NFTRH 725 excerpt: Gold & Silver big picture

Excerpted from the October 2 edition of Notes From the Rabbit Hole, NFTRH 725: Gold & Silver Gold and silver (monthly chart) continue in the cyclical bear that started in mid-2020. I had originally (and incorrectly) projected a Cup & Handle for gold that had to be revised to a double top when the 2022 high failed to gain blue sky. I’ve left the Cup … Continue reading NFTRH 725 excerpt: Gold & Silver big picture

Gold, Silver & Copper CoT data improve from already constructive to bullish alignments

In an ‘all one market’ signal, gold, silver and copper are contrary constructive, bullish and bullish respectively by sentiment/positioning in the Commitments of Traders Gold improved this week from an already okay alignment as large Specs sold and shorted, Commercials covered shorts and bought and little guys net shorted. Not bad. From CFTC… Silver was already very bullish by the contrary CoT view and now … Continue reading Gold, Silver & Copper CoT data improve from already constructive to bullish alignments

NFTRH+; next support levels for silver

Support at 18 (+/-) is giving way (I’ll probably release SLV) and the weekly chart shows the next two objectives, should this not prove to be a fake out prior to reversal. That is hope. The chart is the chart and if this breakdown remains in play we’re looking at the 17 area, potentially followed by 16 (+/-). Despite the deplorably bearish sector sentiment, the … Continue reading NFTRH+; next support levels for silver

2 Horsemen of the (macro) Apocalypse ride on…

The US dollar and the Gold/Silver ratio are bulling together… And per the Seinfeld bad chicken episode, “that’s not gonna be good for anybody.” Here we see Uncle Buck (DXY) doing what he has been doing since he began diverging the inflation hysteria well over a year ago. And his fellow rider doing similar. For anyone new to this, the ratio of gold to silver … Continue reading 2 Horsemen of the (macro) Apocalypse ride on…

NFTRH+; a clear macro signal

If you are like me you may have had some measure of mental macro whipsaw recently as the short-term signals bounce from disinflationary/Goldilocks to inflationary and back again. Fairly annoying. But this set of indicators, the Gold/Silver ratio (GSR) combined with the US dollar index, beg a cautious stance on the inflated macro, including – if history is a guide – on gold stocks (which … Continue reading NFTRH+; a clear macro signal

NFTRH+; Gold and Silver daily chart technicals

A daily chart view for short-term reference. Gold has bounced to the SMA 50 and resistance associated with that area. Option 1: Bounce failure. Option 2: Break on through to the other side for a meeting with the SMA 200 at 1841. Silver has halted at the first resistance area, which includes the hard diving SMA 50. With the power of the recent negative sentiment … Continue reading NFTRH+; Gold and Silver daily chart technicals