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Some thoughts on silver

Have a look at this silver monthly chart below: A lot of people are presumably waiting for silver to get back down to re-test broken breakout area around $19-$20, before loading longs again. If silver gets there, it would be a bearish sign IMO and I would only expect a modest bounce there. Indeed, in …

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USD/CAD set to resume lower?

The USD/CAD may be about to resume its bearish trend, thanks mainly to ongoing weakness or the US dollar and the rebound for crude oil boosting the appeal of the Canadian dollar. More to the point, there was a technical failure for the USD/CAD to hold its breakout above the key 1.32 handle on Thursday: …

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[Video] Gold testing key support

Will it bounce and resume its bullish trend or break down and drop like a stone? Gold, which has been correlating more positively than negatively with the S&P 500 over the past few years, has fallen along with technology stocks in recent days. The dollar has also bounced back, and this has provided additional pressure. …

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[Video] Gold closes in on all-time high as silver jumps 6pc

Both precious metals have continued higher as the breakdown in the gold-silver ratio caused silver to jump 6% as it broke though the $20 psychological hurdle before reaching $21. Gold, which had already been outperforming for months, has also extended its gains, but less spectacularly. As promised in my previous analysis video on precious metals …

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[Video] Gold and silver break further higher

Both gold and silver extended their gains today, so I figured it was time to provide some analysis on the precious metals. People that follow me know I have been bullish these metals for a long time, and I continue to think more gains will be on the way, especially silver which looks relatively inexpensive …

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FTSE breaks out on impressive NFP beat

Following the publication of another impressive US jobs report, risk assets have extended their gains with European and US indices rising sharply. In case you haven’t seen the headlines, a good 4.8 million non-farm jobs were added in June with the unemployment rate falling to 11.1% from 13.3%. What’s more, the prior month saw an …

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[Video] Trading the fakeout

The fakeout or a false break is by far my favourite reversal pattern. Knowing how to identify such setups can be very rewarding if traded correctly – hence the saying that from false breaks come fast moves in the opposite direction. You can learn more about false breaks on Investopedia, so I won’t bore you …

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[Video] Gold: stage set for breakout

Gold has been printing constructive price action of late, pointing to a potential breakout. Investors have been buying the dips in gold mainly because of the view that long-term interest rates will remain very low thanks to the vast central bank stimulus. In addition, the metal has been supported by haven flows due to elevated …

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EUR/USD in reversal as dollar comes back to life

Following Thursday’s big falls for equities (because of concerns over economic recovery and new infections), the dollar has come back to life on haven flows. With the dollar extending its gains this late in the day on Friday, it looks set to extend its advance against the likes of the euro and pound next week. …

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Gold testing resistance

Gold broke down on Friday as stocks rallied on the back of the much-stronger US nonfarm jobs report, which further fuelled optimism about the recovery. The dollar index closed higher, ending a run of losses. However, at the start of this week, the precious metal has started higher again on the back of a mixed …

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