The Gold & Commodities category is a sub-section of Market Analysis that includes charts and commentary associated with precious & industrial metals such as gold, silver, and copper as well as various hard & soft commodities such as oil, gas, wheat, corn, etc…
An overview of gold via spot gold prices & GLD as well as the gold mining sector via GDX & NUGT.
Not only are these two levels (120.28 & 119.16) decent price support, they are also the 50 &61.8% Fibonacci retracements of the most recent rally in GLD. Should 120.25 go, GLD will likely continue down to at least the 119.15 area/61.8% Fib (60-minute chart): GLD 60-minute June 23rd The bigger picture for gold [...]
The 11.84 level has been a key support/resistance level posted on my 60-minute charts since the first day of the month. Further validation of that level has come so far today as USO has struggled at that level all day so far. USO just took out 11.84 with a 1-minute stick close above (as I [...]
This consecutive or 'double-negative divergence' will be confirmed should GDX move & close much below the 25 level today or tomorrow. GDX daily June 20th
This test of the 5/2 highs (or any relatively minor break above) in GLD (gold ETF) marks (or will mark) the 2nd consecutive divergence high, or double negative divergence in GLD unless prices breakout & continue much higher. I'll be watching the price action closely in the next few sessions to see if gold can [...]
This video takes a comprehensive look at the diversified U.S. stock indices as well as many key sectors of the U.S. market. These index & sector ETFs are discussed in the following order: SPY, QQQ, IWM, XLF, USO, XLE, XOP, XES, XLV, XBI, IBB, PBE, XRT, XLP, XLU & GDX.