Silver has dipped relatively more than Gold comparatively since early April with Gold holding better. This mechanism allows for Gold to make a new high in the current bull market. Silver is also set to bounce strongly, but not above the April 2011 top.
A spectacular move up for Gold would result from the large triangle breaking to the upside.
Daily Chart
I have much more detailed charts coming soon for both Gold and Silver. Both look really attractive here.
ReplyDeleteHi SC,
ReplyDeleteThank for your works.
For newbies could you say when and what price level you would buy Gold and silver?
Appreciated, thanks.
RB
Gold is trading very close to the white trendline today. I like both Gold and Silver right now at this price. Not for a day trade but rather for a major move higher.
ReplyDeleteSC Nice view of big gold triangle. My shorter term cycles
ReplyDeletehad today through Friday as a low. I can't see it going to
new highs,but every big move starts with a short term move and
I like gold here for a move up into June. Great call btw, on the waterfall plunge.
Hi SC
ReplyDeleteDo you still see this your cycle work forecast of UVXY heading to 10$ ish on the 14th? it been going up lately and currently near 16$, hard to see it drop down to 10$ with ton of support above 10$?
Thanks!
Strong reversal for Gold miners this morning.
ReplyDeleteSC,
ReplyDeleteMany people says gold is plunging to 1510-1520$ due to 1630 level broke down and 26-27 for Silver.
What do you say for this?
Thanks.
RB
I bought a bunch of XIV. The bears are running out of time imo. My cycle analysis is starting to turn positive, and next week looks strong. NDX is starting to look stronger relative to SPX also so the evidence is stacking up.
ReplyDeleteSC, I am with you on XIV, approx. sell date on it guessing at May 25.
ReplyDeleteOn another note, does anyone here have a way around the three day settlement routine in trading. It would be a lot handier if I could flip some of these shares on occasion without having to wait 3 days for settlement to buy more. I doubt the High Frequency Trading robots have the same hindrance on this we do.
Hi SC
ReplyDeletenot sure how you seeing positive, but the current emini is like around 1348 ish in AH, and looks like big resistance around 1360. Is there a level that you looking at that can break your cycle work, and we head lower instead of the bounce you looking for which will push UVXY down to high $9 or low $10? Like if we dont break 1360 soon for example.
Thanks!
Hey Traders, while scanning the net I found some helpful stock trading tutorials. There are articles as well as videos on key technical analysis indicators that I found really helpful and should assist you in maximizing your potential profits and minimizing your risks.
ReplyDeleteYou can find additional tutorials in the technical analysis school menu, these are 100% free to the community and I am sure they would love it if you left a comment when you stop by!
http://stocklegends.com/technical-trading/
Most importantly we've passed the last of the negative cycles today, and the positives are increasing. Next week is surprisingly positive in the cycle analysis.
ReplyDeleteThe market seems steadier with back and fill type action. Ideally, it would be good to see the 1340 hold, but mainly I want to see what happens next week in that positve zone. I have been looking for a low May 9-10th so quite pleased with the results.
Seems gold will continue to go down until Greece situation is solved. In these times Gold should be sky rocketing instead it's the opposite.
ReplyDeleteGold is sitting right on that white line...bounce off of 1530...lets see where it goes here..
ReplyDeleteSomething really interesting to read:
Gold & Silver Decline: George Soros Nearly Quadrupled Gold Stake in Q1
Despite once calling gold the “ultimate bubble,” George Soros’ hedge fund nearly quadrupled its exposure to the SPDR Gold Trust from 85,450 shares in the fourth-quarter to 319,550 shares in the first-quarter. Soros Fund Management also opened a new position through call options in Newmont Mining (NYSE:NEM), one of the world’s largest gold producers.