NFTRH; Gold, Silver & Miners in Detail

Let’s take a snapshot of where the precious metals complex stands this morning. Gold probed the upper 1600s and support before the bounce (which continues this morning). Is this the bottom? There is nothing technically to indicate that. But it did drop to a preferred support zone amid terrible sentiment, so it’s possible. You can see the first objective, which is the lost support (now … Continue reading NFTRH; Gold, Silver & Miners in Detail

NFTRH+; In-day Snapshot of the Silver Operation

Chests were thumping and endorphins were releasing on Twitter, as if it were a done deal. Well, the deal is not done yet. But if we are going by the technicals and tuning out the pumpers… Silver is looking good. Silver Miner ETF is okay above the moving averages. Still, it’s not the Reddit style thing they’ve been pumping. I prefer this because it is … Continue reading NFTRH+; In-day Snapshot of the Silver Operation

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NFTRH; A Look at the Miner Bounce (GDX, GDXJ & SIL Daily Charts)

A technical update using daily charts for those micro managing the daily moves and shorter-term trends.  Fundamentally, I like that the stock market and crude oil have reversed downward today, but one in-day reversal there does not change recent fundamental discussion just yet.  But it is reflective of what would need to be happening on a sustained basis for me to get aggressively bullish the gold sector.

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NFTRH; Pullback Parameters for GDX, GDXJ & SIL

The precious metals were due to pull back and here is a pullback.  Please review this morning’s post for a look at how the macro market is setting up for the gold sector’s next bullish phase.  Remember that we launched fundamentally based on gold’s out performance of nearly everything else, as indicated by the weak silver-gold ratio.  But the rally matures as silver vs. gold matures.

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NFTRH; GDXJ, GDX & SIL Updated

Well they sure don’t make it easy to get a hard read on things in the very short-term, but one thing we should remember is that this correction is the last correction I expect before a consistent drive upward begins, assuming that either a hard rally or bull market are in the near future.  That is due to the symmetry of the weekly bottoming pattern, which will be reviewed in this weekend’s report.

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