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Metals Nearing Critical Momentum For New Parabolic Rally

While the US stock market has rallied over the past 5+ weeks, Gold has stalled near $1730 to $1740.  We issued a research post suggesting the GREEN Fibonacci Price Amplitude Arc was acting as major resistance and once that level is breached, we expect a big upside move in Gold.  Currently, Gold has reached just above the Green Price Amplitude Arc and this week may be a critical moment for both Gold and Silver in terms of a momentum base.

Gold has continued to move high in a series of waves – moving higher, then stalling/basing, then attempting another move higher.  This recent base near $1740, after the deeper price rotation in February/March, confirms our 2018/2019 predictive modeling research suggesting that $1750 would be a key level in the near future.  Part of that research suggested once $1750 is breached, then a bigger upside move would take place targeting levels above $2400 – eventually targeting $3750.

April 25, 2020: Fibonacci Price Amplitude Arcs Predict Big Gold Breakout

GOLD FUTURES WEEKLY CHART

This consolidation after the COVID-19 event near $1750 is a very real confirmation for our researchers that the upside breakout move is about to happen.  How soon?  It could begin to break out next week of the following week?  How high could it go?  Our upside target is $2000 to $2100 initially – but Gold could rally to levels near $2400 on this next breakout move.

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SILVER FUTURES WEEKLY CHART

While Gold has been consolidating near $1740, Silver has exhibited an incredible upside price move after a very clear Flag/Pennant formation (highlighted in YELLOW on the chart below).  The current upside price rally in Silver appears as though it may breach the MAGENTA downward sloping trend-line and this breakout move may prompt a rally to levels near or above $21 over the next few weeks.

Eric Sprott is very excited about silver and miners. Also, he talks about the demand for physical delivery which is way out of whack and how something could finally give which would be metals go parabolic.

We’ve been suggesting that metals will transition into a moderate parabolic upside price trend as the global markets deal with concerns related to economic activity, debt, solvency, and continued operational issues.  For skilled technical traders, this setup in Metals may be a very good opportunity for skilled technical traders to establish hedging positions in ETFs or physical metals before the breakout really solidifies.

Concluding Thoughts:

Longer-term, we believe metals could continue to rally for quite a while, yet we understand skilled technical traders want to time entries to limit risks.  We believe skilled technical traders should consider hedging their portfolio with a moderate position in Metals/Miners at this time – allowing traders to trade the remaining portion of their portfolio in other sectors/stocks.

If the US/Global markets continue to struggle to move higher over the next 60 to 90+ days, metals/miners should continue to push higher – possibly entering a new parabolic upside price move.  The deep washout low in Silver was an incredible opportunity for skilled traders to jump into Silver miners and Silver ETFs at extremely low price levels.  Now, with Silver at $18.40, it’s time to start thinking about $21+ Silver and $2100+ Gold.

Now is the time to really tune up your trading and get ready for some really great trading opportunities.

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I offer trading signals for active traders, long-term passive investors, and wealth/asset managers.  Each of these services is driven by my own experience and my proprietary trading systems and modeling systems.  I have a small team of dedicated researchers and developers that do nothing but research and find trading signals for my members.  Our objective is to help you protect and grow your wealth.

Please take a moment to visit www.TheTechnicalTraders.com/tti to learn more about our passive long term investing signals, Also, get our swing trading signals here www.TheTechnicalTraders.com/ttt.  I can’t say it any better than this…  I want to help you create success while helping you protect and preserve your wealth – it’s that simple.

Chris Vermeulen
Chief Market Strategist
Founder of Technical Trader Ltd.

Mid-August Is A Critical Turning Point For US Stocks

Our cycle and predictive modeling solutions have been suggesting that Mid-August 2019 will likely prompt a major inflection point in the US stock markets and we have been attempting to warn our followers about this for months.  Our continued efforts to identify this big breakdown price move in term of timing and expected range have led us to believe the outcome could be at least a -10% to -13% downside price collapse – possibly larger.

Post 1: NEXT BULL AND BEAR MARKETS ARE NOW SET UP

Post 2: TECHNICALS SHOWS AUG/SEPT MARKET TOP PATTERN SHOULD FORM

Our research team now believes that August 19 (+/- 5 days) will likely be the critical price inflection point/price apex that we have been searching for.  Our cycle and other predictive modeling tools are suggesting that this date will become critical for the markets future price trends and current support/resistance levels.  We believe that some type of new event or price event will take place sometime between August 14 and August 19 and that this event will lead to a new bearish price trend setup to break current support levels as well as begin a downside price move that should attempt a minim of -10% to -13% before attempting to find support.

Volatility Index Signaling Selloff

This VIX Weekly chart highlights our expectations with regards future VIX activity and the initiation of the VIX SPIKE that will coincide with our expectations of a price collapse in the US stock market.  We believe the VIX level will continue to move moderately higher over the next two to three weeks before the August 19 date – possibly as high as 16 to 18.  We believe the VIX will begin the spike move from levels near 14 to 16 (just before August 19).

Transportation Index Underperforming = Bear Market

This TRAN weekly chart clearly shows the Pennant formation (BLUE LINES) and the critical price support channel (Upward sloping RED LINE) that we believe are critical to the future outcome of this breakdown price move setup happening on August 19, 2019.

First, the price must attempt to reach the Apex of the Pennant formation, then attempt a breakout/breakdown move.  We believe the breakdown move is the higher probability outcome of this Pennant formation based on technical and price pattern details.

Once the breakdown move begins, price support near the price channel (RED LINE) will become critical as a future support level.  If that level is broken, then we believe the TRAN may attempt to fall to levels near the middle of the Standard Deviation price channel range – near $4000.

Dow Jones Industrial Average At Inflection Point

This DIA Weekly chart shows a similar price pattern, although the Pennant formation is a bit harder to see.  The Pennant formation on this DIA chart is set up across the Double Top price level, near $269.50, and the upward sloping price channel line (RED LINE).  The 2018 deep price low sets up “leg 1” and we believe we have completed “leg 4” of this Pennant formation already.  This leads us to believe the Double Top formation in conjunction with our other research components suggests the markets are currently setting up for a sideways/rounded top formation over the next 20 to 30+ days before beginning a moderate breakdown price move headed into August 19, 2019.

We believe there is a strong possibility that the key psychological levels ($300 SPY, $3000 ES and $30k INDU) are likely to be breached throughout this Q2 earnings season.  We believe that key psychological price level may be the “trigger point” for an immediate price reversal and the beginning of the setup for our expected August 19 price collapse.

Trend and Trading Conclusion:

We urge traders to understand the risks that are currently prevalent in the markets as prices continue to trade near all-time highs.  Our suggestion would be to pull 40% to 60% off the top right now (or at least before early August) in preparation for this next price rotation.

Watch the US Dollar, Gold, Oil and the Transportation Index for signs of weakness that may erode price support before the August 19th date.

Be prepared for these incredible price swings before they happen and learn how you can identify and trade these fantastic trading opportunities in 2019, 2020, and beyond with our  Wealth Building & Global Financial Reset Newsletter.  You won’t want to miss this big move, folks.  As you can see from our research, everything has been setting up for this move for many months – most traders/investors have simply not been looking for it.

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I can tell you that huge moves are about to start unfolding not only in currencies, metals, or stocks but globally and some of these supercycles are going to last years. A gentleman by the name of Brad Matheny goes into great detail with his simple to understand charts and guide about this. His financial market research is one of a kind and a real eye-opener. 2020 Cycles – The Greatest Opportunity Of Your Lifetime

As a technical analysis and trader since 1997, I have been through a few bull/bear market cycles. I believe I have a good pulse on the market and timing key turning points for both short-term swing trading and long-term investment capital. The opportunities are massive/life-changing if handled properly.

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Chris Vermeulen – www.TheTechnicalTraders.com