P. Radomski
CFA, Editor & Founder @ Sunshine Profits
Przemyslaw Radomski, CFA, is the founder, owner and the main editor of SunshineProfits.com. You can reach Przemyslaw at: http://www.sunshineprofits.com/help/contact-us/.
P. Radomski Articles
What Happens Before Bigger Declines? The clue to answering the above question lies in the final part of the rally that we saw last week.
Let’s start today’s analysis with a very short-term chart (hourly candlesticks) featuring the GDXJ ETF – a proxy for junior mining stocks. These miners have been the most volatile part of the precious metals sector – at least, it’s the...
Fear and greed are common in the market, and due to them, people tend to follow specific patterns over and over again, regardless of the exact economic surroundings and also pretty much regardless of the time when it’s all taking place....
Enough is enough. No market can decline without correcting every now and then. And both gold and the USDX point to an upcoming reversal. Let’s start with gold.
Gold stocks just closed at a new 2023 low! Not only that – miners declined more than gold while silver was “strong.” That’s a VERY bearish combo.
Looking at gold from the short-term point of view, we see that it paused for a brief moment at its 38.2% Fibonacci retracement level. Some will even say that there was a “big reversal”…
In all likelihood – yes. Then it’s likely to slide more – much more. With this pace (chart courtesy of GoldPriceForecast.com), gold could move below $1,800 in no time.
It’s the Fed interest rate decision day, and the markets are holding their breath, awaiting the uncertain. However, charts already suggest the answer.
Gold has fallen and appears to be on its way to invalidating the recent breakout. What happens when it slips below $1,900?Gold Moved LowerIn a recent extra Gold Trading Alert, I wrote that gold would be likely to invalidate Friday’s (Jan....
Before starting today’s analysis, I would like to emphasize that we might see some erratic price movements with regard to the USD Index – gold link. The reason is that today is the day when the news from Europe hits the market. The ECB...
