Silver Looks Into The Dark Abyss

Aibek Burabayev - INO.com Contributor - Metals - Silver


I hadn't updated the silver chart since February when I warned you that the metal dangerously approaches the support of the Triangle pattern. After that, I posted a gold update as I found an amazing historical similarity there.

There’s been so much water under the bridge since February, but nothing had changed in the precious metals markets until the end of last month when the crucial trigger was pulled.

Below is an updated chart of the silver that I would like to share with you these days as it contains an excellent trading opportunity.

Silver Weekly Chart: Triangle Was Broken Down

LLLL
Chart courtesy of tradingview.com

Silver could escape from that troubled situation which I pointed out in February as the price briefly punctured the downside of the Triangle pattern (orange) and then happily reversed higher on the back of broad dollar weakness. Continue reading "Silver Looks Into The Dark Abyss"

Gold Update: Old Is "Gold"?

Aibek Burabayev - INO.com Contributor - Metals - Gold Update


Recently, I was looking for my school notes amongst my old stuff for my eldest daughter to help her understand chemistry as my school teacher was a real fanatic on this subject. During the process, I found many things with memories from my youth, and it prompted me to call my old friends and discuss those handwritten letters that we used to send by messenger. We couldn’t have ever imagined that the digital era would come.

Quite often things from the past can help us today. I decided to dig deep into the past on the gold chart to understand what is happening with our frozen gold market these days. Bingo! He who seeks shall find.

Below is the chart with my annotations to illustrate the findings.

Chart. Gold Quarterly (Logarithmic): This “Vinyl” Could Play Again

Gold Update
Chart courtesy of stooq.com

First of all, I would like you to pay attention to the word “Logarithmic” in the chart title, which is usually abbreviated as “Log” in the chart options. It means that the Y-axis of the chart has log scale, which is nonlinear and commonly used for the broad range of the data. Continue reading "Gold Update: Old Is "Gold"?"

Disney Could Rally After A Long Pause

Aibek Burabayev - INO.com Contributor - Metals - Disney


In February my respected fellow author Noah Kiedrowski recommended that you to take a look at The Walt Disney Company (NYSE:DIS) and supported his view with an extensive analysis of the company, which has quite a positive outlook and sound fundamentals. He has been covering Disney for some time on the Blog and I am sure his focused research could let you find quite useful data about the company.

I spotted an interesting long setup on the Disney chart recently, which confirms Noah’s February outlook and I am happy to share it with you in this post. Now you will have his background analysis augmented with my technical outlook for a 360⁰ view.

Chart: The Walt Disney Company Monthly: Finishing Triangular Consolidation

Disney
Chart courtesy of tradingview.com

After examining the long-term chart of this fantastic company, I understood why my colleague admires Disney so much. This stock is like other great companies that are moving all the way up with quite long consolidations. The previous one was observed from 1998 till 2009 with seesaw moves of the wide range between $13 and $44 marks. After it broke loose, the stock just rocketed to the sky-high level at the $122 in 2015 with just minor pullbacks. The RSI then has reached an extremely overbought level at the 88 mark. Continue reading "Disney Could Rally After A Long Pause"

Canada Goose To Be Plucked Again

Aibek Burabayev - INO.com Contributor - Metals - Canada Goose


In this post, I want to share a chart setup. This one has a bearish outlook as Canada Goose Holdings Inc. (NYSE:GOOS) is showing signs of further weakness.

Chart Canada Goose Daily: Market Is Going To “Pluck” It Again

Canada Goose
Chart courtesy of tradingview.com

So many times, investors fail in an attempt to predict the top or the bottom of the market. The chart of the Canada Goose can be used to show a textbook illustration of this phenomena as from the end of 2017 the price of this stock was making new high one after another until it reached the $38 mark in February. I guess that investors started to short GOOS from $26 and above as the all-time high streak persisted. Continue reading "Canada Goose To Be Plucked Again"

Gold Failed And Silver Is On The Edge

Aibek Burabayev - INO.com Contributor - Metals- gold silver prices


As promised in my earlier post I updated the silver chart for you in this post as I spotted some exciting patterns forming on the chart below. But first, I would like to start with the stronger of the two metals, gold.

Chart 1. Gold Daily: Couldn’t Tag Previous Top

gold silver prices
Chart courtesy of tradingview.com

Indeed, it was another excellent try when the bulls attempted to break loose from this long-lasting range established between $1046 and $1375 in 2016. But the RSI indicator didn’t agree as lower tops showed a hidden Bearish Divergence and this spoiled this nice bullish attack. The $1375 resistance has been left untouched. Moreover, now this strong indicator indicates that the bears took the ball as it dipped below the crucial 50 level. Continue reading "Gold Failed And Silver Is On The Edge"