Pass the Popcorn

Gold and Silver UP

Stock Futures Down

Could be a Fun Day

We Deserve some fun eh ?

A Few Bullish Possibilities For The PM Space

I have not had the time to keep up with this site so forgive me if any of the following chart scenarios have already been posted.

Because Barrick Gold is among the largest gold producers on the planet, Ive been following its chart developments as a possible proxy for the PM space.  This first daily chart for Barrick shows a possible 5 month inverted H&S pattern in the making.  Note the break out above the 5 month AP line shown on the solid line version.

 

Next is a weekly chart for Barrick that shows how the above purple inverted H&S pattern fits into a possible 3 1/2 year inverted H&S pattern.  The above purple H&S has the appearance of being the right shoulder for the larger possible 3 1/2 year pattern. The solid line weekly also shows a slight break above the purple H&S AP line.

 

Next is a daily stacker chart showing bullish possibility’s for some of the largest gold producers on the planet.

 

This simple solid line monthly chart for gold shows the recent break out of a 4 point wedge shown in purple.  The purple wedge has the appearance of being a possible halfway pattern to the up side.  The black dashed line illustrates the possibility of Gold building out a right shoulder around the high 1700’s for a much larger inverted H&S pattern.   As much as I thought gold was going to back test the 6.5 year inverted H&S AP line around the mid 1350’s, the recent break out of the purple 4 point wedge on this monthly chart has me thinking we may not be getting a BT.   Although a mid 1350’s BT for gold still remains a possibility, this chart seems to be suggesting the possibility of higher Gold prices.

 

This next chart is a Gold quarterly chart posted here back on Jan 18th 2018.  The 4 positive MACD bars along with the bullish MACD cross over are the first seen on a Gold quarterly chart since the early 2000’s.  For the long term trend trader, this chart says Sit.

After way too many years of listening to way too many, I’ve been telling my self for some time now that the successful completion and breakout of a chart pattern in any direction (is all the catalyst I need).  And, if circumstances change, I am getting much better at accepting that change while leaving my denial at the door.

 

Added, the following chart is a recreation showing nothing but simple moving averages for Gold.   Unfortunately, I can not remember the original source so credit goes to the unknown creator.

Up and away

GAPALOOSA

Silver – Watch Closely

Nothing is set in stone here. You’ve all seen my numerous posts explaining why I think the technical set up is looking superb, and perfect for a very significant move to the upside. I’d be doing a disservice if I didn’t acknowledge other possible outcomes (as Fully and others have very well pointed out). I consider this a low probability, but unlikely things do happen.

I’m not turning bearish, but I do have an open mind.

Tools to help deal with a mania

Remove fear.. and #fomo disappears. Not sure about something? Then figure out a plan ahead of time so you’ll be more ready when the event happens.

It’s like that for EVERYTHING in life.. so why not your trading?

Here is a tool that might come in handy for the next parabolic advance…

Repocalypse Update

https://wallstreetonparade.com/2019/12/these-charts-show-why-the-fed-is-still-in-a-panic-over-the-repo-loan-market/

Shout out to Sir Eddie at the Rambus Forum for finding this.

Looks like this Blog is a Repocalypse Now Blog

Book mark it if you want to scare yourself every day

🙂

A RIDE FOR THE AGES

Where were YOU in the Fall of 2010 thru to Spring of 2011 ?

Many / Most here were on this ride .

Remember ?

Who Sold ?

Crickets !

And I bet no one can tell me WHY this happened when it did ?

WTF was going on in the world in this time period to make such an incredible thing happen to our Bob ?

And what happened to make it STOP so abruptly ?

A Prize to anyone who can tell us.

Comparing Gold Bubbles

As for the precious metals complex breakout… gold never confirmed it was post 79-80 bubble, as it never overcame monthly defined breakout line…

But it did now!

Now, could gold runaway in it’s own bull era without silver? Maybe, but as I have shown, silver still reacts partly as a precious metal… and if gold flies… it should follow.

GSR ratio will tell you when it’s time to favor silver in favor of gold to maximize returns.

More On Silver

I’m attempting to analyse and compare Silvers price action back in the 1980’s to now, but am unable to get a chart on Stockcharts that goes back before 1980 (I have no idea why, as I used to be able to go back to 1970). Regardless of that though, I’ve looked very closely at what’s happening now, and this is my advice…