Category: Gold
328 Posts
POSTED ON July 29, 2014 BY CEO Technician

The vast majority of gold miner charts share a familiar chart pattern that has been forming during the last year, the head & shoulders bottom: Click to enlarge GDX Weekly This pattern is now at a crucial inflection point which could be resolved within the next week. In addition to the bullish seasonal period we are… Continue Reading

POSTED ON July 17, 2014 BY CEO Technician

Gold has continued its trend of inflicting maximum pain upon market participants who attempt to jump aboard seemingly nascent trends in the precious metal. Just as gold futures speculators reached their largest net long position in more than a year, gold suffered a false breakout above resistance near $1330: Click to enlarge Source: Barchart.com False… Continue Reading

POSTED ON July 14, 2014 BY CEO Technician

Some market related observations: One of the key drivers of the recent bull run in equities has been corporate stock buybacks. Buybacks have drastically slowed in recent months….http://www.marketwatch.com/story/another-sign-the-bull-market-is-nearing-its-end-2014-07-09 Gold is back to a crucial area of support ($1300-$1307) after suffering a false breakout last week Portugal’s 2nd largest bank, Espirito Santa, is just the cusp of… Continue Reading

POSTED ON July 10, 2014 BY CEO Technician

After consolidating between $1310 and $1330 for the past three weeks gold has posted an impressive upside breakout this morning: Click to enlarge August Gold Futures (4-hour) August Gold Futures (15-minute) The big nut to crack still lies in the $1400 area, which represents the neckline of the large inverse head & shoulders bottom:  … Continue Reading

POSTED ON July 09, 2014 BY Dave Forest

Two potentially big stories for gold are unfolding right now. In disparate parts of the globe. First in terms of gold supply. In the world’s fifth-largest bullion producer: Peru. Reports late last week from the Peruvian government show another notable decline in monthly gold output. With production for May falling 24.6% compared to the year-ago… Continue Reading

POSTED ON July 03, 2014 BY CEO Technician

After an early swoon gold miners closed at session highs as they continue to form a formidable looking bullish flag pattern: Click to enlarge One might have thought that a blowout jobs report would have dealt a severe blow to gold and gold mining stocks. However, after an early sell-off both recovered impressively with gold… Continue Reading

POSTED ON June 25, 2014 BY CEO Technician

Some good stuff that we are reading today: NYT: Iran Secretly Sending Drones and Supplies into Iraq WSJ: U.S. Ruling Loosens Four-Decade Ban On Oil Exports Advisor Perspectives: GDP Q1 Third Estimate Plunges to -2.9% MW: This is what needs to happen for gold to rally Bloomberg: Why Is Dubai’s Stock Market Crashing?  

POSTED ON June 23, 2014 BY CEO Technician

2012 and 2013 were years that gold investors would like to forget. Yet at the same time the brutal bear market of 2012-2013 in gold mining shares has planted the seeds for the next bull run. As it stands now, 2014 is shaping up to be the year that the next cyclical bull market in… Continue Reading

POSTED ON June 20, 2014 BY CEO Technician

POSTED ON June 19, 2014 BY CEO Technician

Since our “Some Reason for Optimism in the Gold Miners” post from two weeks ago, the senior gold miners have posted nothing short of a 10% rally: Click to enlarge The most interesting aspect of the recent rally in gold stocks is the fact that the metal itself has lagged considerably behind: Given that we… Continue Reading