Research

Crude Oil
18
Jul

$CL Crude Oil Looking to Test Key 54.50 Level

For nine months, oil has formed a series of two lower highs and one higher low, coiling into the tip of a large symmetrical triangle. I am paying closing attention to the 54.50 level, where it looks to test rising trend line support and an area with significant market memory.
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Gold Silver Ratio
17
Jul

Gold/Silver Ratio Signaling Key Reversal?

As we have discussed at length in previous posts, the story this summer has been gold breaking out of a six-year base at $1365 and finally showing signs of strength after may false starts. What has made many gold bulls lingering skeptics has been the performance of silver, which is a smaller market with higher...
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05
Jul

$DXY US Dollar Pushes Back Into Wedge; Metals Sell Off

The robust jobs report (224,000 new jobs vs. 160,000 projected) immediately changed the narrative of forthcoming Fed rate cuts, which had been the wind beneath the sales of the recent bull action in gold and bonds, and the weight pushing the dollar lower.
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28
Jun

$PAAS Pan American Silver Looking to Break Through

One of the disappointments in silver's recent move higher has been the lack of follow through from mining stocks, with Pan American Silver being a premier example. This past week has seen Pan American attempting to close that gap.
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26
Jun

Bitcoin Going Parabolic Once Again?

As of the writing of this post, bitcoin is now at $13,750. I see no technical areas of resistance anywhere on the chart at this point. This is now a parabolic advance with a high rate of change on the Y axis (price) over a small window of time on the X axis.
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20
Jun

Gold Breaks Through After 6 Years; Silver, Miners Confirming

The long suffering (and diminishing) army of gold bugs, distraught over gold's underperformance in the wake of asset inflation, government spending, and historically low (sometimes negative) interest rates over the last seven years, received a resounding message of hope yesterday when gold broke through long term resistance to top tick at 1397.70.
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Gold Daily
14
Jun

Gold to New Highs; Honoring Key Resistance Levels

The long term daily chart above highlights two potential falling (slightly) resistance lines from the peaks of the last six years. These lines are represented in black and red. Of particular note is how gold has reacted to these lines in the last few weeks - honoring both to the tick. This trading action is...
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Silver
11
Jun

An Update on Metals

Here is a quick snapshot of the metals sector. The silver chart above is constructive, as silver broke out of a falling wedge and confirmed the bullish action in gold. It also successfully hit its initial target of $15.15-$15.20.
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Oil Chart
04
Jun

$CL Has Crude Oil Put in a Near Term Low?

The oil price has been in a precipitous decline since falling from $66+ in April to a recent low this morning of $52.22, from where it has since rallied strongly. If this low holds, it will form the channel depicted above. This area seems like a nice risk-reward setup for a possible move back to...
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USD Breakdown
03
Jun

Dollar Breaking Down from Rising Wedge

The bond market has been on fire of late with two rate cuts now being priced into the market in 2019. While equities and energy have reacted harshly on expectations of slowing growth, the US dollar and gold, in particular, have been surprisingly mired in a low volatility coil.
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