Gold & Silver Build Momentum Into A New Rally PhaseAre you following my videos/research? If not, pay attention.
Gold and Silver will start to build momentum over the next few weeks - eventually moving 5 to 12% higher before mid-September.
This is a huge move for metals and will prompt Gold to attempt a rally toward $2750 while Silver attempts to rally above $32 - possibly targeting $34.
The dynamics of the global markets and the pending US POTUS elections will continue to drive global traders harder into precious metals as a hedge.
Nothing has changed.
The only thing that is new and taking place right now is the pause in metals is nearing an end point - which means we shift into bullish trending again.
Get ready - here we go (BULLISH)
GLD
H&S top in $GLD?GLD seems to be forming a head and shoulders top here with the right should shallower than the left (a very classic pattern). Should this break down here, I think we're likely setting up for a top in GLD.
The technical target for the breakdown would be the $200 level, but after looking at the chart on larger timeframes, I think this could be a more mid-term top (over the next 6-12 months).
I've marked off key levels to the downside should the pattern break down.
Junior Miners will take some time off soon I see a repeat of March 2020 happening but with birdflu (check out my silver miners AMEX:SILJ thread where the fractal looks better).
Within 5 months, miners had a 42% gain, but within that time period there were 2 huge drops and 3 huge gains:
1. $46-$20 (56% loss) in 2 weeks (June-July)
2. $20-$40 (100% gain) in 4 weeks (July-August)
3. $40-$50 (25% gain) in 4 weeks (August-September)
4. $50-$42 (15% loss) in 4 weeks (September-October)
5. $42-$65 (55% gain) in 6 weeks (October-Mid November)
We'll want to target events 1, 2 and 5. OTM puts and calls on AMEX:NUGT , AMEX:JNUG and AMEX:AGQ will be the way to go on this assuming some exogenous event doesn't take down our markets (hack, EMP etc.), and IV is affordable. 1 will be moderately expensive because of hitting the top (unless it grinds slowly sideways dragging IV down with it). 2 could be pretty expensive. 5 should be highly affordable after a slow walk up and down for 2 months.
I will also be keeping a close eye on several junior miners like NYSE:EXK and one pharmaceutical company NASDAQ:GILD (check those threads also)
Gold vs the 10yr yieldThis is a ratio chart.
Gold is on top
10 year Yield is on bottom
in the middle you can see the ratio between gold prices and the 10yr yield rising and falling.
As you can tell, when the ratio reaches a low, gold prices tend to rise and yields tend to fall.
Vice/versa when the ratio is at a high, Gold prices tend to fall, and yields tend to rise.
Of course the ratio chart is not "CAUSING" the prices to rise or fall.
In my humble opinion, we are relatively close to the long term low point on the ratio chart.
Meaning that either gold prices should rise and or yields should fall, and or both maybe...
Barrons has recently published a piece saying that rising supply of gold could contribute to prices ending the year around 2100. usd
This would be a drop in price, and doesn't fit in with my narrative.
It might be interesting to see how this ratio plays out, and perhaps it will help you form a bias for your next Gold trade!
2XBEAR JUNIOR MINERS LOOKING GOOD FROM HERE!It's time for precious metals to take a cooler.
I noticed AMEX:JDST 's options for $5 is off the chart compared to other months. I bought calls for .20 for $5 strike price in September. I anticipating these going to 2.00 by then which is 1000% return.
I also think AMEX:DUST is worthy of buying at these levels too - except they don't have miners, but I see a 500% return for this stock by the fall.
I will also link to some supportive ideas following this post.
2XBEAR MINERS LOOKING GOOD FROM HERE!It's time for precious metals to take a cooler.
I noticed JDST's options for $5 is off the chart compared to other months. I bought calls for .20 for $5 strike price in September. I anticipating these going to 2.00 by then which is 1000% return.
I also think DUST is worthy of buying at these levels too - except they don't have miners, but I see a 500% return for this stock by the fall.
I will also link to some supportive ideas following this post.
Silver is in short term consolidation before breaking $30It doesn't matter what short term paper contracts do, or taking profits - the East is importing gold and silver at a beguiling rate that won't allow for much shenanigans for the metals market. I was however surprised to see the price bounce exactly off the top of the box.
I see silver going down to $24 area, shake out some hands, and rocket up past $30 after options expiration date. I see a smaller consolidation week in May before going even higher.
I HIGHLY recommend Silver Miners right now. They saw some life this week and last - and since they usually lag, I can see them being down for the next two weeks before going up themselves. I like AMEX:SIL , AMEX:SILJ , and NUGT for indices, and NYSE:NEM for the best miner in the world for one simple reason - AMERICA will be the LAST country to nationalize their natural resources in a communistic reaction to the skyrocketing dollar. I expect that to happen starting next year.
Double Top in Gold That Strangely is Correlated with NividiaDid you know gold and Nividia have an 81% correlation? That's strange. (chart in comments)
I see a double top in gold.
TTM Squeeze firing on weekly, daily, 4 hourly and it's a continuation of a squeeze on the hourly. TTM Squeeze's usually bounce off the opposite side when it breaks/fakes out. Outside an exogenous event I see pm's taking the summer off and reawakening in the fall when the dollar tops out after the BOJ sells US treasuries after China devalues their currency after the dollar spikes when Europe cuts rates soon. It's going to be an epic chain reaction.
The FED will cut rates heading into the election and if Trump wins he'll ride the last meme wave until it crashes and reinstitute a gold standard, or if Biden wins we get CBDC's.
I'll be looking for low IV OTM calls in the fall after the FED cuts rates...
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Gold & Silver have done very well#GOLD & #SILVER have been on tear for some time.
Both showed bullish patterns & we took advantage of that.
GOLD
We've been long term holders of the shiny metal but we did take a chunk of the "paper gold" profits (stocks, contracts)
Want to step back in but RSI and $ flow have lost some steam, waiting.
Silver
Still looks pretty good.
Volume is still heavy for both = demand.
AMEX:GLD AMEX:SLV $PSLC AMEX:CEF
Here's What You Can Expect On Wall Street & In The Crypto SpaceThere are no surprises with the U.S. dollar, vix, gold, precious metals, commodities, and stocks. Everything is right on track. We are nearing our SPY blow-off top target of 570-600, but we have some time to hit that before the U.S. election charades and the future recession. We'll review these things and then focus on what price action will look like in the coming weeks for the crypto space. Plus, I have added an extra video for my members in which I'll review the current altcoin entries we are in. I'll let you know clearly what my sentiment and strategy is for trading these coins, a few of which have 3-4x targets! Quickly, I believe our local low in the altcoin space is in and we are going to pop soon. Some coins will fare much better than others. I want you in those coins. Let's go!
Possible Wave E has ended this is the ALTThe chart posted is Low odds BUT must be looked at as the wave structure and the cycle s turn may 8th is nearing .I Am net long spy msft gld dia I have changed my positions and added this morning near the low in GLD I am also looking to buy BITCOIN I have target 56200 to 55900 but we may not get to it .
XAUUSD Spot Gold sell-off may stimulate a rally LONGSpot Gold has fallen 5% since the Middle East conflicts have lessened at least transiently. Other
fundamentals like the Chinese government and indeed its citizens as well as the central
banks of several nations buying gold in high volumes support price from significantly falling from
here. Supported by volume profile specifics as well as the Fibonacci retracement levels
reversing the trend down, I see this as a buying opportunity where other dip buyers will hold
the price up and support the reversal. I firmly believe that the day will come where prices of
the present would be considered a huge bargain. At this time, they are fair value for sure.
Are Gold & Silver done?Don't think #GOLD is done by any means.
HOWEVER.......
Sold some positions around the date of bearish engulfing. As of today the precious metal is still @ that price level. We missed a lil more upside but it wasn't much oi the whole scheme of things.
#SILVER shows same exact signs except the Bearish Engulfing.
AMEX:GLD AMEX:SLV
Junior Miners will fall 10-20% before catapulting in Mid MayMiners didn't accelerate to the upside like metals because they do better in lower interest rate environments, whereas metals do better for volatility events. You could buy ITM puts here on JNUG, NUGT, GDX or GDXJ and see a good return, or just wait for this to bottom in a couple of weeks and ride the lightning. THIS opportunity is one of the 2 that I see this year where you can buy OTM calls and this will be like Gamestop imo.
THIS ISN'T FINANCIAL ADVICE!
Dollar, Stocks, Bitcoin ...And Have Altcoins Bottomed?Traders,
It looks as if the dollar, vix, and precious metals/commodities will continue to trend up, stocks will continue to pull back. Bitcoin is tenuous. But it is possible that altcoins have reached their low, though that low may be retested soon. We'll discuss these subjects in this weekly update.
Stew
Gold forms Bearish Engulfing, Silver at resistance🚨 🚨 🚨
#Gold is forming a Bearish Engulfing on the daily charts.
Volume is almost there for a confirmation of the pattern.
Money Flow is low.
Overbought.
Weekly we see Gold forming a doji = battle bulls & bears.
#Silver is at a major resistance.
This should be an interesting week...
AMEX:GLD AMEX:GDX AMEX:GDXJ AMEX:SLV