Preciousmetals
XAUUSD 1H - LevelsQuick end of day update from KOG.
If you look on the 1H chart you can see the triangle formed and we're wedging towards the end, however, there is also a H&S in play with the neckline acting as support. All MA's on the hourly have converged ready for a breakout, so we have two patterns, one saying sell, one suggesting long!
We have an Excalibur target above here which is around 1960 which also falls in-line with what the triangle is suggesting if it breaks to the upside! This H&S is concerning though, if the neckline breaks to the downside and we see it act as resistance this can drop down towards that lower support to fill the void! With Quad Witching today this is going to be a very difficult trade to get into unless you have a huge SL! We're drawing towards the end of the day and week so will just stay out of this now, we don't want to be stuck in any trades over the weekend with everything else that is going on in the markets.
Support: 1931 / 1920 / 1910 / 1895
Resistance: 1940 / 1944 / 1955 / 1963
We'll be back on Sunday with the KOG Report.
As always, trade safe. Wishing you all a great weekend.
KOG
P.S please do hit the like button, leave a comment and give us a follow.
Vox Royalty - Genesis Minerals LtdKookynie (Pre-Feasibility) - Exceptional Drilling Results at Puzzle North Discovery
Vox holds a A$1/t production royalty on part of the Kookynie gold project(2);
On February 3, 2022, Genesis announced:
Outstanding new results from reverse circulation ("RC") drilling across multiple areas, confirming potential to expand the mineral resource at the Ulysses Gold Project near Leonora in Western Australia;
Broad, high-grade zones of gold mineralisation intersected from shallow depths in RC drilling at the Puzzle North Discovery, including:
21USRC1186: 27m @ 8.18g/t Au from 30m;
21USRC1190: 34m @ 13.36 Au from 42m, including 1m @ 382.6g/t Au from 68m; and
21USRC1192: 29m @ 2.91g/t Au from 52m;
Drilling at Puzzle North has now defined mineralisation over 600m of strike and up to 100m width, with the mineralisation remaining open both at depth and along strike;
Mineralisation at the southern end of the Puzzle pit extended over 200m south with results including:
21USRC1114: 11m @ 2.20g/t Au from 82m;
21USRC1119: 4m @ 9.07g/t Au from 92m;
21USRC1123: 5m @ 5.98g/t Au from 79m; and
21USRC1127: 47m @ 1.07g/t Au from 95m;
A large drilling program is currently being planned for the Puzzle North to Puzzle corridor.
Vox Management Summary: This exciting gold exploration royalty that Vox acquired for less than A$150k in 2020 is being rapidly drilled to include the royalty-linked Puzzle North discovery in an expanded feasibility study at the Ulysses gold project. The potential development timeline for this project from exploration to development continues to exceed Vox management expectations.
Gold Local Top, Looking for re-entry targets on the pullbackGold has made one hell of a run and I think the demand has been spent for the short term. I'm looking for a retrace down to the 50%-78.6% fib levels (the green box). If we get that retrace and a buy signal, I will increase my long term precious metals position to 20% of my portfolio. Right now I'm at a 10% position.
I'd expect a pullback down into the mid-March timeframe, then I'll add to my positions.
Silver double bottom nearing a confirmation breakoutXAG is looking solid. I've been accumulating the SLV ETF as well as FSM, SVM, and PASS since December. The weekly candle for December 13th was the proof in the pudding for me. Seller exhaustion on both the MACD and RSI with confirmed classic bearish divergence.
Now XAG is approaching a confirmation of that double bottom. If XAG breaks the $26 neckline to confirm the double bottom, we'll probably see a $30 price a few weeks later. The way I see it, any pullback would be a gift if you're not allocated to SLV or silver miners. If Gold continues to push precious metals higher, I think silver will outperform gold by 50-100% during the next 6-18 months. And I still think we'll see a $2,700 Gold price within 2 years (by the end of 2024). So, that could mean a $50-$100 silver target. We'll see the closer we get there.
Precious metals and miners are looking primed for a solid run the next couple years.
GOLD Bull Flag, Breakout Pull Back Set up Daily ChartStop Loss Below 1785
Partial Limit Order Profits 2261
Can take the whole position off at 2500 if we get there.
Goldman Sachs last week raised its forecast for the gold price to $2,500 over the next six months, up from $2,050 previously. Goldman said it expected to see demand for gold increase this year from ETF investors, consumers in Asia and central banks.
$PL1! Platinum Futures. Looking for a new positionWill be looking for some strength to open a long position. If expected strength does not materialise, then this trade is off. Watching.
$GLD Newgold ETF Bull flag breakNewgold target is 290, although from experience I know that precious metals rips can be vicious and overextend targets by considerable margins at times.
Wheaton Precious Metals (NYSE: $WPM) Could 👀 Multi-Year UptrendWheaton Precious Metals Corp., a mining company, primarily sells precious metals in Canada and internationally. The company sells gold, silver, palladium, and cobalt deposits. It has agreements for 24 operating mining assets and 7 development stage projects. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp. was founded in 2004 and is headquartered in Vancouver, Canada.
Bull Flag Gold Monthly ChartA very rare opportunity to take a great trade in Gold on the monthly chart.
Bull flag patterns are my favourite and usually lead to a second leg higher.
Silver Double Bottom Monthly ChartWith Gold breaking out of a monthly triangle, silver usually follows.
With a stop loss below 20, we could see a potential 3-1 return opportunity if not more.
Palladium: 1D Chart ReviewHello friends, today you can review the technical analysis idea on a 1D linear scale chart for Palladium.
The chart is self-explanatory. Palladium Price has been moving up a Rising Channel recently but the overall trend looks like a Bearish Divergence. Since the RSI was recently supported by a support line, the price has the chance to keep moving higher, however if the price breaks down from the Rising channel, it may come down to the 0.618 Fibonacci Retracement level where the measured move is as well as that area being a strong Support and Resistance zone. If price moves up from the rising channel, expect it to be met with resistance at the multi-year resistance line.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
Silvercorp Metals (NYSE: $SVM) Looking LikSilvercorp Metals Inc., together with its subsidiaries, engages in the acquisition, exploration, development, and mining of mineral properties in China and Mexico. The company primarily explores for silver, gold, lead, and zinc metals. Its flagship property is the Ying silver-lead- zinc project located in the Ying Mining District in Henan Province, China. The company was formerly known as SKN Resources Ltd. and changed its name to Silvercorp Metals Inc. in May 2005. Silvercorp Metals Inc. is headquartered in Vancouver, Canada.
Platinum: 1D Chart ReviewHello friends, today you can review the technical analysis idea on a 1D linear scale chart for Platinum.
The chart is self-explanatory. Platinum price made multiple attempts to get back above the 0.618 Fibonacci Retracement level but was rejected and now headed back down. Platinum price may be supported by the Multi-month support line. If it fails there then expect price to head to the 0.382 Fibonacci Retracement area. RSI just broke below a multi-month S/R line, which is not a good sign.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
Silver: 1D Chart ReviewHello friends, today you can review the technical analysis idea on a 1D linear scale chart for Silver.
The chart is self-explanatory. Silver price has been climbing up the local support trend line. RSI is about to reach the overbought area. Silver price has potential to drop. It may be supported by the 0.236 Fibonacci Retracement level as well as the strong support zone if price keeps falling. If Silver price moves upwards, keep an eye on the 0.50 Fibonacci Retracement level where there is strong resistance.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
GOLD: 1D Chart ReviewHello friends, today you can review the technical analysis idea on a 1D linear scale chart for Gold.
The chart is self-explanatory. Gold price may come back down to re-test the top of the Descending Broadening Wedge Pattern. If price gets rejected when coming down, expect to see the 0.382 Fibonacci Retracement level to touch which is in line with the Multi-year Support Trend Line. RSI is near overbought on the daily chart so be careful.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
One of the most beautiful charts around in my opinion. #silverI did not want to put to many unnecessary lines on this chart. It is literally not needed. What do you all think if this cup and handle play's out? When does the price break 50$? My guess is as good as yours, but if I had to I would guess we will be kissing the area by 2024. Maybe break out that year. It will be excited watching this unfold.
Vox support holds, assets will support through 2022C$3.66 is a weekly support level that has been tested and proven to be a solid base to build on. Looking left along the chart there is very little imbalance within the price action to backfill unless of course, we go lower. With their focus on acquiring third-party royalties mainly within the precious metals (80%), they are delivering growth and returns on the invested capital and have executed 25 separate transactions since 2019. Invested capital so far is C$32M and now they have around C$140M total equity value.
In 2021 they had 5 producing assets in the next year or so we should be seeing that number more than double. There are currently 17 royalties in the development stage and 33 in exploration.
SILVER UPDATE WITH EXTENED TIMELINE AND TIMEPRICESHi-Ho Silver! Away. Ride it long and hard out into the sunset on your silver horse.
$PAXG/BTC 12h (#BinanceSpot) Ascending channel on supportPaxos Gold is pulling back and retesting 100EMA where it is likely to bounce and continue bullish, let's hedge crypto!
If you know how to Margin trade, you can use up to 2x for that set-up
Current Price= 0.04565
Buy Entry= 0.04553 - 0.04381
Take Profit= 0.05023 | 0.05473 | 0.05972
Stop Loss= 0.04096
Risk/Reward= 1:1.5 | 1:2.71 | 1:4.03
Expected Profit= +12.45% | +22.52% | +33.63%
Possible Loss= -8.31%
Fib. Retracement= 0.5 | 0.883 | 1.272
Margin Leverage= 1x | 2x
Estimated Gain-time= 5 weeks
Tags: #PAXG #PAXGBTC #PaxGold #Paxos #Gold #XAU #PreciousMetal
Website: paxos.com
Contracts:
#ERC20 0x45804880de22913dafe09f4980848ece6ecbaf78
#BEP20 0x7950865a9140cb519342433146ed5b40c6f210f7
#BEP2 PAXG-9B2
Silver Back To $30 As Russia's Ukraine war begins, the precious metals Gold and Silver are seeing bullish order flow. The Gold chart is on a tear, and Silver is not so far behind. The first higher time frame (HTF) price objective on silver $30.
My first BTC price objective was met; however, I am still waiting for my remaining targets to be met.
I paper trading the BTC move from 43,542.00 and covered/exited 80% at 35,480.52. The remaining 20% is incase the market crash :) I'd like to be apart of that... I wish this was a live position but soon soon. My paper trade risk was $1300 & I covered 80% at 8,000 K +
My first Solana price target was met but I did not paper trade that as I'd prefer to stick to BTC for learning purposes when it comes to trading crypto.
