Gold & Silver: Silver Hits Support As Gold Cracks Consolidation

Aibek Burabayev - Contributor - Metals

The recent collapse of the top precious metals shouldn't be a surprise if you read my previous Gold & Silver update in November, where I called for the upcoming “storm” after the “calm.” In this post, I’ll share with you the updated charts of both metals.

I changed the order of the charts, and this time I would start with silver as it reached the first decision point ahead of gold.

Chart 1. Silver Daily: First Target Reached

Daily Silver Chart (XAGUSDO)
Chart courtesy of

Silver has a strong bearish structure as the red long-term trendline keeps the pressure on silver. The second leg of consolidation within the black parallel channel lacked power as the price couldn’t reach even the top of the first leg established in October at the $17.47 per oz. It stalled at the $17.39 per oz. and then collapsed for more than a half of a dollar to check the consolidation support. Continue reading "Gold & Silver: Silver Hits Support As Gold Cracks Consolidation"

Top Silver Miners Are Vulnerable As Silver Hits Refreshed Low

Aibek Burabayev - Contributor - Metals

Silver (FOREX:XAGUSDO) hit the previous low set in October at the end of last week in line with my expectations posted earlier. It undoubtedly affects the silver mining companies’ stocks, and in this post, I would like to update their performance for you.

The top silver mining stocks filtered last time by ROE are SSR Mining Inc. (NASDAQ:SSRM) (former ticker SSRI), Coeur Mining Inc. (NYSE:CDE) and Pan American Silver Corp. (NASDAQ:PAAS).

Chart 1. Top Silver Stocks By ROE Vs. Silver: No Winners

Silver vs. Silver Miners
Chart courtesy of

The chart above begins on the 8th of September, 2017 when silver shaped the peak and started to drop. For the past three months, there are no winners here. Silver (black) lost the least, but still a significant -8.5% for this short period. If you read my earlier post about the top gold stocks’ performance you found that there was at least one stock (Golden Star (GSS)) with the positive dynamics. Continue reading "Top Silver Miners Are Vulnerable As Silver Hits Refreshed Low"

Gold Stocks Are Under Pressure Except For One

Aibek Burabayev - Contributor - Metals

Gold is under pressure after it couldn’t break above the previous major top and the gold stocks couldn’t escape the same fate. Last time I filtered the gold stocks by ROE and in this piece, I would like to make an update on their price performance for you.

To remind you, the top stock tickers are ABX (Barrick Gold), SBGL (Sibanye Gold), IAG (IAMGOLD), GSS (Golden Star) and HMY (Harmony Gold Mining).

Chart 1. Top Gold Stocks Vs. Gold: The Brightest Star Is The Golden Star

Gold vs. Gold Stocks
Chart courtesy of

Gold topped on the 8th of September at the $1357 level, and that’s where I have started the chart. Gold (black) lost more than 4% from that peak. Three of the five stocks lost more in price than gold did: HMY (green) fell for more than 13%, your favorite (see chart #3) ABX (red) dropped almost 21%, and the worst performer is IAG (purple) with -21% drop, which was the top gainer in the previous update. Continue reading "Gold Stocks Are Under Pressure Except For One"

Gold & Silver: The Calm Before The Storm

Aibek Burabayev - Contributor - Metals

In September I warned you about the possible weakness in both gold and silver after a good rally as strong reverse signals appeared on the chart. That warning alert paid well as the metals dropped heavily – gold lost more than 7%, and silver fell more than 10%. I hope it helped those of you who had market exposure that time.

There are updated charts below with further price action forecast, which is based on pattern recognition and market staging approach. I hope my detailed graphs with annotations will help you understand market behavior, training your eyes to recognize patterns and determine market stages with me.

Chart 1. Gold Daily: The Baby Bird Could Fall Out Of The Nest

Gold Chart
Chart courtesy of

In the previous gold chart I put two zigzags to show you possible paths for further price action, the red zigzag was the main option, it showed the downside move with a small consolidation inside. In reality, the drop has been even sharper with just a minor correction within. Continue reading "Gold & Silver: The Calm Before The Storm"

Copper Update: 1-Year After The Election Of Donald Trump

Aibek Burabayev - Contributor - Metals

American Dream

One year has passed since President Donald Trump was elected to office. That month I wrote a post about copper’s ultimate monthly performance compared to other commodities thanks to the new president’s promises of huge infrastructure rebuilding.

Below is a 1-year performance chart of copper to see how the metal has been doing since Election Day.

Chart 1. 1-Year (from November 8th, 2016) Copper Performance

Cooper Performance One Year
Chart courtesy of

Cooper gained a hefty 25% for the period with a peak of around 33% that it hit last month. In the post-election months copper exploded to the upside, but then the euphoria in the market was changed with profit taking erasing earlier gains. Continue reading "Copper Update: 1-Year After The Election Of Donald Trump"