Stocks about to go higher (bitcoin too)?
(Kitco commentary) - An update on the stock market via a zoomed out daily chart of S&P futures: Resistance at 4195 continues to hold up, for now. I have written that should price get into the yellow area a test of the top of the zone is likely; I think price is preparing to break into the yellow zone.
Metals under pressure - will it last?
(Kitco commentary) - Gold has broken below spot $1990, and the support line I presented last week; the same daily chart is shown below.
Silver smashed into a buying opportunity?
(Kitco commentary) - Below is a 4-hour chart of silver (updated from the 3-hour interval I showed Monday).
Bears try to strike back - but trend still intact
(Kitco commentary) - The last line I wrote on Thursday last week was: For now, I am braced for more volatility coming on tomorrow mornings jobs report. The volatility on Friday did not disappoint; sellers may have done enough to prevent that runaway rally I also alluded to on Thursday.
Metals: Volatility in spades
(Kitco commentary) - My last words on Friday last week were, If nothing else, brace for upcoming volatility. The market delivered in spades Monday morning, with silver making a full $1 pop and dropping in a 3-hour timeframe.
Silver setting up the next move
(Kitco commentary) - Silver is consolidating in a bullish flag formation, shown below on the 3 hour timeframe:
Golden opportunity to buy the dip?
(Kitco commentary) - On Wednesday last week, I wrote: The bottom of the yellow highlighted boxes are where I believe prices may find support.
Rhodium ready to rock?
(Kitco commentary) - Let me caution that rhodium, and the rhodium market should in my opinion be understood prior to venturing.
Metals: Technical damage not a reversal in trend
(Kitco commentary) - I wrote Monday that, in my opinion, dips in metals were likely a buying opportunity until such time as technical damage occurred. As a regular reader soon after commented, "Technical damage is done."
Metals: Emotions aside, nothing has changed
(Kitco commentary) - From a technical perspective, Fridays indiscriminate selling hasnt done damage.
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