Valuable Insights from Around the Web – Thu 7 Dec, 2017

gold precious metals price support important_november

By Cory

A 6-Pack Of Metals Charts

Chris Kimble first shared the charts below about a month ago stating that gold and precious metals in general were at an importation juncture. Follow through to today and these charts are all breaking down. Check out the charts below to see the worries Chris has.

As a quick comment when we see so many people and chart turning negative on the metals at this time of the year there are still plenty of opportunities for investors. There are stocks cashed up and releasing some great numbers but the market does not care.

Click here to visit Chris’s website for more technical commentaries on a wide range of markets.

… Here’s the postings from Chris…

Gold and Precious Metals Sector At Important Juncture!

Investors are right to be a little concerned when looking across the metals sector of late.

Gold (NYSEARCA:GLD), Gold Miners (NYSEARCA:GDX), and Steel… there all in a short-term decline and approaching critical price support levels. Most of these are trend lines so bulls want them to hold.

In the the chart below, you can see 6 different angles on Gold, the Gold Miners, and steel. And in each of these snapshots, you can see that price action is nearing important trend line support levels.

The short-term and long term are converging here, so perhaps the next move will have a meaningful impact on your portfolios.

Stay tuned!

…And the follow up comments…

Gold/Precious metals could be in trouble here

Back in early November, I shared a 6-pack of charts showing that Gold (NYSEARCA:GLD) and the broader metals sector were all testing key price support levels.

Well, those price levels appear to be giving way to the downside. And this could be warning of lower prices to come. In the updated 6-pack of charts below, you can see blue trend lines for various charts of Gold, the Gold Miners (NYSEARCA:GDX), and Steel (NYSEARCA:SLX). In each of the charts you can also see where price is declining through the trend line (red shaded areas). The most watched and notable is the Gold decline.

Each of these breakdowns are still in the early stages and will need to see a follow through day to the downside (with strong volume) as confirmation.

Put these on your radar. Caution advised here.

…read more

Source:: The Korelin Economics Report

The post Valuable Insights from Around the Web – Thu 7 Dec, 2017 appeared first on Junior Mining Analyst.

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