it's being singled out as a beacon of commitment to efforts by state-run mining company G?(C)camines to restructure its mining sector. Switzerland-based miner-trader Glencore has settled a dispute over its Kamoto Copper Co (KCC) operation in the Dem...Read More
A summary of base metals premiums from across the globe for the week to Tuesday June 19. Please click...Read More
Base metals on the London Metal Exchange ended trading broadly lower on Tuesday June 19, lead by a 2.2% drop in aluminium prices while nickel and zinc's three-month prices dipped 2.1%. Pressured by a surging US dollar index, which reached a fresh 2018 high of 95.30, the base metals complex traded lower throughout the day.Aluminium's three-month price recorded the largest drop of the day, shedding...Read More
Norway has joined a growing list of countries requesting dispute consultations with the United States at the World Trade Organization, regarding US duties on certain imported steel and aluminium products, the WTO said on Tuesday June 19."Norway claims the US duties of 25% and 10% on imports of steel and aluminium products, respectively, are inconsistent with provisions of the WTO's General Agreeme...Read More
CloseGain/LossGold $1275.50-$2.90Silver$16.30-$0.14XAU81.67-0.86%HUI176.86-0.55%GDM616.26-0.70%JSE Gold1071.97+7.06USD95.04+0.25Euro115.84-0.37Yen91.07+0.50Oil$65.07-$0.7810-Year2.890%-0.030T-Bond145.125+0.71875Dow24700.21-1.15%Nasdaq7725.59-0.28%S&P2762.57-0.40% The Metals: Gold gained $5.60 to $1284.00 in Asia before it fell back to $1270.60 in London, but it then bounc...Read More
Graceland Updates By Stewart Thomson 1. The dollar and the US stock market may be starting their next major legs down today. Please click here now. Double-click to enlarge this ominous US dollar versus Japanese yen chart.2. Central banks around the world are ramping up their tightening. Back in 2013-2014 when I predicted quantitative tightening and relentless rate hikes were immin...Read More
Source: Streetwise Reports 06/19/2018 Technical analyst Jack Chan charts the latest moves and an 'agonizingly long consolidation' in the gold and silver markets. --> Our proprietary cycle indicator is up. The gold sector is on a long-term buy signal. Long-term signals can last for months and years and are more suitable for investors holding for long term. The gold sector is on a short-term...Read More
By Nicholas LePan, GoldSeek.com Abraplata Resource Corp. (TSX-V: ABRA) acquired the Diabillos silver-gold project in Salta province, Argentina from SSR Mining (TSX: SSRM) at the bottom of the mining cycle in 2016. The project includes the Oculto Deposit which is one of nine mineral occurrences located on the Diablillos Property. The Diablillos project already has a substantial mineral resour...Read More