AG Thorson | TalkMarkets | Page 8
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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Gold Cycle: Failed To Regain The $1,300 Level
Gold failed to regain the $1,300 level successfully. Consequently, the odds favor an extended decline into the October 6th – 10th timeframe.
Metal Sector Fake-Out
It’s been one fake-out after another in the precious metal sector. Investors have been awaiting a major breakout in gold once prices climbed above $1,300. Friday’s rally reached $1,306.90 and promptly reversed, potentially creating a bull trap.
Metals And Miners Show Signs Of Topping
Metals and Miners showed signs of topping after Friday’s employment report. Weekly dollar prices spiked down to the 200-week MA and reversed. If the dollar finally bottomed, we should see a 4-8 week recovery.
Precious Metals And Miners: Further Decline
Precious metals and miners are expected to decline for several more weeks before reaching the 6-Month low.
Miners Formed Bullish Engulfing Candles
Miners formed bullish engulfing candles yesterday, and they could be attempting to bounce. Closing above yesterday’s highs will confirm that a short-term rebound has begun.
Metals And Miners Are Bouncing
Metals and Miners are bouncing as the dollar finishes what appears to be a small inverse head and shoulder bottoming pattern. If our analysis is correct, the rebound in precious metals should end next week.
The Dollar Is Struggling To Break Free
Metals and Miners showed subtle signs of bouncing. Gold and Silver still need to secure closes above their 10-day EMA’s to confirm a bounce.
Metals And Miners Are Trading Higher
Miners formed swing lows, but gold and silver haven’t. Gold needs a daily close above $1,250 and silver above $16.50 to set swing lows.
Dollar Finally Closed Above The Short-Term Trendline
After a 4-week bottoming process the dollar finally closed above the short-term trendline. Metals and Miners should be closing in on daily cycle lows.
Is A Gold Bull Market On The Cards?
The multi-year correction is similar to the 1986 and 2002 breakouts. It has been 301-weeks since the $1923.70 8-Year cycle high. We could see this 6-Month cycle retrace between 50% and 62% before bottoming.
Trading Is Usually Tricky At The End Of A 6-Month Cycle.
The last three weeks were challenging as the intermediate gold cycle expanded into a double top. Metals and Miners should work their way lower over the coming weeks.
Breakdown Confirmed
Yesterday’s key reversal and today’s follow through strengthen our primary outlook. Metals and Miners should work their way down into the much anticipated and 6-Month cycle low.
The HUI-GOLD Ratio Is Coming To A Head
A break from the pattern will determine which gold cycle to follow. We should see a decisive break soon.
Market Volatility Uptick
Stocks swung wildly on Friday. Prices fell to and held the 242 level. A rally to 246+ is still expected. However, a daily close below 241 would challenge that outlook.
Gold And Silver Dropped Sharply
Gold and Silver dropped sharply this morning and stopped precisely at their 4-Hour trendlines. Each formed daily swing highs but they failed to close below their 10-day EMA’s.
Miners Exploded Higher From The 3-Week Consolidation
Miners exploded higher from the 3-week consolidation invalidating the bearish descending triangle. The huge volume gap higher resembles a recognition up day. How prices respond between now and Friday will either confirm or deny a breakout
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