Last week we were looking for a big move in gold with a good chance that prices would either test 1550 or 1650 once the multi-week ascending triangle resolved. Sure enough gold made a $65 high to low move last week as prices tumbled below the key support at 1550, testing bulls’ resolve once again. The… Continue Reading

The “make fast cash flipping houses” ads are back in force, construction is resurgent, consumers are walking around with shopping bags again, “mom & pop investors” are raising their 401k contributions, and US equities have healed their financial crisis wounds, rising to all-time highs. Animal spirits are also on the rise. You can see it.… Continue Reading

While the gold market has traded within a volatile and at times confusing range over the past several weeks, I believe the situation has rarely been clearer from a technical standpoint. The key levels in the near term are 1590 and 1620, with a break of either level likely implying a much larger move is… Continue Reading

With this week’s strong upside move in shares of PTA.V I thought it would be a good time to update the technical outlook for the stock: Click to enlarge PTA Weekly  PTA Daily

As a technical analyst my job isn’t to focus on fundamentals or to look into a crystal ball to determine which fundamental catalysts might be just around the corner. Rather, it is to analyze price action and figure out what the market may be signalling could happen. More importantly, it is to accurately gauge risk… Continue Reading

Gold rallied less than 1% today, meanwhile, the GDXJ (Market Vectors Junior Gold Miners ETF) gained 3.68% closing at session highs. Every day we hear a lot about how “stocks are the only place to be invested”, as gold and other “uncorrelated assets” have suddenly lost favor among investors. However, there has been no greater… Continue Reading

Petroamerica Oil Corp’s recent pullback is the entry opportunity that investors have been waiting for – the next leg higher will likely bring PTA shares above .60: Let’s go to the charts: The fundamental story speaks for itself. PTA is currently producing over 4500 bopd with netbacks over $70 per barrel, meaning the company is trading… Continue Reading

Two weeks ago an investor friend phoned me up and asked “Should I dump my shares of Luna Gold? I’m worried about gold and all my other stocks are down…..”. I pulled up the LGC chart and was quickly impressed by the relative strength and large recent consolidation between $3.00 and $3.50. Instead of advising… Continue Reading

Gold looked terrible last week as market sentiment and bullish market positioning reached fresh multi-year lows. Moreover, we heard a lot about “death crosses” and how gold was no longer the place to be invested because the equity market rally was in full swing. What a difference a few days makes! Gold has bounced more… Continue Reading

Last weekend I wrote “While I remain neutral on gold in the short/medium term, another session similar to Friday’s will probably be enough to turn me bullish on all time frames” – today we not only got another large sell-off, we got the kind of capitulation washout that is indicative of a major short/medium term low… Continue Reading

“The one theme that has proven to be more valuable than any other for gold investors has been to buy during times of extreme bearish sentiment and to avoid panicking with the herd.” Gold currently finds itself in an unfamiliar situation, one which it hasn’t had to deal with in well over a decade. Gold… Continue Reading

US equities are currently situated at a very interesting place, both technically and in terms of overall market sentiment. Let me begin by saying that I don’t believe the previous high levels in the Dow or S&P are of much relevance in the current market. The Russell 2000 in in new all-time high territory, the… Continue Reading

Gold bulls have to be concerned after this week’s poor performance by the yellow metal in the face of enormous gains for equities. Gold continues to make lower highs as it trends lower within a well defined downtrending channel as seen below: Click to enlarge While the daily chart certainly doesn’t look pretty, the long… Continue Reading

In an effort to remain as terse as possible I have selected five markets (6 charts) which I believe will be of most importance and interest during 2013: Copper: Click to enlarge Since the large sell-off during September 2011, copper has continued to trade in a tightening coil within a large symmetrical triangle – the… Continue Reading

While most of the publicly traded senior gold producers have ugly charts that don’t inspire much optimism, there is one gold stock which has begun to show some encouraging signs that a bottom may be in place and that brighter days lie ahead: Click to enlarge After performing terribly throughout 2011 and 2012 Kinross Gold… Continue Reading