The Uranium spot price according to UXC.com is currently near 70 dollars per pound as of January 12, 2011. I check the price occasionally and have been thinking about this sector for quite some time now. I believe the uranium spot prices are updated every Monday but then released in delayed fashion by Tuesday or … Read more
There exists a possible buy trigger in the UNG ETF at 6.40 or higher. Natural gas futures have a nice 1 year consolidation pattern on the longer term chart and the recent multi week up move initiated itself after a very convincing looking monthly reversal hammer. I think it is possible that the mega bear … Read more
Copper futures look like they are about initiate some price action that could be the most significant since mid 2006. Copper futures are approaching a key long term resistance range near the 4.000 area. This range represents the top trading range level of an almost 5 year trading range. If copper futures manage to break … Read more
Most of the time when I write about the gold price it has to do with near term and intermediate term timing. Recently I indicated that gold needed to break out north out of its rising wedge formation in order to maintain a stronger bullish stance. This has clearly happened and gold continues to surge … Read more
The GLD ETF today closed above the large rising wedge I alluded to yesterday and did so on very robust volume. This was a very clear and powerful signal today for the GLD ETF and in my opinion now clears the way for much higher prices. The gold market is now telling us in no … Read more
The GLD ETF was only marginally higher today while the stock market had a very strong day. The GLD ETF finished with a daily reversal hammer and the volume today was surprisingly light. I did a post previously articulating some concern about the somewhat sluggish gold price uptrend in recent months. The sluggish gold price … Read more
I am becoming concerned about the gold price trend. On July 6, 2010 I did a very bearish post on the gold price on a more longer term basis. Since then I have oscillated back and forth from bullish to bearish since gold was able to evade the weekly bearish divergence MACD sell signal. But … Read more
The gold price and the SPDR Gold Trust (ETF) continues to be situated in a potentially pivotal position from both an intermediate term and long term basis. The question is whether bullish seasonal tendencies should be given more weight or the gold chart structure itself? The 34 year seasonal tendency especially from mid September onwards … Read more
The Semiconductor HOLDRs SMH ETF today confirmed an MACD Histogram buy signal. In previous posts I have been looking for yet another move in the broad market higher as a bounce from the bottom of the recent swing trading range. The other indices have as of yet not confirmed an MACD Histogram buy signal but … Read more
The SPDR Gold Trust (ETF) closed today above its previous major spike peak high of the 12/2/2009 and 12/3/2009 period. This is significant. Volume was seriously lacking the GLD ETF today however, but still we must give it credit for a solid close near the top of the range. The GLD ETF has now positioned … Read more