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Precious Metals: Stocks and ETFs
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Precious Metals: Stocks and ETFs

  #51 (permalink)
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Gold, Silver & Palladium

Here's my latest charts for Gold, Silver & Palladium. Silver again looks to be weak still, as even though it rallied most of this week on the coat tails of Gold, it struggled once again at the $30 resistance and rolled over in Fridays session. Gold showed a bit more strength and got above it's horizontal resistance, but then rolled over at it's next resistance around $1650. The weekly chart shows it's at a critical point as the breakdown in December was halted by the three year trendline and it's now retesting that breakdown level. If it fails and breaks back below the three year trendline then we'd be into a new Stage 4 downtrend. So it's crucial for Gold to get back above it's resistance and the 30 week MA which is currently at $1685 or we could be seeing lower prices for a while.

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"Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill" Reminiscences of a Stock Operator.
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  #52 (permalink)
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Gold & Silver

Here's my alternate daily charts of Gold and Silver that I use for my short term trades. With the Keltner channels you can get a good idea of the short term ranges and I use a 3 level ATR channel. So the channel lines above and below the middle moving average are +1ATR, +2ATR and +3ATR above and -1ATR, -2ATR, and -3ATR below. A daily close above the +1ATR level is normally a good signal that the bulls are taking control and and close below the -1ATR level normally signals that the bears are in control.

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"Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill" Reminiscences of a Stock Operator.

Last edited by isatrader; January 15th, 2012 at 10:04 AM.
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  #53 (permalink)
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Gold, Silver & Palladium


Here's the latest Gold, Silver & Palladium charts. The Gold chart looks really interesting this week as it is fast approaching a confluence area on the chart at 1675 of multiple resistance zones with the down trend line, broken previous support, previous closing lows trend line and on the weekly the 30 week weighted MA. So watch how it reacts around this area this week as a break and close above would be strongly bullish, but if it starts to roll and can't close above it, then it could be a great quick short for a move back towards 1600.

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"Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill" Reminiscences of a Stock Operator.
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  #54 (permalink)
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A look at GOLD

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I like that look. And the charts. The daily still looks favorable but the 30 minute is currently a drag and gold is about $10 down before the NY open.
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  #55 (permalink)
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Gold

nice pop ...............

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  #56 (permalink)
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Gold, Silver & Palladium

It was a good week for Gold, Silver and Palladium as all made strong moves above some significant resistance and all managed to close the week above their 30 week weighted moving averages.

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"Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill" Reminiscences of a Stock Operator.
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  #57 (permalink)
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Gold, Silver & Palladium

The precious metals are still making good progress across the board and have done since the beginning of the year, but each metal is now moving into some resistance, so it could make any further progress tougher in the very short term.

My current Stages ratings on the weekly charts are: Gold - Stage 3, Silver - Stage 4B- and Palladium - Stage 1A

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"Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill" Reminiscences of a Stock Operator.
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  #58 (permalink)
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watching

watching GOLD. could be the start of a down move or pullback. could be.

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  #59 (permalink)
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I need

to see a chart of GDX, so why not share them.

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  #60 (permalink)
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Neutral


I say GLD is neutral. We got a red bar on the daily; it was an inside bar so we need to see a break. The Stoch is a sell. On the 60 min; divergence lead to the sell. Damn if that Kill Zone ain't pretty. We have a pullback on the 60 min which is the inside daily bar. An up pivot and a down pivot. Which one will break?

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