Sunday, October 23, 2016

An interesting week ahead of us for gold miners

This week will be an interesting week for gold miners as many of them are reporting earnings.
Current technical picture for GDX:

And don't forget gold

Wednesday, October 19, 2016

SPX: Approaching a significant time-price line

S&P500 is approaching a significant time-price line.

If it fails to bounce at that line then things are starting to get ugly for bulls.Below the red line bears can smile again. 

Tuesday, October 18, 2016

GDX : approaching resistance and is already overbought

GDX is in a correction mode since early August.Currently GDX is approaching a descending resistance trendline and is already overbought.A bounce lower is very possible.If GDX breaks above resistance then the next target is 27 at the end of the month.

Happy trading!

Thursday, October 13, 2016

Gold within 2 channels and some crucial decision price-time points...

Gold is within a broad ascending channel and a smaller (and more recent) descending channel.
Gold price currently hovers just above the lower band of the descending channel.
A possible significant decision point for gold is  ~1230 at around US general election date.
Another significant decision point  1303  at around Christmas.

Happy trading!

Thursday, October 6, 2016

Silver: Short term oversold

Silver is currently approaching a channel support while being significantly oversold.

Expect a relief bounce towards 18.5