Category: Mining
1457 Posts
POSTED ON September 30, 2014 BY CEO Technician

While it’s big brother gold struggles to keep its head above the $1200/ounce mark, silver has cleanly snapped support and broken down to its lowest levels since Spring 2010: Click to enlarge SLV (Weekly) The breakdown from the descending triangle currently targets the $15-$15.50 area – it is important to note that, according to Bulkowski, breakdowns… Continue Reading

POSTED ON September 29, 2014 BY CEO Technician

With one day left in the month, September is shaping up to be the worst monthly performance for the senior gold miners (both the GDX and HUI are down roughly 18.5% for the month) since the dreadful month of June 2013: Click to enlarge HUI Gold Bugs Index (Monthly) The gold miners are down 5 weeks in… Continue Reading

POSTED ON September 23, 2014 BY Travis McPherson

In 2008, Venezuela’s former President Hugo Chavez nationalized mining and energy assets in a failed attempt to gain control over his struggling economy.  As a result, there are now 28 unresolved cases filed at the World Bank’s International Centre for Settlement of Investment Disputes (ICSID) by companies seeking retribution for these actions, including the energy giant Exxon… Continue Reading

POSTED ON September 19, 2014 BY CEO Technician

Past gold price bottoms have closely coincided with small speculators moving to a net short position in gold futures. As of Tuesday September 16th the small specs were still holding out with a net long position of more than 4,000 contracts and had actually increased their bullish bets in the previous week: Click to enlarge… Continue Reading

POSTED ON September 12, 2014 BY CEO Technician

This morning gold has broken key support near $1240 and hopes for a head and shoulders pattern bottom are all but dashed: Click to enlarge The white oval is the ‘last stand’ area of support I highlighted earlier in the week – gold is currently at a level of ‘oversold’ (green ovals) that has historically… Continue Reading

POSTED ON September 08, 2014 BY CEO Technician

Gold is under heavy pressure again this morning and a ‘last stand’ for gold bulls is fast approaching: Click to enlarge The gold futures chart shows a bearish engulfing candlestick forming today after last week’s breakdown from the large symmetrical triangle The $1240 level (support from early June) is now the last line of defense before… Continue Reading

POSTED ON September 05, 2014 BY Haywood Mining Team

Markets Tapped Out on Lackluster Economic Data: As Mining Sentiment Softens Mixed signals across multiple geopolitical forums, a building NATO response to the Ukraine Crisis, building ECB monetary stimulus of the Euro and tepid US economic data during the week have conspired to lead markets into the red for the week, and comes despite EU… Continue Reading

POSTED ON September 04, 2014 BY Travis McPherson

Unsurprisingly, Goldman Sachs’ head of commodities research, Jeffery Currie, told investors to short gold highlighting that the crises in Ukraine and Europe are supporting the price of gold but that the US Fed’s Policy shift would cause a sharp decline in the price of gold.  Sound familiar? Currie is calling for a +$200 per ounce price… Continue Reading

POSTED ON September 04, 2014 BY CEO Technician

The ECB openly entered the quantitative easing game (QE) this morning with a plan to purchase a “broad portfolio of transparent asset backed securities”. The chart below clearly illustrates why the ECB has finally hit the panic button with regard to QE: Click to enlarge Source: FT “Should it become necessary to further address risks of too… Continue Reading

POSTED ON September 03, 2014 BY Travis McPherson

After releasing partially completed results from their first vertically drilled hole (AR-14-30) last week, NexGen Energy (NXE:TSXV) announced the results of that completed hole this morning as well as results from two other drill holes that also intersected high-grade uranium mineralization in 50 metre step-outs on the Rook I project. Hole AR-14-30 which was drilled to test the vertical… Continue Reading