Chris Kimble, Founder of Kimble Charting Solutions shares 4 charts that he is keeping an eye on fold gold investors. The USD, Euro and Swiss Franc can all be used as barometers for potential major moves in the precious metals. Follow along with the charts below.
Here is an update from our good friend Chris Kimble at Kimble Charting Solutions. Chris outlines what he would like to see to confirm the bull market for gold and what could lead to the next big pop higher.
After a big summer rally, Gold peaked out at $1566/oz in September.
Since then, Gold prices have been consolidating between $1475 and $1550.
So what’s happening here? Enter the Swiss Franc currency…
In today’s chart, we look at a key indicator (and correlation) for Gold. As you can see, the Swiss Franc has an uncanny resemblance to Gold.
Both Gold and the Franc are testing heavy resistance at the same time.
Until both breakout at (2), odds are low that a new Gold bull market emerges with another big rally leg higher.
Looking back, it wasn’t until both Gold and the France broke out above price resistance at each (1) that a new Gold bull market emerged. Can it happen again? Stay tuned!
Chris Kimble joins me on this Thanksgiving Day in Canada and Columbus Day in the US. We look into the semiconductor sector and use that as a barometer for the overall US markets. Follow along on the charts below that Chris and I dive into.
Chris Kimble, Founder of Kimble Charting Solutions, shares 5 charts with us, all posted below. We first revisit a chart shared last interview asking for your thoughts on a trading strategy. We also share another chart and ask for your thoughts on how you would trade it. The final three charts focus on gold and relate the USD chart to possible moves and wrap it up with the S&P chart.
Please email your trading thoughts to Chris at Kimblechartingsolutions@gmail.com and I at Fleck@kereport.com.
Is Silver creating a multi-decade bullish Cup & Handle pattern? Possible!
Silver peaked at $50 in the early 1980s and then proceeded to fall for years. It peaked again at $50 in 2011 and it has declined for the past 8-years.
The two peaks at the $50 level could be the top of a bullish cup and handle pattern.
One this is for sure, Silver has been very weak over the past 8-years, as it has declined over 65%! The 8-year decline in Silver has created a uniform falling channel.
The move higher in Silver of late does have it breaking above the falling channel at (1). This breakout sends a bullish message to Silver owners.
The next important resistance test for Silver comes into play at the $17.64 level!
What would it take to determine if Silver has created a multi-decade bullish cup and handle pattern? A clean break above the $50 level, which is still a “long, long” way off!
Chris Kimble, Founder of Kimble Charting Solutions shares 5 charts (below) that focus on different currencies and relate to possible moves in gold. There are also some comments on the charts of GDX and GDXJ. A lot of these charts are testing key levels where if a break happens could lead to a further run in the precious metals.
Chris Kimble, Founder of Kimble Charting Solutions kicks off today by sharing 5 charts focused on gold and copper. For gold there are some side markets that need to perk up to confirm the bull market. In terms of copper, sentiment is washed out and the price is testing a lower support zone. Just a couple things to watch in the near term.
Chris Kimble – Founder of Kimble Charting Solutions shares 5 charts that focus on the USD, gold, and silver. With gold breaking out and the dollar heading down this is a very good set up for PMs.
Chris Kimble, Founder of Kimble Charting Solutions shares his thoughts on the charts below outlining some of the lesser talked about commodities. WE start with the US markets and consider the range they have been trading within for over a year. Then we move into lumber and a possible correlation to the markets and wrap it up with wheat and coffee. As always check out the chart below.
Chris Kimble, Founder of Kimble Charting Solutions is with us this week for a look at copper. With copper nearing some strong short term support levels and sentiment very bearish Chris outlines a trade where a long position could yield some nice returns.