Technical analysis providing the near-term outlook for the US stock market, gold, platinum, silver, crude oil & the US Dollar. Playback speed can be increased in the settings to reduce the duration of the video
The momentum indicators continue to lag behind gold prices as GLD (gold ETF) pushes higher within this 60-minute bearish rising wedge pattern. GLD 60-min Jan 16th The recent breakout in EUR/USD has occurred with potential divergences forming on the PPO & RSI which increases the chances that this breakout might soon fail, sending [...]
Member @stock51 requested an update on silver within the trading room & as I started to compose my reply along with the charts, I realized that the precious metals could be at or near a significant inflection point & as such, will post my analysis here on the front page for all members to see. [...]
GDX (gold miners ETF) appears poised for a pullback with a sell signal to come on a break below this uptrend line & the 23.35ish level. The most likely target is the support zone that runs from about 23.00 to 23.12 with the possibility of a deeper correction back down to the 22.23-22.32 area. 60-minute [...]
Technical analysis on the US stock market, gold, GDX as well as several sectors & trade ideas that stand out at this time. Covered in the following order are ACBFF (Aurora Cannabis), EUR/USD, (Euro & US Dollar), GLD & GDX (gold & gold mining ETFs), QQQ, SPY, XBI, IBB & GE (General Electric).
Technical analysis on the US stock market along with several sectors that stand out at this time including the Euro & US DollarGLD (gold ETF) & GDX (gold miner ETF), XBI (biotech ETF) & XES (oil & gas equipment & services ETF).
Regarding the outlook for gold & the precious metals sector, one hardly needs to include a chart either GLD or GDX as the charts of EUR/USD are often sufficient to assess the outlook for gold, which has a strong direct correlation with gold prices. After putting in a divergent high & then breaking down below [...]