It appears that the precious metals, mining stocks & the US Dollar are at important technical junctions that could determine the next major trend in each. This video covers those levels as well as the near & longer-term outlook for gold, silver, platinum, GDX, the US Dollar & the Euro.
The outlook for gold (GLD), silver (SLV), platinum (PPLT), the precious metals stocks (GDX) as well as the US Dollar.
Member @dpatel inquired about my thoughts for the precious metals & mining stocks. As I believe that any analysis on gold & silver isn't complete without including the outlook for the US Dollar, let's start there. My preferred scenario has the US Dollar Index continuing down to the 93ish level followed by a bounce & [...]
GLD (Gold ETF) went on to break down below the 60-minute bearish rising wedge pattern posted yesterday with UUP (U.S. Dollar ETN) also breaking out above the bullish descending price channel. Hard to say where this pullback would end but I favor the reversal to come anywhere from the top to the bottom of the [...]
UUP (US Dollar Index ETN) is moving higher after a second consecutive divergent low on this 60-minute time frame & appears quite likely to hit any or all of the resistance levels in this shaded area. If so, that will continue to put downward pressure on gold in the near-term. UUP 60-min May 8th [...]
Analysis of gold, GDX (gold mining ETF) and the US Dollar including both the near-term & longer-term outlook. Potential buy points & key support & resistance level are also highlighted.
Technical analysis of gold, the precious metal mining stocks & the US Dollar via GLD, GDX & UUP. Both the near-term & longer-term outlook for gold, GDX & the US Dollar are outlined. @ww0987