Best of the Week
Most Popular
1. Stock Markets and the History Chart of the End of the World (With Presidential Cycles) - 28th Aug 20
2.Google, Apple, Amazon, Facebook... AI Tech Stocks Buying Levels and Valuations Q3 2020 - 31st Aug 20
3.The Inflation Mega-trend is Going Hyper! - 11th Sep 20
4.Is this the End of Capitalism? - 13th Sep 20
5.What's Driving Gold, Silver and What's Next? - 3rd Sep 20
6.QE4EVER! - 9th Sep 20
7.Gold Price Trend Forecast Analysis - Part1 - 7th Sep 20
8.The Fed May “Cause” The Next Stock Market Crash - 3rd Sep 20
9.Bitcoin Price Crash - You Will be Suprised What Happens Next - 7th Sep 20
10.NVIDIA Stock Price Soars on RTX 3000 Cornering the GPU Market for next 2 years! - 3rd Sep 20
Last 7 days
Why You Shouldn’t Get Excited About Gold Price Mini-Rally - 26th Jan 21
The Truth About Personal Savings Everybody Should Know and Think About - 26th Jan 21
4 Economic Challenges for 2021 - 26th Jan 21
Scan Computers 2021 "Awaiting Picking" - 5950x RTX 3080 Custom PC Build Stock Status - 26th Jan 21
The End of the World History Stock Market Chart : Big Pattern = Big Move - 26th Jan 21
Stock Market Recent Sector Triggers Suggest Stocks May Enter Rally Phase - 26th Jan 21
3 Top-Performing Tech Stocks for 2021 - 26th Jan 21
5 Tips to Manage Your Debt - 26th Jan 21
Stock Market Intermediate Trend Intact - 25th Jan 21
Precious Metals Could Decline Before their Next Attempt to Rally - 25th Jan 21
Great Ways of Choosing Good CMMS Software for a Business - 25th Jan 21
The Dark Forces behind American Insurrectionists - 25th Jan 21
Economic Stimulus Doesn’t Always Stimulate – Pushing On A String - 25th Jan 21
Can Karcher K7 Pressure Washer Clean a Weed Infested Driveway? Extreme Power Test - 25th Jan 21
Lockdown Sea Shanty Craze - "Drunken Sailor" on the Pirate Falls Crazy Boat Ride - 25th Jan 21
Intel Empire Fights Back with Rocket and Alder Lake! - 24th Jan 21
4 Reasons for Coronavirus 2021 Hope - 24th Jan 21
Apple M1 Chip Another Nail in Intel's Coffin - Top AI Tech Stocks 2021 - 24th Jan 21
Stock Market: Why You Should Prepare for a Jump in Volatility - 24th Jan 21
What’s next for Bitcoin Price – $56k or $16k? - 24th Jan 21
How Does Credit Repair Work? - 24th Jan 21
Silver Price 2021 Roadmap - 22nd Jan 21
Why Biden Wants to Win the Fight for $15 Federal Minimum Wage - 22nd Jan 21
Here’s Why Gold Recently Moved Up - 22nd Jan 21
US Dollar Decline creates New Sector Opportunities to Trade - 22nd Jan 21
Sandisk Extreme Micro SDXC Memory Card Read Write Speed Test Actual vs Sales Pitch - 22nd Jan 21
NHS Recommends Oximeter Oxygen Sensor Monitors for Everyone 10 Months Late! - 22nd Jan 21
DoorDash Has All the Makings of the “Next Amazon” - 22nd Jan 21
How to Survive a Silver-Gold Sucker Punch - 22nd Jan 21
2021: The Year of the Gripping Hand - 22nd Jan 21
Technology Minerals appoints ex-BP Petrochemicals CEO as Advisor - 22nd Jan 21
Gold Price Drops Amid Stimulus and Poor Data - 21st Jan 21
Protecting the Vulnerable 2021 - 21st Jan 21
How To Play The Next Stage Of The Marijuana Boom - 21st Jan 21
UK Schools Lockdown 2021 Covid Education Crisis - Home Learning Routine - 21st Jan 21
General Artificial Intelligence Was BORN in 2020! GPT-3, Deep Mind - 20th Jan 21
Bitcoin Price Crash: FCA Warning Was a Slap in the Face. But Not the Cause - 20th Jan 21
US Coronavirus Pandemic 2021 - We’re Going to Need More Than a Vaccine - 20th Jan 21
The Biggest Biotech Story Of 2021? - 20th Jan 21
Biden Bailout, Democrat Takeover to Drive Americans into Gold - 20th Jan 21
Pandemic 2020 Is Gone! Will 2021 Be Better for Gold? - 20th Jan 21
Trump and Coronavirus Pandemic Final US Catastrophe 2021 - 19th Jan 21
How To Find Market Momentum Trades for Explosive Gains - 19th Jan 21
Cryptos: 5 Simple Strategies to Catch the Next Opportunity - 19th Jan 21
Who Will NEXT Be Removed from the Internet? - 19th Jan 21
This Small Company Could Revolutionize The Trillion-Dollar Drug Sector - 19th Jan 21
Gold/SPX Ratio and the Gold Stock Case - 18th Jan 21
More Stock Market Speculative Signs, Energy Rebound, Commodities Breakout - 18th Jan 21
Higher Yields Hit Gold Price, But for How Long? - 18th Jan 21
Some Basic Facts About Forex Trading - 18th Jan 21
Custom Build PC 2021 - Ryzen 5950x, RTX 3080, 64gb DDR4 Specs - Scan Computers 3SX Order Day 11 - 17th Jan 21
UK Car MOT Covid-19 Lockdown Extension 2021 - 17th Jan 21
Why Nvidia Is My “Slam Dunk” Stock Investment for the Decade - 16th Jan 21
Three Financial Markets Price Drivers in a Globalized World - 16th Jan 21
Sheffield Turns Coronavirus Tide, Covid-19 Infections Half Rest of England, implies Fast Pandemic Recovery - 16th Jan 21

Market Oracle FREE Newsletter

FIRST ACCESS to Nadeem Walayat’s Analysis and Trend Forecasts

Precious Metals & Miners Prepare For An Early 2020 Liftoff

Commodities / Gold & Silver 2020 Dec 31, 2019 - 05:36 PM GMT

By: Chris_Vermeulen

Commodities

Over the moderately quiet 2019 Christmas holiday season, while the US and global stock markets continue to push higher, precious metals and miners have begun to move dramatically higher as fear settles into the markets.  Our researchers believe this upside move in metals and miners represents a measured increase in investor concern related to early 2020 and the global economy.

Our research team believes the current rally in the US stock market is an enthusiastic upside price move that does not have true fundamental support.  We’ve authored a number of articles and research posts that highlight our belief and we suggest this upside move in Gold and miners is a sign of underlying fear that is growing in the global markets.


JUNE 24, 2019: NEXT BULL AND BEAR MARKETS ARE NOW SET UP

December 16, 2019: CURRENT EQUITIES RALLY SIMILARITIES TO 1999

This Weekly Gold chart highlights our proprietary Fibonacci Price Amplitude Arcs and the recent downside price move in Gold along the Red Fibonacci Price Arc.  This level of resistance was recently broken in early December and the current upside price rally in Gold has already rallied up to the heavy Green Price Arc.  This current Green Price Arc should act as a major resistance level in an uptrend.  Once this level is broken, it is very likely that Gold will continue to accelerate higher – well beyond the $1600 price level.

Should Gold rally above $1600, possibly targeting $1750 or higher, in early 2020, a shock-wave would sound across the globe that Metals are signaling absolute fear in the markets.  If our expectations are correct, $1750 will be one of the first basing areas for Gold before a move to levels well above $2000.

This JNUG Weekly chart highlights our Adaptive Fibonacci Price Modeling system and clearly shows the upside potential/targets base on Weekly price rotation.  The bottom setup near $52.40 in early November sets up a price range from the peak in early August to the bottom in early November.  This range suggests an upside price rally may take place in JNUG that targets $124.50, $155.65, and $176.00.  These levels are based on the adaptive Fibonacci price theory applied to the expanding price rotations over the past 2+ years. 

As you can see from this chart, the recent rallies on this chart are bigger and include more price volatility than previous moves.  This range expansion suggests upside price targets based on Fibonacci theory will be 1x or 2x traditional 100% measured moves.

This GDXJ Weekly chart provides a less volatile option for skilled traders to trade this upside price move in Metals and miners.  It is very clear to see the upside resistance on this chart near $43.10 and the fact that the current upside price rally bar is targeting that level.  Once this level is broken, we believe upside target levels near $46.50, 51.24, and $60.80 are likely.  Each of these upside price targets represents a moderately strong upside potential in Gold and is contingent on a strong rally taking place breaking the initial Green Fibonacci Price Amplitude Arc as we suggested near the top of this article.

This last Weekly chart of Gold highlights the Weekly Fibonacci Price Modeling system and the core support near $1480 to $1510 (the Blue Box/Line).  This level of support is identified by the BLUE Fibonacci Price Modeling System retracement target (Square).  We believe the breakdown in price after the Pennant/Flag formation in late October was investor/news-driven as the US Fed announced lower interest rates and the new cycle continued to push “US/China Trade Deals Soon” topics.  This was a way to settle investor’s nerves and distract them from the underlying market dynamics.

Now, 2+ months later and about to start into 2020, we believe investors are starting to get ahead of the true market valuation levels and understand that precious metals are truly undervalued given the amount of risk in the markets currently.

We authored a powerful article about precious metals cycles and how they can drive incredible investment opportunity in early December.  You can find our link to that research post below.

December 7, 2019:  7 YEAR CYCLES CAN BE POWERFUL AND GOLD JUST STARTED ONE

We believe this upside move in metals and miners is just getting started.  We believe a move to levels just below $1650~1700 will be complete the initial upside price leg, then a second upside price leg will push prices upward towards $1800.

You really don’t want to miss this big setup/move.  Please pay attention to the opportunities that are set up for skilled traders. 

As a technical analysis and trader since 1997 I have been through a few bull/bear market cycles, I have a good pulse on the market and timing key turning points for both short-term swing trading and long-term investment capital. The opportunities are massive/life-changing if handled properly.

I urge you visit my Wealth Building Newsletter and if you like what I offer, join me with the 1 or 2-year subscription to lock in the lowest rate possible and ride my coattails as I navigate these financial markets and build wealth while others lose nearly everything they own.

Chris Vermeulen
www.TheTechnicalTraders.com

Chris Vermeulen has been involved in the markets since 1997 and is the founder of Technical Traders Ltd. He is an internationally recognized technical analyst, trader, and is the author of the book: 7 Steps to Win With Logic

Through years of research, trading and helping individual traders around the world. He learned that many traders have great trading ideas, but they lack one thing, they struggle to execute trades in a systematic way for consistent results. Chris helps educate traders with a three-hour video course that can change your trading results for the better.

His mission is to help his clients boost their trading performance while reducing market exposure and portfolio volatility.

He is a regular speaker on HoweStreet.com, and the FinancialSurvivorNetwork radio shows. Chris was also featured on the cover of AmalgaTrader Magazine, and contributes articles to several leading financial hubs like MarketOracle.co.uk

Disclaimer: Nothing in this report should be construed as a solicitation to buy or sell any securities mentioned. Technical Traders Ltd., its owners and the author of this report are not registered broker-dealers or financial advisors. Before investing in any securities, you should consult with your financial advisor and a registered broker-dealer. Never make an investment based solely on what you read in an online or printed report, including this report, especially if the investment involves a small, thinly-traded company that isn’t well known. Technical Traders Ltd. and the author of this report has been paid by Cardiff Energy Corp. In addition, the author owns shares of Cardiff Energy Corp. and would also benefit from volume and price appreciation of its stock. The information provided here within should not be construed as a financial analysis but rather as an advertisement. The author’s views and opinions regarding the companies featured in reports are his own views and are based on information that he has researched independently and has received, which the author assumes to be reliable. Technical Traders Ltd. and the author of this report do not guarantee the accuracy, completeness, or usefulness of any content of this report, nor its fitness for any particular purpose. Lastly, the author does not guarantee that any of the companies mentioned in the reports will perform as expected, and any comparisons made to other companies may not be valid or come into effect.

Chris Vermeulen Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules