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PMs Again Under Pressure

As will be the norm much more often than not, my precious metals analyses will be part and parcel of the freely accessible Stock Trading Signals analyses. Here within Gold Trading Signals, you‘ll find the trade position calls and surrounding reasoning regarding gold whenever required.

Enjoy today‘s gold analysis – it‘s the second half of it as usually.

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Monica Kingsley
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4 thoughts on “PMs Again Under Pressure”

  1. Thank you LordSven! The shape of the correction is being decided still. On one hand, I see the (tech, other) heavyweights as vulnerable, and money allocation moves towards less hot S&P 500 sectors as wise, on the other hand I see IWM as holding up really fine, and EEM including its bonds as more pressured. SPX is in the middle, just where I would look for it to be in a corrective move – and we're in one, as I havent talked the shallow correction theme for quite a few days. I didn’t like the weak finish to Fri session across the board, but stimulus cleared the House hurdle after the market close. It might lead to a more positive runup to Mon US session. Not holding my breath, Fri didn’t have the many hallmarks of a reversal. As always, the market will show us its preferred reaction to e.g. the TLT turn, which is more likely than not to be positive for stocks (see the 10-year yield retreating to 1.44%).

  2. Good evening Monica,

    Firstly, thank you for your highly knowledgeable, insightful and clear analyses on the site.
    Secondly, and simply, where do you think to from here given today's (Fri 26th Feb) close.

    Have a great weekend!

  3. worried about the inv. h&s on gdx and countless gold related charts . eg goldfields which I am now looking at. If these patterns did work out, the downside targets are massive.

    1. Hi Rob. This is more often than not the case with H&S patterns – they are not the most reliable ones, highly judgemental at times, and their targets are more often than not far away, which makes them a not fully reliable trading proposition when a long enough time (trade) series is taken. I rather look at what is driving individual moves – which asset classes influence it the most at a given time? Where to look for so as to get most precise information? With gold and gold miners (they still trade quite tightly together), it's the Treasury yields on the long end.

      As I wrote in today's precious metals report, despite the new 2021 lows in TLT, gold isn't amplifying the pressure – it's trading well above the $1,770 level, and enjoys a stronger session today than silver. Look at the gold – TLT evolving relationship, as that's the key determinant right now. The post-Nov dynamic speaks in gold's favor – under the surface. Don't underestimate the Fed either. Full details in today's Gold Trading Signals.

      PS Sorry for not being able to answer your question earlier – first, I make sure the daily reports get out to everyone.

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