Gold & Silver

Has Silver Lost Its Luster? 2 Key Fibonacci Levels To Watch

To get a better idea of what’s happening with Silver, let’s start with a long-term view of price history. From the low of $3.92 in 1993 to the high of $49.82 in 2011, price increased by a massive +1170.91% (a +12 bagger) with +493.09% of the move occurring in just 30 months from October 2008 to April 2011. In the 2o year chart below (through 2013), you can see that there

Miner Stock Watch: Silver Wheaton (SLW)

Precious metals made a statement this past week. Silver, in particular, caught my attention. It was higher by more than 6% for the week. That kind of move puts the silver miners on my radar. One miner that came across on my chart scans is Silver Wheaton (SLW). Let’s take a look at some things that stand out to me on both the long-term and short-term price charts. Silver Wheaton

Is The Silver ETF (SLV) On The Verge Of A Breakout?

In just three weeks, Silver has gone from the brink of collapse to being on the verge of a price breakout. But this sort of price action isn’t uncommon from assets in a longer-term corrective phase; in short, bulls get worn down by the short relief rallies that return to the grinding stair-step lower. That said, the price action in the Silver ETF (SLV) looks promising, provided follow through confirmation arrives shortly.

Gold Prices Coiling: Wait For Resolution

After a tradable breakout above $1275, Gold prices ran back up to $1390 before retreating.  But that retreat turned into a quick tumble, as Gold slipped over $110 in two weeks to retest the $1275 level… again… and again.  This level continues to bear importance for gold traders. As it stands, the near-term price action shows gold prices coiling in wait for its next directional price move. And what happens over


As today’s session closes out on the benchmark S&P 500 (SPX) as an indecisive spinning top candlestick with bulls failing to press yesterday’s attainment of all-time highs, here are several similarly disconcerting charts that have been on watch the past several sessions. Over the weekend I did a couple of write-ups, giving separate cases supporting a measure of technical pessimism for the NASDAQ (NDX and the Composite) and Biotech.  Juxtaposing

Charting The Gold and Silver Price Breakouts

This past week was important for Gold and Silver investors. After breaking out above multi-week downtrend lines, both precious metals saw strong follow through (i.e. demand). This is exactly what technicians like to see following a clean price breakout. But much of this breakout analysis is short-term and it’s good to also zoom out and take in the big picture. So let’s look at the silver and gold breakouts on the

Gold Prices: Why $1275 May Be Key To Gold Rally

Gold prices are retreating this morning from a very important technical intersection around $1275/oz. Currently priced around $1260, I believe active investors will need to see gold prices rise above 1275 for the yellow metal to gain traction. As you can see in the chart below, Gold prices are putting in a near-term rally. This rally has taken prices to the November “breakdown” area, and up as high as its

Can Gold Miners ETF Hold Key Support, Divergence?

Gold Mining stocks have been badly beaten in 2013. Taking the Gold Miners ETF (GDX) as a proxy, the sector is down over 55% as of yesterday. That said, the Gold Miners ETF is hanging around near term support and trying to hold on to a weakening RSI divergence.  In short, if the Gold Miners are going to rally, it had better come soon. Looking at the near-term chart of GDX (see below), it’s apparent that

Precious Metals: Nearing Critical Support

After a nice shakeout and pivot higher in mid-October, precious metals ran out of steam and gave way to a stronger US Dollar and continued appetite for US equities. And with the current pullback in precious metals on day ten, investors should make note that both Gold and Silver are nearing important support… support that, if broken, could lead to another plunge lower… and support that, if held, could keep

Gold Breakout Targeting 1500, But Hurdles Abound

It’s been a wild ride for Gold prices, but the summer rally seems to be unfolding as expected. Back in August, I wrote a piece on the trading bottom in Gold prices and subsequent Gold breakout. In that post, I offered key resistance levels (i.e. gold price targets) for the Gold breakout.  Those resistance levels have been important thus far and will determine whether Gold can make its way back to