Gold & Precious Metals

Gold & Silver: Key Candlesticks In Play

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Today’s videos and charts (double click to enlarge):

Gold & Silver Bullion Video Analysis

Precious Metal ETFs Video Analysis

US Bonds, Dollar, & Global Stock Markets Video Analysis

SF60 Swing Trades Video Analysis

Thanks,

Morris

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Central Banks Buy Gold, But They Are Also Buying Mining Shares

King-World-News-Wild-Trading-In-Global-Markets-Reveals-Dangerous-Trend-864x400 c-1Obviously, the precious metals have become fixated once again with what the Fed may be about to do. How we can replay this movie over and over again is a question I cannot answer. In the investment world that I grew up in the market only tended to discount something once, or maybe twice, but not n number times, where n is some larger number.

….continue reading HERE

related:

Martin Armstrong: 

Sovereign Debt Crisis – Banking Crisis – Derivative Clearinghouse Risk

 

Sequential TD9’s in Gold Miners

Technical observations of RossClark@shaw.ca

Seven of the nine gold miners with market capitalizations over 10 billion Cad$ have generated TD Sequential 9 Sell Setups during this year’s rally. The most common reaction is a correction back to the 20-month exponential moving average. Longer-term investors should be patient.

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Barrick

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Newmont

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Franco Nevada

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iShares TSX Global Gold Index ETF (XGD.TO)

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….related from Jordan Roy-Byrne:

A Bit More Downside Potential in Gold Stocks

A Bit More Downside Potential in Gold Stocks

Last week we projected 5% to 10% downside in the gold stocks. Well, not to butter my own bread but GDX and GDXJ both lost 9% on the week. That being said, I believed that the weakness would be limited and miners could rebound to new highs in September. While that possibility remains, there is a chance this correction could go a bit deeper and perhaps last longer. 

The weekly candle charts below show that the miners are correcting after failing to break into a “thin zone” of resistance. GDX has broken below its July lows and corrected as much as 16%. It has support at $25-$26 and that includes the Brexit gap. Also, the 38% retracement of its entire rebound is just below $25. Meanwhile, GDXJ has yet to break its July low in the $43s. It has corrected as much as 17% but could end up testing $39-$41. The 38% retracement of its entire rebound is a hair below $39.

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GDXJ, GDX Weekly Candles

Whether the correction lasts longer or evolves into a long consolidation, precious metals will remain in a bull market. It is hard to argue against the chart below. We plot Gold, Silver, GDX and GDXJ along with the 400-day moving average which is an excellent indicator of the primary trend. The sector sits comfortably above the 400-day moving averages which are sloping upward for the first time in years.

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While we expected this correction, we did not anticipate there would be a chance for a larger correction. If you believe we are in a new bull market, as I do, then the path to financial success is buying and holding and buying weakness. (Our guidance for selling, we’ll get to another time). If I were holding too much cash or missed the epic rebound, I would be taking advantage of further weakness. Buying 20% to 25% weakness in a bull market (especially one that is only months old) will likely payoff in the long run.

Jordan Roy-Byrne, CMT, MFTA

Jordan@TheDailyGold.com

related:

Gold & Silver Trading Alert: Suspicious Reversal in Gold

Gold Price Correction Tactics

gold battle

Today’s videos and charts (double click to enlarge) include Gold’s Battle for $1392 and Silver Inverse Head & Shoulders Bottom Chart:

Gold & Silver Bullion Video Analysis

Precious Metal ETFs Video Analysis

SF60 Swing Trades Video Analysis

SF Trader Time Video Update

 

sil inverse

 

Thanks

Morris

website: www.superforcesignals.com

related: Gold & Silver Trading Alert: Suspicious Reversal in Gold