WOOD, one of the Ishares ETF symbols related to the Real Estate and Construction sectors may become the next hottest instrument for skilled technical traders. Over the past three years, Wood has rallied over 110% between a $40 to $84 range and the trading volume of WOOD has been relatively consistent near an average of about 140k shares per week. Let’s dig into the opportunities...Read More
Technical analysis update forthe SPDR Gold Shares ETF (GLD).Long-term bullish continuationanticipated once current correction is completed.Looks like a deeper retracementmay come in the near-term, before resumption of the rally. Long-term breakoutFollowing the August 2018 swing low of $111.06, GLDrallied 32.2% to the September 2019 high of $146.82. That rally foundresistance in the area of Fibonac...Read More
Mike Gleason: It is my privilege now to welcomeback our good friend Greg Weldon, CEO and president of Weldon Financial. Greg hasdecades of market research and trading experience specializing in the metalsand commodity markets and even authored a book back in 2016 titled GoldTrading Boot Camp where he accurately predicted the implosion of theUS credit market and urged people to...Read More
Technical Analysis is the theory that price relates all news, fundamental and correlative future expectations into current and recent price activity. It is the theory that price is the ultimate indicator and that charts paint a very clear picture for those individuals that are capable of understanding the message that is being presented. In this research article, we are going to highli...Read More
We all know that the gold and silver Commitments of Traders are very extended and at levels of commercial net shorts and large spec net longs that tend to be in place at tops in the metals. Well, the metals topped in the summer, so what does that tell us?For one thing it tells us that bull market rules are different from bear market rules as per this post from August as gold was topping.Gold and S...Read More
By: Dave KranzlerTo the extent that some analysts reject the Fed/Wall St/Perma-Bull narrative that the Fed's repo operation is needed to address "temporary" liquidity issues or was caused by the newer regulatory constraints, the only explanation offered up is that the financial system's "plumbing" is malfunctioning. But there has to be an underlying cause......The underlying cause is abject de...Read More
- Gary Christenson, The Deviant InvestorBubbles, like a cocaine high, are fun while they last. History confirms that bubbles and cocaine are enjoyable, because central banks blow many bubbles and the U.S. imports a large quantity of cocaine.Bubbles are fun, but they extract a price. There is no free lunch.Examples:2019: The Everything Bubble.It hasn't crashed yet, but there are many bubble pi...Read More
- Jordan Roy-Byrne CMT, MFTAIf you follow our work, you are aware of our growing optimism on gold stocks in 2020.As we've written, the fundamental setup in 2020 should be bullish for precious metals.Meanwhile, the technical setup for gold stocks is one of the best we've ever seen. Gold stocks (and GDX specifically) are consolidating in a bullish fashion within a nearly 7-year long base that,...Read More
Gold's post breakout reaction back from its early September peak has evolved into a steady downtrend as we can see on its 6-month chart below. The approach of the rising 200-day moving average below suggests that this reactive downtrend will have run its course before much longer leading to a second upleg. However, gold's COTs have shown no improvement as this downtrend has unfolded, which is a...Read More
By: Ira EpsteinI am bullish gold, but don't want $1,463 taken out. We are above 18-dma, $1,499.60 resistance area:Read More
There will be short covering and subsequent buildup of long positions if gold and silver rise today and tomorrow. There was no surprises in FOMC meet. Now the focus will shift to European central bank meeting, impeachment news related to Trump and UK elections and the key trade deal. Fed Chairman Jerome Powell said the economic outlook for the U.S. was favorable as the central bank announced its...Read More
A few weeks ago we noted the bullish setup for 2020. Macro developments, one way or another will tend to favor Gold. There isn’t a realistic scenario that isn’t Gold bullish. Note the comments from various Fed-heads last week. They are laying the groundwork to target higher than 2% inflation and won’t consider raising rates anytime soon. And if they have to resume cutting rates G...Read More
You may think (or hope) that in your daily life you don’t need to worry about unknowingly eating or otherwise ingesting crude oil or any of its many, many petrochemical byproducts. But you would be wrong. And not just a little wrong--very, very wrong. Petroleum-based substances are in all kinds of innocuous-seeming things that we willingly put into our bodies. Even though petrochemicals are...Read More
Gold prices pushed sharply higher on Tuesday but have stalled ever since. Has the recovery rally completed? I think it has.Leave it to Trump to go and say something that causes the equity markets to print a two-day drop that wipes out more than a week of gains. But the tone in the markets might be changing.The US president went from saying that the trade deal might get delayed until after the elec...Read More
I can remember there were times during the PM complex bull market before 2011 that sometimes the PM metals would rally but the PM stocks were very weak. Then there were times when the PM stock would rise while the PM metals moved very little. At the time of those occurrences it was bewildering as common sense suggested they should all move together and the stronger the metals moved so should the P...Read More
The United States' flat-rolled import market is mixed, with prices for imported hot-rolled coil, cold-rolled coil and galvanized sheet inching up while those for plate are steady - although the material from abroad has failed to entice domestic buyers."Imports, just forget it. [Hot-rolled coil from Mexico] isn't attractive at all, it's pretty much the domestic price," a US steel distributor source...Read More
Through the first half of 2019, silver significantlyunderperformed gold. Put another way, gold gained relative to silver –culminating in the gold:silver ratio registering a 27-year high of 95:1. That market signal was received by the mining industry. Sincethere are few primary silver producers, and those that do mine silver alsotypically mine gold and some base metals, precious metals miners...Read More
UK suppliers of steel scrap to domestic consumers in the steel sector have gained another round of price increases for monthly settlements, sources told Fastmarkets on Thursday December 12.December contracts were up ?10 ($13) per tonne after increasing by ?15 per tonne in November, they said.The move marks a change in the downward trend of September and October when prices fell by a combined ?6...Read More
The ISM Manufacturing index fell 0.2 point to areading of 48.1 in November. However, gold struggles to find momentum. What isgoing on exactly? U.S.Manufacturing Sector Slumps FurtherThe Institute for Supply Management announced that its index of national factoryactivity dropped from 48.3 in October to 48.1 last month. The number was belowexpectations and it also remained below the 50 threshold, in...Read More
The three-month nickel price on the London Metal Exchange was higher at the close of trading on Thursday December 12, breaching nearby resistance despite its largest single inflow since 2016. Nickel's outright price on the LME closed at $14,100 per tonne this afternoon, a climb of 1.5% from Wednesday's closing price of $13,850 per tonne. Turnover in nickel was high over the day, with just over 9,4...Read More