US equities remain moderately choppy. Meanwhile, the precious metals are moderately higher, Gold +$10, with Silver +0.5%. The miner ETF of GDX is currently -2.5% in the $37.90s.
GLD daily
SLV daily
GDX 60min
Summary
Gold/GLD: gold printed the $1888s, a rather strong rebound from yesterday’s $1848s. Gold bulls need a decisive re-take of psy’2K.
Silver/SLV: silver printed $24.58, from yesterday’s $23.60s. Old (SEVEN year resistance!) of the 21/20s is new core support. Absolutely m/t bullish, with next target of 35/37… which appears realistic within Q1 2021.
GDX: the miners are struggling, partly pinned back by the main market. Renewed upside to 39.40/40.00 is a basic target on the next up wave.
notable miner: GOLD
A third day lower, as the 200dma isn’t far away. I have to expect Buffett/Berkshire to add on any such weakness.
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Equities: sp’60min
S/t momentum remains on the low side, and we’re due a cyclical floor/turn. I’d accept s/t price structure is a bear flag, with red gap viable.