I’ve been largely focused on daytrading cryptocurrencies the last couple months so I havent been focused on gold, miners or any related commentary. Thinking about the new year and how I’ll allocate resources, I’m taking a look at long term charts. This is what I’m seeing at the moment.

Gold week & month: (notes on the chart for these)

Edit: chart note references july $1265 high, should be july $1365 high.

USDJPY week & month:
Seemingly no-man’s land here…..why? Momentum is DEAD. 13ma is over the 34ma (bullish) BUT both have flatlined w/ no momentum on either side. Need a huge rip through 114.50 to get the bull going for USDJPY. Otherwise gold seems to have hardly cared much about this sideways action lately. I’m getting the same message from the weekly & monthly charts. One thing to notice on the monthly is that the 13ma has FLATLINED right before it crossed the 34ma. Very concerning & shows momentum is dead. Again it’ll need a rip through 114.50 to get the bull going & ma’s crossing.

GDX week & month:
Weekly chart looks great! Just like gold, hit the lower bollinger & bounced without expanding it downwards into a bear trend. Bounced at the same level as previous 3 bounces. Very positive sign here. The monthly chart is equally as exciting in my opinion. You have the 13ma still in a bull cross over the 34ma, and December’s monthly candle is closing strong and pushing the 13ma back in the upwards direction! Very encouraging! Maybe 2018 will turn into a replay of early 2016?

In summary, gold & miners look strong while the USDJPY looks questionable at best, IMO. So Im leaning towards bullish PMs here unless the picture changes drastically.

Good luck & Happy healthy prosperous New Year to everyone!