Available to premium subscribers only.

The interim downside target has very important trading implications. Even though gold's rebound might just be temporal, something much more profound is likely to take place in case of mining stocks and silver. You will find more details in today's flagship Gold & Silver Trading Alert. Subscribe now and read today's issue right away.

Sincerely,
Przemyslaw Radomski, CFA
Editor-in-chief, Gold & Silver Fund Manager

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Available to premium subscribers only.

The interim downside target has very important trading implications. Even though gold's rebound might just be temporal, something much more profound is likely to take place in case of mining stocks and silver. You will find more details in today's flagship Gold & Silver Trading Alert. Subscribe now and read today's issue right away.

Sincerely,
Przemyslaw Radomski, CFA
Editor-in-chief, Gold & Silver Fund Manager

• Read more

Available to premium subscribers only.

The upcoming breather is not likely to be anything significant, and the following decline is likely to be much more important - in particular in terms of implications for various parts of the precious metals market (especially in case of mining stocks and silver). You will find more details in the premium version of our Gold & Silver Trading Alerts. Please note that the subscription includes access to the intraday Alerts, which are sent whenever the market situation requires it - and it seems that we're about to enter quite volatile period. Subscribe now and read today's issue right away.

Sincerely,
Przemyslaw Radomski, CFA
Editor-in-chief, Gold & Silver Fund Manager

• Read more

Available to premium subscribers only.

The upcoming breather is not likely to be anything significant, and the following decline is likely to be much more important - in particular in terms of implications for various parts of the precious metals market (especially in case of mining stocks and silver). You will find more details in the premium version of our Gold & Silver Trading Alerts. Please note that the subscription includes access to the intraday Alerts, which are sent whenever the market situation requires it - and it seems that we're about to enter quite volatile period. Subscribe now and read today's issue right away.

Sincerely,
Przemyslaw Radomski, CFA
Editor-in-chief, Gold & Silver Fund Manager

• Read more

Today's free analysis will be relatively brief, as practically everything that we wrote previously remains up-to-date. If you've just joined us, to get a better context, please read yesterday's and Monday's Alerts for more details, as in today's analysis, we'll focus on the one chart featuring gold that is likely to trigger a very short-term move.

The potential trigger for the reversal is the triangle-vertex-based reversal, which is due today.

Previously, we've commented on the above chart in the following manner:

(...) Gold rallied one more time, but it managed to do so back above the previously broken resistance. Therefore, the breakdown was confirmed, and the outlook remains very bearish, especially given the indications from gold's long-term chart and its self-evident pattern.

The next support is at $1,700, where gold approximately topped and bottomed multiple times earlier this year. That's also the 61.8% Fibonacci retracement based on this year's upswing.

Please note that gold has yet another impending triangle-vertex-based reversal just a few days away (tomorrow or Wednesday). Given today's pre-market breakout in the USDX, it seems quite likely that gold would decline shortly and perhaps form a brief bottom tomorrow or on Wednesday, after which the slide would continue. Simultaneously, the USDX could be taking a breather, verifying the breakout in the process.

(...) We might see some breather or a small rebound throughout the week, after which the decline would probably continue - most likely in a sharp manner.

Since the reversal point is due today, it seems that gold could start its corrective upswing shortly.

The upcoming breather is not likely to be anything significant, and the following decline is likely to be much more important - in particular in terms of implications for various parts of the precious metals market (especially in case of mining stocks and silver). You will find more details in the premium version of our Gold & Silver Trading Alerts. Please note that the subscription includes access to the intraday Alerts, which are sent whenever the market situation requires it - and it seems that we're about to enter quite volatile period. Subscribe now and read today's issue right away.

Sincerely,
Przemyslaw Radomski, CFA
Editor-in-chief, Gold & Silver Fund Manager

• Read more