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I produced this video on the gold and silver mining sector last night, and as of this morning gold is up significantly and all of the mining stocks continue to follow through. Gold (see chart above) just broke above horizontal resistance and is now looking to break up from the August downtrend channel. A move above $1495 would resume the uptrend from 4Q18, where channel support recently held. As presented in early November, I continue to believe this is a Wave 4 of 5, and that we will retest the highs at $1560-$1580. A close above $1495 would confirm it.
$GDX $GDXJ $ABX $NEM $XME $WPM $GOLD.V
In this video, I analyze the Bitcoin chart. Opinions on bitcoin tend to be very polarized; some believe bitcoin will rise to over $100,000 per coin, or even a million dollars. Others believe bitcoin is head for zero and into the dustbin of history. In this video I try to take a balanced view and simply look at the long term chart and where price is trending. I overlay this chart with Fibonacci and Elliott Wave analysis to arrive at the conclusion that bitcoin is still very much in a long term uptrend.
What do you think? We'd love to hear your feedback.
In this video, I analyze the S&P500 chart, which is now meeting up with 20-year long term resistance and the upper bound of its year long channel, but is also breaking out above the 261.8% Fibonacci extension from the 2007 peak to the 2009 bottom in equities. My short term view is bearish, as I think overhead resistance is stout and the RSI is overbought. However, longer term, the break above the 261.8% extension is significant and supportive of higher equity prices in the coming months.
Picking up from last week’s video, I wanted to do a deep dive into gold, particularly because there is a diversity of opinions regarding whether we break down from here or we make another leg higher. In this video, I address a recent chart from JC Parets at All Star Charts and my opinion regarding his analysis in the short term.
The big question is whether gold has completed a fifth wave from the $1170 low (setting up and A-B-C correction), or whether the recent high was only wave 3, setting up a fifth wave higher. I am of the latter opinion.
As always, we would love to hear your feedback whether you agree or disagree.
In this week's video I take a look at the charts of gold, silver, platinum, palladium, and copper and offer some thoughts on where I see prices moving next. In the case of gold, which has enjoyed a fantastic run-up from $1180 to $1570 this year (in the process breaking out of a six year base), price is pulling back and bull flagging at the 61.8% Fibonacci retracement. Does it make a push down to $1400 to backtest the entire move? Will silver find support at $16.60 or are we moving lower? Will palladium continue its historic march hire, or will it meet resistance at future levels?
I discuss all this and more in today's ten minute video. As always, whether you agree or disagree with my analysis, I would love to hear your feedback.
Over the last two years, Texas Precious Metals has developed a corporate partnership with UPS for the delivery (and insurance) of high dollar packages. This partnership has been industry leading, and to this day we remain the only precious metals dealer that guarantees shipment no later than 3 business days from receipt of payment, and the only dealer that ships exclusively via overnight delivery.
Texas Precious Metals is proud of the history and heritage of our sleepy, little town - Shiner, Texas. The rich Czech and German cultures add to the charm of this small dot on the map. What many of our clients know about this town, is that it is also the home of Spoetzl Brewery—maker of Shiner Beer (located almost directly across the street from our office in fact). Many of our clients that come to our offices to pick up their order, do so in order to grab some Shiner Bock or Premium while in town (and possibly catch some polka band music as well). Shiner Brewery is expanding nationally (shipping now to New York) and has produced this commercial which highlights the town of Shiner.
Dear TexMetals family,
We are very proud to present you a short video on our company.
One of the most common concerns voiced from prospective clients is the question of company credibility. It is only logical given the nature of our products, our industry, and the large sums of money transacted on a daily basis. Local clients in South Texas have the distinct advantage of being able to visit our offices, meet the staff, and become comfortable with the people with whom they will conduct business. For everyone else, especially first timers living far from our offices, that first order can seem like a leap of faith with a faceless internet company.