Gold, Silver Buy Signals Now Setting Up

Week Ahead: Stocks, USD Gain, But Yields Signal Risk-Off Headwinds Upcoming

Gold, Silver Buy Signals Now Setting Up

www.investing.com/analysis/gold,-silver-buy-signals-now-setting-up-266958

Gold, Silver Buy Signals Now Setting Up

By Peter Brandt | Oct 04, 2015 12:52AM ET

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For the first time since the precious metals topped in 2011, both the Silver and Gold charts are constructing possible bottom configurations.

The monthly Gold chart displays the bear trend that began with the completion of a major descending triangle in April 2013.

Gold Monthly 2003-2015

The daily Gold chart displays a possible 10-week symmetrical triangle bottom. Of all the major classical chart patterns, the symmetrical triangle is the least reliable (by far). Yet, a completion of this pattern by a close over 1160 would be an indication that the major trend in Gold has turned up.

Gold Daily

As shown on the weekly graph, the decline in Silver from the 2011 high has been one for the textbooks. The decline has complied with the principles of classical charting as well as any other market in recent years.

Silver Weekly

The daily Silver chart is forming a classical H&S bottom pattern. A decisive close above 1550 would complete this bottom and indicate that the 4-1/2 year bear trend in Silver is over. Of course, a considerable period of time of further base building could occur before Silver enters another bull phase.

Silver Daily

Disclosure: The information in this post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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S&P 500 Futures	2,777.62	+34.12	+1.24%
S&P 500	2,775.60	+29.87	+1.09%
Nasdaq 100	7,055.18	+32.76	+0.47%
Dow 30	25,883.25	+443.86	+1.74%
SmallCap 2000	1,570.04	+21.35	+1.38%
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Crude Oil WTI	55.98	0.00	0.00%
Brent Oil	66.31	+1.74	+2.69%
Natural Gas	2.634	+0.061	+2.37%
Gold	1,324.75	+10.85	+0.83%
Silver	15.755	+0.227	+1.46%
Copper	2.816	+0.042	+1.51%
US Soybeans	907.62	+3.62	+0.40%
US Wheat	503.38	-3.62	-0.71%

SPDR S&P 500	277.37	+2.99	+1.09%
VelocityShares Daily 2x VIX Short Term linked to S	33.58	-2.06	-5.78%
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Direxion Daily Junior Gold Miners Bull 3X Shares	11.48	+0.64	+5.90%
VelocityShares 3x Inverse Natural Gas linked to S&	111.91	-5.86	-4.98%
ProShares Ultra VIX Short-Term Futures	46.4900	-2.3700	-4.85%
ProShares UltraPro QQQ	50.03	+0.59	+1.19%
VanEck Vectors Gold Miners	22.4300	+0.2900	+1.31%

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Gold, Silver Buy Signals Now Setting Up

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