Important Charts and Trends For US Markets and USD:Gold
Chris Kimble, Founder of Kimble Charting Solutions, is one of my new favorite technicians. He has a very straight forward way of presenting the charts to his subscribers – as you can see by the charts below. We discuss the difference in the daily and weekly charts for a number of major markets and sectors. Also the opportunities in GDXJ that have presented themselves in December that last 6 years. The final chart of the USD to Gold is a very telling sign about a general trend change that is underway.
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The charts below are in order of discussion. You can click the charts for a larger view.
Daily Charts
Weekly Charts
GDXJ
USD:Gold
The long bond is ready to rise with gold:
http://schrts.co/rQJtPv
UUP:GLD appears to be topping below obvious resistance. If so, this should add force to the downdraft when it it comes.
It doesn’t show on the following chart yet but gold has been capped today by fork resistance at the 1224 area. A close above it will set-up a very likely move to 1250+…
http://schrts.co/JPyzp3
Update: Gold closed exactly at that resistance.
The figure you mentioned Matthew as resistance was bang on. At least for todays close anyway. Im not convinced this rally has enough substance.
Silver/SLV has been acting well since Tuesday’s low:
http://schrts.co/qRaCXY
Though not technically confirmed, I’m betting that the miners have put in a big double bottom and will continue higher for weeks to come. This will be interesting considering gold is going to $400! LOL
XAU weekly:
http://schrts.co/6xUKXU
This is by far the best setup since 2016.
http://schrts.co/AAMXAG
Priced in gold, the miners are a buy.
XAU:GLD:
http://schrts.co/gBU4Fw
We have at least a mean-reversion coming:
http://schrts.co/mVTkYm
GDX:GLD:
http://schrts.co/toQbBS
It turned into a good week for gold:
http://schrts.co/ANwndy
It was a better week for the miners – the HUI provided 3x gold’s gain…
http://schrts.co/EMe49S
As usual, the best opportunities present themselves when virtually no one is bullish.
The junior silver miners will beat the sector again.
SILJ:GDX weekly:
http://schrts.co/5KFZM8