Blog Archives

GLD Looks like a Buy above 151

The GLD ETF looks like a buy above 151.  The gold price has been quietly consolidating in sideways fashion the last month or so and all things considered has not undergone significant price destruction.

The GLD appears to be in a coiled state right now and ideally would start to lift off tomorrow out of the current resistance zone and out of this small triangle.

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Posted in Commodity ETF, Gold Market
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SLV Obeys Top Resistance Channel Line

The SLV looks like it has obeyed the top channel broadening wedge resistance line and has since strongly reacted down off of it on very heavy volume.

This top channel line was known in existence for a long time and was pointed out here many times at BestOnlineTrades.com. 

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Posted in Commodity ETF
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BestOnlineTrades Nails the Turn in the SLV ETF

I sent out an email to BestOnlineTrades Letter Subscribers (the green form at the top of this site) yesterday on how I thought that the SLV was a short term long setup and buy for 1 to several days based on the recent 1 day washout.

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Posted in Commodity ETF
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Silver ETF May Have Topped Today

I think it is possible the SLV ETF may have topped today.  If not today then it has a high probability of topping tomorrow if it happens to trade between 47 and 50 range.  Anything between 47 and 50 tomorrow, if it occurs, would be ideal selling juncture if entry was much lower. 

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Posted in Commodity ETF
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Silver ETF SLV Deep Into RSI Powerzone

The SLV ETF continues to trade in near vertical fashion well into the RSI ‘powerzone’.  RSI is near the 83 range and the SLV still pushes higher.  Anytime the RSI is so ‘high’ there is always the risk of a very sharp downward pullback.  So it is a bit of an art to figure out when something is close to topping out.

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Posted in Commodity ETF
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SLV ETF Continues to Power Higher along with Gold

Both silver and gold continue to blast higher.  I think it is an important point to observe that gold and silver are pushing major new highs while the stock market seems to be drifting a bit.  For the first time in a long time I am maybe starting to wonder if we will see them decouple here. 

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Posted in Commodity ETF, ETFS
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Gold is a Great Trend Buy Right Now

Today the Gold price finally got the job done.  The GLD was flirting with new all time highs for a whole month and teasing both the bears and the bulls.  With today’s very clear sign of strength, the GLD ETF and the DGP ETF is a very clear trend buy right now for more upside in the months ahead. 

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Posted in Commodities, Commodity ETF
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GLD ETF Pulls a Rabbit Out of the Hat

The gold price managed to pull a rabbit out of the hat today and blast higher, which structured the weekly MACD into bullish crossover mode.  As of yesterday there was a risk that the GLD ETF would not be able to achieve a bullish weekly crossover and that instead we would see a ‘bear kiss’ of the weekly trend which would have put the gold price at risk of a possible break down.

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Posted in Commodity ETF, Gold Market
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Is the SLV ETF Still a Good Long From Here

A comment poster wrote me and asked me if I thought the SLV ETF was a good long from the 37 level.  My response would be that one should be keenly aware that the SLV has already made a huge move from early February 2011 up until the present time frame. 

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Posted in Commodities, Commodity ETF
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No Top in Silver Yet

The silver SLV ETF continues to trade in a very strong manner.  The SLV ETF recently appears to have completed a classic Wyckoff retest on dramatically lower volume of the recent support range.  This is a very bullish sign and is not a time to think about shorting the SLV ETF in my opinion.

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Posted in Commodity ETF
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