Gold’s intermediate term indicators remain bullish, and mining picks are fine.
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Our mining picks held their own last week, and we’re holding on to them this week. Here’s the list, with charts.
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Short term indicators for gold have edged to the sell side. The 13-17 week cycles are due for consolidation. However, cycle projections still point higher. The 9-12 month and 15 month cycle indicators continue to signal upturns, but they need to cross their zero lines to suggest more upside.
Subscribers, click here to download report.
Our mining picks held their own last week, and we’re holding on to them this week. Here’s the list, with charts.
Try Lee Adler’s Gold Trader risk free for 90 days!
A 13-17 week cycle high is due for gold, with a projection of xxxx-xxxx (subscribers only), but the down phase should be benign given the apparent strengthening of the 9-12 month cycle. There’s no longer a projection on that cycle. The 6-7 week cycle projection has risen to xxxx. (subscribers only)
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In the mining stocks, short term cycles remain in up phases, and the 13 week cycle appears to have shifted into trending mode. Cycle projections have risen, with xxx-xxx (subscribers) the likely short term target. The 10-12 month cycle now projects to xxx (Subscribers) in the third quarter.
I have added 5 new miners to the chart pick list. Try Lee Adler’s Gold Trader risk free for 90 days!
Gold broke out of a nice base last week. I’m holding on to our mining picks, except for one that I dropped.
If gold’s trading feels like an indecisive mess to you, it is because it is. Short term and intermediate cycles are all opposed to one another, and there’s no impetus in either direction. But there have been signs of life in the miners, and we have a few picks to swing.
The short term outlook isn’t positive, but the longer intermediate cycles remain on the buy side. There’s just one thing to look out for, and it’s big. Plus, we hold on to two mining picks, and swing with another.
There are signs of hope in the charts of gold, and the miners.
The 13 week cycle projection rose enough to give some hope that gold will break its downtrend. But Monday’s selloff in the miners was mildly problematic. Here’s what to look for, to signal that the worst is over.
The good news is that the 13 week cycle up phase now has a projection that indicates some upside. The bad news is that that projection won’t break the downtrend. Here’s what needs to happen for sustained good news.
Meanwhile, last week’s swinging miner picks did well, and I added one more for good measure, despite low expectations.
The bad news is that the 13 week cycle up phase has been weak, and is on the brink of failure. The worse news is that the 9-12 month cycle low is now overdue, and the projection points lower. Much lower. However, a couple of the miners show signs of potential upturns. I have featured charts of those in this report.
Lee Adler