• 754 days Will The ECB Continue To Hike Rates?
  • 754 days Forbes: Aramco Remains Largest Company In The Middle East
  • 756 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,156 days Could Crypto Overtake Traditional Investment?
  • 1,160 days Americans Still Quitting Jobs At Record Pace
  • 1,162 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,166 days Is The Dollar Too Strong?
  • 1,166 days Big Tech Disappoints Investors on Earnings Calls
  • 1,167 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,168 days China Is Quietly Trying To Distance Itself From Russia
  • 1,169 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,173 days Crypto Investors Won Big In 2021
  • 1,173 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,174 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,176 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,176 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,180 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,181 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,181 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,183 days Are NFTs About To Take Over Gaming?
How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

  1. Home
  2. Markets
  3. Other

Precious Metals and Crude Oil Shows Signs of Strength

The past couple months (May and June) have been tough on precious metals and crude oil. But recent price action shows that buyers are stepping back into the market buying up these commodities once again.

Let's take a quick look at the charts...


Gold Futures Daily Chart:

As you can see from the chart below, gold is making a new high. The big question is if it will do what it has done many times in the past, which is make a new higher for only a few days to get the general public (herd) long, only to then get sold into and come back down? The next few sessions will give us a better feel for this breakout/rally.

Gold Futures Chart


Silver futures Daily Chart:

Silver on the other hand has not performed as well as its yellow sister. Rather we are seeing a base being formed. The exciting thing about base patterns is that the larger and longer the base takes to form, the larger the potential move once a breakout occurs.

Silver Futures Chart


Crude Oil Hourly Chart:

Crude oil looks to be forming a base and or inverse head & shoulders pattern. Both these patterns point to higher prices with a price target around the $110-112 area.

Crude Oil Hourly Chart


Mid-Week Trend Report:

In short, I feel commodities are now in the spot light and where investors will be looking to put their money to work over the next couple weeks as the falling dollar directly helps boost their prices.

The equities market continues to be volatile with large waves of buying and selling almost hitting the them every trading session. During key pivot points in the market we know pricing for investments get a little crazy at times and we manage positions accordingly and anticipate some moves.

 


That's all for now, but if you would like to get my pre-market video analysis each morning and intraday updates along with trade alerts be sure to join my premium service here: http://www.thegoldandoilguy.com/free-preview.php

 

Back to homepage

Leave a comment

Leave a comment