LIVE Gold Prices $  | E-Mail Subscriptions | Update GoldSeek | GoldSeek Radio 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page >> News >> Story  Disclaimer 
Latest Headlines to Launch New Website

Is Gold Price Action Warning Of Imminent Monetary Collapse Part 2?
By: Hubert Moolman

Gold and Silver Are Just Getting Started
By: Frank Holmes, US Funds

Silver Makes High Wave Candle at Target Ė Hereís What to ExpectÖ
By: Clive Maund

Gold Blows Through Upside Resistance - The Chase Is On
By: Avi Gilburt

U.S. Mint To Reduce Gold & Silver Eagle Production Over The Next 12-18 Months
By: Steve St. Angelo, SRSrocco Report

Gold's sharp rise throws Financial Times into an erroneous sulk
By: Chris Powell, GATA

Precious Metals Update Video: Gold's unusual strength
By: Ira Epstein

Asian Metals Market Update: July-29-2020
By: Chintan Karnani, Insignia Consultants

Gold's rise is a 'mystery' because journalism always fails to pursue it
By: Chris Powell, GATA


GoldSeek Web

Positive Action in the Gold Complex

 -- Published: Wednesday, 19 February 2020 | Print  | Disqus 

 - Rambus

Over the last few weeks or so Iíve been writing a lot on the critical inflection point the PM complex was showing us. Todayís price action is an important step in confirming the potential bullish outcome. There is still more work to be done from a longer term perspective but its one step at a time until total confirmation is attained.

Lets start with the daily line combo chart weíve been following very closely which shows many of the smaller blue trading ranges that are breaking out today. As you know Iíve been looking for one more decline back toward the bottom of the August 2019 trading range to complete a possible 4th reversal point. You can use the HUI as a proxy for the rest of the PM stock indexes which shows where the possible 4th reversal point would be.

If we donít get that 4th reversal point and the PM complex rallies strongly above its August 2019 high then the trading range will have to be either a H&S consolidation pattern or a cup & handle. Note the CDNX which looks like it is trying to put the finishing touches to its 2019 H&S. The GLD is still the strongest area within the PM complex as it is hitting new highs for this rally phase. The 2 Canadian etfís have been building out a nearly 5 month parallel rising channel. Those types of patterns can breakout in either direction but todays price is suggesting that the HGU.TO is likely to breakout to the upside as itís cracking the top rail today.

Click on charts to ENLARGE

This next chart is the weekly combo chart for the PM complex Iíve been posting at the end of the week which shows the potential H&S consolidation patterns that have been forming. So far none of the possible H&S consolidation patterns have given way yet. It looks like the GDXJ may be one of the first PM indexes to takeout its neckline which would be bullish for the rest of the PM complex.

This last chart is the UUP / HUI combo chart weíve been following for most of the rising channel on the UUP. This chart shows you a good example of how negative divergences can fail just when you think they will workout. You can see the big breakout move out of the blue bullish falling wedge on the UUP while the HUI has only traded sideway chopping out the blue triangle.

 - Rambus

| Digg This Article
 -- Published: Wednesday, 19 February 2020 | E-Mail  | Print  | Source:

comments powered by Disqus


Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to >> Story

E-mail Page  | Print  | Disclaimer 

© 1995 - 2019 Supports

©, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer


The views contained here may not represent the views of, Gold Seek LLC, its affiliates or advertisers., Gold Seek LLC makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of, Gold Seek LLC, is strictly prohibited. In no event shall, Gold Seek LLC or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.