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...Read More
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.Read More
The ratio has been in a wide ranging downtrend channel for a decade, with a countertrend move beginning in early 2016. That move broke its uptrend channel in December, pulled back to retest prior channel support, and has since broken down again on recent trading action. This breakdown is bearish for the ratio, which translates...Read More
Perhaps one of the more surprising charts of the last few years has been that of the CBOE gold volatility index. This morning gold vol fell to 8.75, almost half that of the S&P500. Much to the chagrin of precious metals dealers who make a living off of transactional activity, both the buy and sell...Read More
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