Bull-ION

Bull-ION Updated 

XAU appears to be breaking out of its flag. This is supported by GDX which has already broken out of its flag and has bounced off it (resistance now support). DXY's weakness continues. XAG is also breaking out of its penant (as per my previous posts). On the technical's, if conservative will want to see XAU closing above 1800, from an aggressive stance can go...

Bull-ION Updated 

This updates a previous chart on DXY showing the rise to the channel. DXY has been rejected by the channel and MAY be in the process of a Wave III down - there is now a reasonable probability of DXY heading to 80/81. This will be very bullish on commodities generally and XAUUSD and XAGUSD. The precious metals charts are showing a potential breakout from down...

Bull-ION Updated 

SIL/QQQ is poised for a big move - the question is whether up or down.. Patience will be rewarded as will be firm action on a breakout. We are at a major inflection point as per other posts - it can go either way - but when it goes it will be a good trade. I am betting on a positive outcome BUT - Hope for the best and prepare for the worst!

Bull-ION

This is a very important chart - the short term action can be seen in the broader light of a major bottoming process in XAU v-non precious metals stocks. Combine this with huge Cup and Handle formations on both XAU and XAG, and the tea leaves are telling us that there is a new player emerging in town, and the old ways are over. The charts say sell your...

Bull-ION Updated 

GDX is attempting to break north of the channel/flag today. We need to see if it holds in the next couple of days - if it does will likely add to existing precious metals/pm stocks/long positions. Large caps will lead small caps so GDXJ will be the place to be.. This has the potential to be the beginning of a large move higher..

Bull-ION Updated 

XAU and XAG are up against key resistance points. The line in the sand is clear. Encouraging signs from GDX and DXY with the large cap PM stocks having broken north of the flag and the dollar rejected from the channel (see previous posts). We now need to be careful and await XAU and XAG to close and hold north of the clear resistance levels -we should then see the...

Bull-ION Updated 

XAG and XAU price action is good - PM stocks are looking good. Tactical longs are in with tight stops on XAG. Positions should be added on consolidations above resistance levels. Close look at XAU and GDXJ/GDX and XAUXAG to look for confirmation across the board. GDXJ looks promising but positions should not be too big at the moment - patience is required to show...

Bull-ION Updated 

NEM is close to breaking through a bullish flag. We need a couple more days to confirm. Large caps will lead the smaller caps so all eyes on NEM and ABX. GDXJ is in a bullish flag as well - but has more work to do, hints will come from NEM/ABX. All adding to the positive technicals for XAU, XAG and the PM stocks. Cautiously bullish at this stage.

Bull-ION

Precious metals had a good week last week, and the end of the corrective period from August 2020 MAY be coming to an end. As per previous posts - closer in look - double bottom - we have re-entered the wedge - momentum is good and we are coming out of the top of the bullish wedge already. Ideally we should allow a couple more trading days to make sure this...

Bull-ION

Precious metals had a good week last week, and the end of the corrective period from August 2020 MAY be coming to an end. As per previous posts - closer in look - double bottom - we have re-entered the wedge - momentum is good and we are coming out of the top of the bullish wedge already. Ideally we should allow a couple more trading days to make sure this...

Bull-ION

Very interesting day today - chart shows a double bottom - the second of two throw overs re-entering the wedge quickly - lets see if we can hold the wedge today and stay for a few days - the technicals are indicating there is a good chance we are at a turning point. Proof will be in breaking north of the wedge, which looks like an increasingly likely possibility....

Bull-ION Updated 

Silver is breaking down - typically leads XAU - putting hedges/shorts in today with tight stops. The equity markets look as though they are topping - these could drag everything down, particularly if there is a large move - risk should be off.

Bull-ION Updated 

Looking at charts of DXY, Precious Metals and Treasuries we are at a major inflection point. DXY shows a clear channel which was broken - we are now back at the channel which should become resistance. We should therefore see DXY rolling over now if we are to remain bullish of PMs. My inclination is to remain bullish PM, which means bearish DXY and bullish...

Bull-ION Updated 

XAU remains in a downtrend, but within a bullish flag - so the downtrend continues to appear corrective. It bounced on queue and has moved back into a shorter term bullish wedge. The next couple of days will be important to see if it can remain within the wedge and then move higher - if it does we should see a move to the top of the flag. We are therefore not out...

Bull-ION

Clearly defining parameters. Strategic longs should be holding and adding tactical longs on break north. New entrants should be patient and wait for break north. Downside is potential equity sell off, with a clear support line which shows the level through which sales/hedges should be put into place.