Wealth Creation Through Natural Resources
Gold has a very strong tendency to put in a major low during July and rally well into September/October. In fact, using a 20 year seasonal study chart we can see that gold typically makes one final dump lower into … Continued
After drifting lower on light volume for the last month the goldies (GDX) enjoyed their first strong trading session since early May: A high volume bullish engulfing candlestick with a close at session highs. As illustrated by the blue circles in … Continued
From Morgan Stanley: “Output from operating mines and committed projects is set to fall by 450t to 2020, with over 50 mine closures from 2015-17 alone (Wood Mackenzie). There’s a long pipeline of projects totaling 580t of extra production … Continued
During my twelve years of trading virtually every financial market and instrument imaginable I have learned that the best trades are anticipated and prepared for days, weeks, and sometimes months in advance. Moreover, the best trading setups occur when multiple … Continued
GDX passed an important test of support today. The goldies were looking absolutely dreadful this morning but buyers showed up near a crucial area of support around lunchtime and put the throttle to the floor into the close: $18.75 … Continued
Weekly chart wrap for the week ending 6/5/2015 – we saw some seismic moves in interest rates as equities began to show some chinks in their armor. The current trends are as follows: Oil: Oscillating within a range Precious metals: … Continued
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
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
One of the things I noticed early on in investing in junior mining equities is that they follow technical patterns fairly well. In other words, the charts are much cleaner indications of investor supply & demand with much less influence … Continued
This is an interesting graphic courtesy of RBC illustrating a large drop-off in managed money (CTAs, commodity pool operators, etc.) positioning in commodity futures: After reaching extremely high net long exposure earlier last year before the crude oil crash, managed … Continued