AG Thorson | TalkMarkets | Page 9
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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Miners Are Maintaining Their Morning Gaps
Miners are maintaining their morning gaps, and I’m yet to see signs of reversing. Gold rallied to $1,297.90 and pulled back briefly. It looks like it will make an attempt on $1,300.
Gold Jumped To Fresh High
Gold prices formed a Doji yesterday, and had an opportunity to top.
GDX Descending Triangle
There is a descending triangle consolidation in GDX. Typically, this pattern is bearish, and prices break lower.
Miners Look Weak
Gold and Silver are holding up, but miners may be forecasting lower prices. If miners continue lower throughout the day, the opportunity for a sharp decline will increase substantially.
If Gold Starts The Week Running We Could See An Extension Beyond $1,300
The Dollar sold off, and metals rallied after Friday’s weak employment numbers. The April and March data was revised lower, adding fuel to gold’s rebound.
Lack Of Participation From Miners Denotes An Underlying Weakness
Gold and Silver jumped to fresh highs, but miners are lagging significantly; they should be up 3%+. The lack of participation in miners implies that the metal rally is running on fumes. I expect gold and silver to turn lower next week.
Gold And Silver Prices Refuse To Turn Lower
Gold and Silver prices refuse to turn lower. The next swing high in metals should be enough to form a top.
Metals And Miners Are Setup For Another Decline
Metals and Miners are setup for another decline, all they need a little push from the Bears. If prices fail to follow-through to the downside, we likely see more consolidation.
Gold Broke Higher From The Bullish Pennant
Gold daily prices broke higher from the bullish pennant. A top is likely between Tuesday and Friday of next week. Prices should then break this trendline before reaching a 6-Month cycle low.
The Bearish Forces In Metals And Miners May Return
The dollar is yet to form a swing low, but I think prices are close to bottoming…if they haven’t already. Oil sold off sharply after the OPEC decision. Precious metals and miners need to do a little more work before confirming tops.
Which Metal Should We Follow?
Gold has not met the standard conditions to form a 6-month low; silver has. Which metal should we follow?
The Rebound In Precious Metals And Miners May Be Over
There were moderate signs of topping today in precious metals and miners. Gold got an extra boost yesterday with the impeachment rumor concerning President Trump. Markets overreacted…as usual.
DUST And JDST Have Fallen To The Maximum Retracement Levels
DUST and JDST have fallen to the maximum retracement levels for a traditional pullback. Risk tolerant and nimble traders may try to pick a bottom here.
Gold Confirmed The Third Daily Cycle
Gold finally confirmed the third daily cycle. Prices are nearing resistance. Miners are slowing, and the rebound may be over. Nonetheless, closing above Monday’s highs could extend the rally.
Miners Are Displaying Initial Signs Of Weakness
Miners are displaying initial signs of weakness, but I’m not convinced prices have topped. This part of the cycle can be tricky.
The Odds Favor Lower Prices For Metals And Miners In June
Miners have met the minimum obligation for a rebound while gold and silver have not. Gold needs a daily close above the 10-day EMA ($1,234) to register as a bounce.
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