Tag Archives: metals

BATTLE STATIONS

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On silver’s 1-year chart we can see that a fine large Double Bottom is completing. We already had the breakout on good volume from the 2nd trough of this Double Bottom in the middle of February, and it was this event that has (rightly) caused traders to pile into silver, although the price hasn’t moved much – yet. The better silver stocks, on the other hand, are already on fire, because the “writing is on the wall”. Right now the price is consolidating following the breakout in a fine tight Flag formation, from which upside breakout looks imminent.

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GOLD: HOLD IT OR FOLD IT?

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It’s starting to feel like we are part of a giant poker game against the US government, whose hand is the true condition of the American economy. The government has become so good at bluffing that most people feel compelled to watch how the biggest players in the game react to determine their own investment strategy.

Read more: http://tinyurl.com/lzrvwfk

THE BOTTOMING PROCESS FOR PRECIOUS METALS

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In our last editorial we pointed out how the gold stocks had veered off the recovery course. They fell well below the recovery template and fell below their 50-day moving averages. Furthermore, the positive “non-taper” news turned out to be the mother of all bull traps for traders. The market soared on presumably an epic amount of short covering. Yet that only served to be a selling opportunity for traders. That sequence of events only strengthened our view that the sector continues to be headed for a retest which could serve as the mother of all buying opportunities.

Read more: http://tinyurl.com/o6g352w