AG Thorson | TalkMarkets | Page 11
Registered CMT, Technical Analyst
Contributor's Links: GoldPredict
AG Thorson is a registered CMT and expert in technical analysis. His regularly scheduled reports are released every Sunday, Tuesday, and Thursday. For more information, please visit GoldPredict.com.

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Dollar In Transistion
We are in the middle of the transition phase as the dollar bottoms and precious metals top. It’s hard to forecast the day-to-day price changes during this stage of the expansion. Nonetheless, it should wrap up sometime next week.
Metals And Miners Provided Subtle Clues Of Topping
Metals and miners provided subtle clues of topping today, but it is unclear if this rebound has ended. Follow through lower tomorrow would be a step in the right direction.
Markets Are Anticipating A Rate Hike
Tomorrow is Fed day. Metals and Miners near-term outlook hinges on their decision. The previous rate hikes supported prices after an initial drop. But, those rate hikes were 12-months apart. Therefore, it is unclear how metals will react.
Miners Rallied Nicely Further Endorsing Interim Lows
Miners rallied nicely yesterday, further endorsing interim lows. However, gold and silver are yet to establish proper swings and the potential for a decline after the Fed meeting remains.
Pivotal Week Ahead
Historically, gold has traded lower before each rate hike, and the technicals were oversold, and prices bottomed within a few days of the rate increase.
Miners Are Testing Yesterday’s Highs
GDX prices are testing yesterday’s high. A daily cycle low is likely if prices hold this level or better into the close.
We Are Closer To A Daily Cycle Bottom In Metals And Miners
Each day we inch closer to a daily cycle bottom in metals and miners. Prices are far enough from the recognition day that any close above the previous day’s high should signal the low.
Oil Reached A High
Oil reached a high of $53.80 today and prices should close for the fourth time below the 10-day EMA.
Miners Are Bouncing
Miners are bouncing a bit today, but it’s unclear if prices bottomed. Volatility is high. I’d wait for signs of a bottom before attempting short-term long positions.
Has Gold's Rally Finally Fizzled?
Gold and Silver formed Weekly Bearish Engulfing candles, supporting the possibility of a 6-Month cycle high. Prices would have to close above last week’s highs (weekly basis) to extend this cycle.
Precious Metals Are Finally Showing Signs Of Weakness
Precious metals are finally showing signs of weakness, and it looks like their daily cycles topped. They may be attempting to bottom with miners.
Silver Into Its Ninth Week Of Consecutive Rally
Topping is a process, and it’s rarely straightforward, especially in metals. As each piece of the puzzle slowly falls into place - price performance, technicals, money flows, investor sentiment, etc., an impression forms.
Is Gold Set To Turn Bearish Again?
Metals and Miners should earnestly begin their descent if March 2nd (give or take a day) is going to print the next cycle low. We have begun to see subtle signs of rollover but not enough to announce the correction officially.
Gold And Miners Remain Below Last Week’s Highs
Gold and Miners remain below last week’s highs, and the potential for a deeper correction remains. Gold continues to probe support around $1,220 and breaking below it could trigger a quick sell-off.
Is Silver Still Out-Performing Gold?
Silver made a new high on Friday, but gold is yet to confirm that move. Gold and Miners need to exceed Wednesday’s highs to continue this rally.
Gold Is Trying To Rally
GLD prices opened at the 10-day EMA and are trying to rally. Dropping back below the opening price would be a negative indication.
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