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NFTRH+; nominal Gold, Silver & GDX

Gold is having a normal disturbance at the SMA 200 and associated resistance. What would make gold less normal (to an ongoing short-term rally) is a drop below support at 1735 and  the SMA 50 (1722 and rising). Silver in essence hit our target of 24.50 yesterday and so again, today’s reaction is normal. But now clear support at 22 (+/-) comes into play and … Continue reading NFTRH+; nominal Gold, Silver & GDX

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NFTRH+; pre-market from a golden perspective

It’s FOMC week, the eggheads have dispersed to their private offices and now into the void comes man, machine, black box and casino patron of all stripes. FOMC week; it was bound to be volatile. Let’s take a gold-centric view to gauge the metal’s standing within the wider markets. Gold/Silver is bouncing this morning along with the US dollar. That’s normal, both in the correlation … Continue reading NFTRH+; pre-market from a golden perspective

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NFTRH+; this is the moment [w/ edit]

[edit] The analysis below, if it proves to be bullish, is about precious metals only, not broad markets. A subscriber questioned this and I’ll again note that the view for gold mining is counter-cyclical, which means a decelerating economy and declining inflation is the best environment for gold miners. Stocks may discount a recession at any time, but my view continues to be that there … Continue reading NFTRH+; this is the moment [w/ edit]

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NFTRH+; Gold and Silver chart update

The daily chart of gold shows a retreat in the price to the 1st support level, which should hold if this is going to be a relatively easy pullback/correction. This morning’s candle stabbed through it, tested the EMA 20 and hammered back to support. But let’s also be aware of the SMA 50 floundering down at 1688 with the next visible support in the 1670 … Continue reading NFTRH+; Gold and Silver chart update

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NFTRH+; the state of things

Today the market is supposedly negative due to election uncertainty. But whatever way it goes, the historical post-election data suggest out performance compared to the 2022 run up to the election at worst, and a rally at best. The media think that if Republicans take congress it would be positive and negative if the Democrats do. Historical averages say it probably will not matter much … Continue reading NFTRH+; the state of things

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NFTRH+; Gold & Silver futures, daily charts

The gold price (futures) has taken out resistance #1 at 1675 and is trying to take out 1700 as well. The next objective is around 1750. Aside from that, it is making a move to take out the SMA 50 (blue) and to the probable excitement of pattern watchers, it is breaking upward from a falling wedge. If the seasonal is here early we can … Continue reading NFTRH+; Gold & Silver futures, daily charts

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NFTRH+; a couple of important gold ratios

The nominal gold price is positive this morning and still trapped below initial resistance. The silver price has retaken and thus far held the daily SMA 50. The copper price has smashed back above its SMA 50, up stronger than either of the above as the bounce attempt from support at 3.30 grinds on. Let’s take a look at the gold/silver and gold/copper ratios. The … Continue reading NFTRH+; a couple of important gold ratios

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NFTRH+; SPX, Commodities, Gold & Silver, post-FOMC

It appears another FOMC was used as a reason to bull the markets (on hopes about a softening Fed) and then drop the markets (on dashed hopes). Gotta love those machines; programmed for max noise and mayhem. SPX appears on track for our original and longest standing target, the 3200 (+/-) area as the futures (ES) are down another 1% this morning. If that is … Continue reading NFTRH+; SPX, Commodities, Gold & Silver, post-FOMC

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NFTRH+; Gold, silver and the Gold/Silver ratio

The gold price is up this morning as FOMC prepares to deliver its latest rate hike as it fights the last war. Below are the daily technicals, to be considered along with the positive sentiment and risk/reward backdrops and the ‘still in process’ macro fundamentals. While gold is trying to hammer out a low at an area a weekly chart would show to have little … Continue reading NFTRH+; Gold, silver and the Gold/Silver ratio

NFTRH 729, out now

And don’t forget to try a 2 week free trial to the best market report and service of its kind. NFTRH 729, out now. For “best of breed” top down analysis of all major markets, subscribe to NFTRH Premium, which includes an in-depth weekly market report, detailed market updates and NFTRH+ dynamic updates and chart/trade setup ideas. Subscribe by Credit Card or PayPal using a … Continue reading NFTRH 729, out now