Via Energy and Gold.com: Gold marginally broke below support on Friday, breaking down from a small H&S top pattern: The breakdown from this pattern targets a test of the March lows ($1140-$1150). However, the “break” was not as clear or as powerful as we would usually like to see when chart patterns resolve. $1180 has… Continue Reading

Via Energy and Gold.com: I came across two powerful China charts from J.P.Morgan this weekend:   During the last decade the correlation between Chinese monetary conditions/nominal GDP growth and commodities is almost uncanny; the CRB bottomed at the exact month that China monetary conditions bottomed in early 2009 and began rolling over again in 2011 just… Continue Reading

Via Energy and Gold.com: Weekend Commodity Chart Wrap 4/18/2015…   Gold with realized volatility (top) and implied volatility (bottom) Both realized and implied gold volatility have been in decline since the beginning of the year. The GVZ (CBOE Gold Volatility Index) is currently pricing in barely more than a 4% move over the next 30… Continue Reading

Via Energy and Gold.com: GDX is on the brink of one of most anticipated “breakouts” we’ve seen in quite a while:   There is a lot going on in the above chart and the situation is by no means clear. Here is some of what i’m looking at: The much talked about $20 support/resistance level… Continue Reading

Via Energy and Gold.com: While the casual market observer might look at Friday’s 1.18% rally in gold, closing modestly back above the $1200/oz level, as nothing to write home about. Friday’s session offers some subtle bullish signs that should not go ignored:   Many technicians will be quick to point out that a move back… Continue Reading

Via Energy and Gold.com: After suffering through what have arguably been the most challenging few years in the company’s history, Barrick (ABX) investors may finally be ready to profit from a sustainable turnaround in the company’s fortunes. ABX has right sized its cost structure and begun to focus on its largest and most profitable mines… Continue Reading

Via Energy and Gold.com: There has been a lot of talk in recent weeks about when the Fed will begin to raise interest rates. We have remained of the opinion that while the Fed may initiate a one-off symbolic rate hike at some point in the next year, a rate hiking cycle is still at… Continue Reading

Via Energy and Gold.com: Gold managed to close above its 50-day simple moving average for the first time since February, however, the shooting star candlestick outside the upper Bollinger Band should serve to give bulls some pause: The rally stopped just short of the 50% retracement level of the entire January-March decline. $1200-$1205 now becomes… Continue Reading

Via Energy and Gold.com: On Tuesday we highlighted a powerful long trade setup in the GDX and yesterday the goldies rallied 5.32%. This morning we are seeing a little profit taking ahead of a big resistance level near $20: From my vantage point the downtrend line drawn from the January high is highly significant – a… Continue Reading

Via Energy and Gold.com: Gold miners as represented by the GDX are threatening to fall for the 6th consecutive trading session after they were once again repelled near the $20 support/resistance level: A fun fact is that even during the gold mining bear market of the past 3 years the GDX has only fallen for… Continue Reading

Via Energy and Gold.com: Less than 10 days ago the gold miners were being pushed to the brink of collapse as gold waffled in the mid $1100s. This morning after an impressive rally to finish last week the gold miners are back to being on the verge of testing an area of support/resistance which they have traversed… Continue Reading

Via Energy and Gold.com: In the last two weeks gold futures speculators have liquidated a total of 66,897 gold futures contracts which equates to a notional amount of nearly $8 billion: To put this recent gold liquidation into perspective it is the largest 2-week liquidation in gold futures since the April 2013 gold crash: The… Continue Reading

Via Energy and Gold.com: The ultra-strong US dollar (USD) is making its presence felt throughout the globe and is on the verge of wreaking havoc on a much larger scale. A premature Fed rate hiking cycle could be the catalyst to send the USD into overdrive and send global markets tumbling lower – 4 charts that… Continue Reading

Via Energy and Gold.com: The gold miners as represented by the GDX have been pushed  to the breaking point with yet another ‘bear flag’ forming just a few percent above crucial long-term support:   To put the situation into perspective, GDX is barely more than 10% above the 2008 panic lows despite the fact that… Continue Reading

Via Energy and Gold.com: The CFTC Commitments of Traders gold report for Tuesday March 10, 2015 is a curious one to say the least. While we saw a roughly $4 billion liquidation of net long exposure by large speculators (to the smallest net long position since last November), small speculators actually INCREASED long positions and barely… Continue Reading