The Gold and Silver cycles continue to stretch, and prices are approaching their February peaks. To reach new highs, gold needs to surpass $1,265, and silver needs to break $18.55. Doing so could lead to a little more upside. Nevertheless, prices are 17-days into the current cycle, and momentum is fading. The cycles leading into this topped on day twenty (20). Therefore, the final top should arrive between now and Friday.

Miners will open higher this morning, but prices are expected to remain within the resistance boxes. Today’s close is important. Prices closing below today’s opening price would be a bearish signal for miners. Suggesting the next downleg is about to begin.

-GDX- Prices are expected to remain within the resistance box. Closing below today’s opening prices would be a bearish signal…implying the next downleg is about to begin.

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I will monitor prices throughout the day and update before the close.

I’m temporarily removing my stop on DUST and JDST this morning. I want to see what happens during the first hour of trading. If I don’t like what I see I’ll sell later today.