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Gold & Precious Metals

Silver Market Update

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Posted by Clive Maund

on Thursday, 28 December 2017 06:30

For many weeks we have been waiting patiently, like vultures perched on the branches of trees, for the Large Specs to go belly up and croak, and the good news is that they just have, so it’s time for us to swoop down and feast on the carcasses, the carcasses being silver and the better silver stocks, which are at good prices here, and although they have already started rallying over the past week or two, the COT structure is now much healthier, suggesting that they will continue to advance. 

On the 6-month silver chart we can see the breakdown from a Symmetrical triangle that occurred late in November leading to a drop well into December, and also how silver has slowly recovered over the past 2 weeks. In itself this chart looks bearish, with a breakdown followed by a rally back up towards resistance, and moving averages in unfavorable alignment, and it is only when we consider the latest COTs and then look at long-term charts that we realize that the setup is a lot more bullish than it looks at first sight on this 6-month chart. 

silver6month251217


Next we will look at a 18-month silver chart, the main reason being so that we can compare the peaks and troughs on it directly to the 1-year COT chart placed below it. On this chart we can see that the silver price is within the confines of a large gently downsloping trading range bounded by approx. $15.25 on the downside and $18.50 on the upside. This chart makes clear why it turned up where it did a couple of weeks ago – it had arrived at a zone of support towards its July lows. 



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Gold & Precious Metals

Gold Market Update

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Posted by Clive Maund

on Wednesday, 27 December 2017 06:35

Over the short to medium-term gold is likely to be buffeted by conflicting cross currents as we will proceed to see a little later, so it is important to keep a handle on the big picture, and for this reason we will start by reminding ourselves how bullish the big picture is for gold by looking at its long-term chart. 

On its 10-year chart we see that gold is in the late stages of a large Head-and-Shoulders bottom, which it is expected to break out of not far into 2018. This is a huge base pattern that can support major bullmarket. Points worth noting on this chart are the marked volume buildup during the last half of the year and the steady rise in volume indicators this year, especially the On-balance Volume line – these developments suggest that gold is building up to something, after being a sideshow during 2017 due to rising stockmarkets and the cryptocurrency mania. The key level to note is $1400 – a breakout above this level will signify that gold is leaving behind the base pattern to enter a new bullmarket phase. 

gold10year261217


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Gold & Precious Metals

Fiat Flameout: Hi Ho Silver!

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Posted by Stewart Thomson - Graceland Updates

on Tuesday, 26 December 2017 11:15

1.    While many gold market technicians have been neutral to slightly negative about gold in the short term, I’ve been extremely positive.

2.    As of today, I’ve become outrageously more positive.  To understand why that is, please click here now. Double click to enlarge this spectacular daily gold chart.

3.    I’ll dare to suggest that gold investors have behaved very well this year.

4.    As a result of that behaviour, Santa has put a beautiful bull wedge breakout into everybody’s Christmas stocking!

5.    The near-immediate price target is $1310, but $1360 should also be hit during what looks to be a very positive Chinese New Year season.

6.    Do the festivities extend to gold stocks as well?

7.    Absolutely!  Please click here now. Double click to enlarge this GDX chart.



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Gold & Precious Metals

Buy Signal Confirmation

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Posted by Peter DeGraaf

on Friday, 22 December 2017 07:35

Another Tool in the Toolbox!

Charts are fascinating!  They reflect human action.  We look at charts for direction, for support and resistance.  Here is a chart (courtesy Stockcharts.com) that is just now in the process of showing a buy signal for gold mining stocks.

chart one

Featured is $BPGDM.  This index rises or falls according to the bullish percentage among the stocks that make up the index.  At the top we have inserted GDX, the miners ETF.  In the past, whenever $BPGDM rose up from below 25 it gave a buy signal for mining stocks.  Notice how the blue arrows point to excellent timing.  The supporting indicators at the bottom (CCI and Slow Sto) have just turned positive, to provide confirmation. 

Peter Degraaf is an investor with over 50 years of experience.  Google him or visit www.pdegraaf.com

 



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Gold & Precious Metals

COT Report: Predictably Stomach Churning but Bullish

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Posted by Michael Ballanger- Streetwise Reportsr- Streetwise Reports

on Wednesday, 20 December 2017 07:07

Precious metals expert Michael Ballanger explains why he finds gold stocks "dirt cheap."

Ballanger12-18-17-cover.png



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