Wealth Creation Through Natural Resources
For the last two months gold has been ping-ponging between support around $1180 and resistance near $1225: To be sure, the $1180 level has been tested many more times than the $1225 resistance level. Given the extremely low levels … Continued
It’s been a long time since i’ve seen such an abundance of yellow/red flag warning signs out there. At this moment I would be remiss if I did not point out all the warning signs i’m seeing: M&A activity during the … Continued
4 troubling charts: 1. Chicago PMI at levels which have historically almost always correlated with recessions 2. Producer prices offer a strong whiff of deflation… 3. U.S. 1st quarter GDP was absolutely dreadful regardless of all … Continued
After a record run of 16 consecutive weekly U.S. crude oil inventory builds the tide has turned and we are currently experiencing a streak of 4 consecutive weekly drawdowns: Via Sober Look Given that we aren’t even at peak demand … Continued
Gold has tumbled more than $50/ounce in the last 8 trading sessions and there is ample cause for concern that the decline isn’t over yet: Thus far support at $1180 has held, however, given the number of times this … Continued
The TSX-Venture has spent the last 6 months putting in a bottoming pattern (ascending triangle) and running into resistance just above the 700 level. However, a breakout could be close at hand… The series of higher lows remains intact … Continued
Here are some stats on the Shanghai Composite: +49% year-to-date +143% in the last year Up 5 consecutive trading sessions Investor margin debt has more than doubled in the last year Shanghai Composite (Daily) Shanghai Composite (Weekly) … Continued
Many major commodities such as copper and crude oil made important lows during January (while crude made a marginal new low in March, it’s clear that January marked a major momentum and sentiment low for black gold). It’s been four months … Continued
Since the December 2013 low in the gold miners the $19-$21 support/resistance level has been by far the most heavily traded price zone in the GDX: I continue to believe that the gold mining sector is on the verge of … Continued
It was a brutal day for the gold mining sector with a 3.61% loss and a close at session lows: Today’s candlestick is called a ‘bearish marubozu‘ due to the large full body with an absence of shadows on … Continued