"No warning can save people determined to grow suddently rich" - Lord Overstone

  • 1 hour Will Regulatory Rollbacks Make Banks 'Too Big To Fail?'
  • 2 hours Elon Musk’s $2.6 Billion Tesla Challenge
  • 3 hours Tech Giants Could Be First Victims Of U.S. Trade War
  • 4 hours Dow Gains Despite Fed’s Rate Hike
  • 5 hours The Biggest Threat To Chinese Oil Futures
  • 7 hours Spending Bill Could Cause U.S. Debt To Soar To 99% Of GDP
  • 8 hours Precious Metals Slide Ahead Of Fed’s Interest Rate Decision
  • 10 hours China’s Soft Power Grab May Be Bad News For Emerging Economies
  • 1 day The Secretive Wall Street Firm Betting On Bitcoin
  • 1 day ‘Data Is King’: The Oil Industry’s Next Most Valuable Resource
  • 1 day Google Invests $300 Million To Combat Fake News
  • 1 day Zuckerberg Dodges A Bullet As Facebook Loses Billions
  • 1 day Tesla Tumbles As Investors Lose Patience
  • 1 day Are Alt-Coins On The Verge Of A Break Out?
  • 1 day What Should Gold Investors Expect From The New Fed Chair?
  • 1 day Who Will Pay For Trump's $60 Billion China Tariffs?
  • 2 days Vladimir Putin’s Mysterious Fortune
  • 2 days Cryptos Resist Social Media Crackdown
  • 2 days The Death Of Dodd-Frank
  • 2 days Bitcoin Bounces Back Ahead Of G20 Meeting
Trump's Trade War Nears Boiling Point

Trump's Trade War Nears Boiling Point

Trump’s trade war appears to…

Stewart Thomson

Stewart Thomson

Stewart Thomson is a retired Merrill Lynch broker. Stewart writes the Graceland Updates daily between 4am-7am. They are sent out around 8am-9am. The newsletter is…

More Info

Gold's Uptrend Of Champions

Graceland Updates 4am-7am
March 21, 2017

1. Gold looks technically superb, and the fundamentals look even better.

2. Inflation is rising in China and the West, the dollar looks shaky against key fiat competitors, and a reversal in American money velocity is imminent.

3. Please click here. Double-click to enlarge this hourly bars gold chart.

4. The next COMEX options expiry day is March 28. Gold has a rough general tendency to trade a bit sluggishly ahead of option expiry days, and that appears to be happening now.

5. Please click here. Double-click to enlarge this daily bars chart for gold.

6. I call this technical picture the "uptrend of champions".

7. For a closer look at the price action within the uptrend channel, please click here. Double-click to enlarge. There's an inverse H&S bottom pattern in play on this four-hour bars chart.

8. For gold, all my technical lights are green, and once this option expiry day is out of the way, the "Queen of Assets" should make a beeline towards the $1265 area highs!

9. Please click here. Double-click to enlarge. Against the yen, the dollar looks horrible. Note the action of the 50DMA and 100DMA moving averages. A sell signal seems imminent. That's good news for higher gold price enthusiasts.

10. Please click here. Double-click to enlarge. Against the Swiss franc, the dollar looks like a train wreck. The moving averages are flashing a sell signal, and that comes after a meltdown from an H&S top pattern.

11. Please click here. Double-click to enlarge. The euro is rallying strongly against the dollar, and it looks set to stage an upside breakout from both a triangle and inverse H&S bottom pattern.

12. In regards to global stock markets, please click here. It's clear that for their stock market action, the Western gold community should be selling America at a profit and buying Asia.

13. American bank stocks are the one exceptions to that "rule"; banks will prosper as rates rise. They will do a lot of lending to Europe and to Asia, because that's where the higher growth is going to take place.

14. Please click here. Double-click to enlarge. That's the INDA stock market ETF, and the price action is superb.

15. From an emotional perspective, Western gold bugs (including myself) tend to get very nervous about US stock market sell-offs. We tend to wonder... "Is this the big one?"

16. Having a tremendous floor of positive fundamentals can help to alleviate those concerns. Those fundamentals exist in China and even more so in India.

17. Please click here. Double-click to enlarge. That's another look at the Indian stock market ETF, this time against the American SP500 index.

18. I expect this massive outperformance of India versus America to continue not just for months or years, but for decades, and perhaps for the next 100 - 200 years.

19. Please click here. Double-click to enlarge this fabulous short term GDX chart.

20. It's very important that all gold stock investors do not get overly carried away with price action that is mildly disappointing.

21. The bottom line is that gold stocks soared on Janet's third rate hike, and are now treading water ahead of options expiry day for gold.

22. There's a flag-like pattern in play for GDX and many key senior gold stocks. The volume pattern is excellent; volume is rising on upside price action, and declining on downside price action.

23. If most gold stock investors are honest with themselves, I don't think they expected to see QE tapered to zero, rate hikes in play, with gold and gold stocks doing well!

24. Please click here. Double-click to enlarge. On this daily bars chart, GDX looks great. There's now a buy signal in play on the 5,15 series of moving averages, volume is superb, and my 14,7,7 Stochastics oscillator is roaring higher. All lights are green for the world's ultimate asset, and for the great mining companies that dig it out of the ground!



Special Offer For Website Readers: Please send me an Email to freereports4@gracelandupdates.com and I'll send you my free "Gimme The Golden Cash Flow!" report. I cover six key gold stocks that have rising free cash flow and dropping costs that institutional money managers are beginning to buy in size!


Back to homepage

Leave a comment

Leave a comment

Sign Up For The Safehaven Newsletter