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Precious Metals Trying to Break Free

Precious Metals

(This is an excerpt from the past weekend premium member report published last Friday morning the 19th)

 

Gold (NYMEX)

Perhaps we are finally involved in trade with a proper follow-through. Time will tell. The dominant chart construction in Gold is the completion of a 6-year inverted H&S bottom pattern wherein the right shoulder is a 3-year symmetrical triangle, as shown on the closing price chart.

 

 

This continuation H&S pattern can be seen as part of a historic bull trend as seen on the yearly line and monthly candlestick charts. This pattern has a target of 1800, although a retest of the ATH at 1920 is logical. A further P&F target exists at 2637.

 

 

 

The advance on Thursday completed a possible 3-week continuation pennant. If this is a half-mast pattern, the target is 1547, as shown with the grey arrows.  I am interested in buying a retest of the pennant if it occurs within the next couple of trading days.

 

 

Silver (NYMEX)

The advance this past week completed a possible 13- month “W” or double bottom on the weekly chart.

 

 

Platinum (NYMEX)

A 9-week horn bottom has been completed on the daily chart of the Oct futures contract.

 

 

 

 

Factor Membership

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Peter Brandt is a 40+ year veteran of trading. Through his Factor Service, members receive:

checkTrading Commodity Futures with Classical Chart Patterns: A free PDF copy of Peter’s classic out-of-print book
checkWeekend Update: 10-16 pages full of in-depth chart analysis and charting commentary
checkAlerts: Detailed information on specific charts as unique opportunities present themselves
checkMarket Commentaries: Communications on specific topics regarding market speculation and trading distributed periodically
checkWebinars: Monthly member-only webinars where Peter speaks about current conditions and fields member questions
checkKnowledge Center: Fast and easy access to current and archived content from Peter’s extensive library of content
checkAutomatic notifications: Email and social media notifications are sent out when new content is published

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View your Factor Member options here. You could consider your membership in the Factor Service as just one more trade. If the Factor Service is not of value to you, well, it is just one more trade that did not work.

Through the Factor Service I endeavor to alert novice and aspiring traders to the many pitfalls you will face – and to offer advice on overcoming those pitfalls. My goal is to shoot straight on what trading is all about. For more information watch my 30 minute webinar where we cover the Factor service in depth.

I hope you will consider joining the Factor community.

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Gold Possibility

The possibility continues to exist that Gold is forming a massive inverted H&S pattern on the monthly chart.

However, a close below 1180 would place the possibility of the H&S pattern into doubt. A close below 1124 would suggest a retest of the 2015 low at 1045.

 

Gold possibility - Peter Brandt - Factor Trading

Silver however completes another bear pennant.  The 2015 low of 1363 is now with spitting distance.

 

 

Factor Membership

.

Peter Brandt is a 40+ year veteran of trading. Through his Factor Service, members receive:

checkTrading Commodity Futures with Classical Chart Patterns: A free PDF copy of Peter’s classic out-of-print book
checkWeekend Update: 10-16 pages full of in-depth chart analysis and charting commentary
checkAlerts: Detailed information on specific charts as unique opportunities present themselves
checkMarket Commentaries: Communications on specific topics regarding market speculation and trading distributed periodically
checkWebinars: Monthly member-only webinars where Peter speaks about current conditions and fields member questions
checkKnowledge Center: Fast and easy access to current and archived content from Peter’s extensive library of content
checkAutomatic notifications: Email and social media notifications are sent out when new content is published

.

View your Factor Member options here. You could consider your membership in the Factor Service as just one more trade. If the Factor Service is not of value to you, well, it is just one more trade that did not work. Through the Factor Service I endeavor to alert novice and aspiring traders to the many pitfalls you will face – and to offer advice on overcoming those pitfalls. My goal is to shoot straight on what trading is all about. For more information watch my 30 minute webinar where we cover the Factor service in depth.

I hope you will consider joining the Factor community.

Factor Trading - An Introduction

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Gold Resistance

 

Gold’s massive H&S bottom continues to develop, but overhead resistance could be stiff.  The technical significance of the resistance in the 1350 to 1390 zone in Gold cannot be over- stated. This zone has contained rallies in Gold on five occasions (including the current rally), as shown on the weekly chart.

 

 

My bias is that Gold will rip through resistance to commence a new bull trend (see monthly chart).

 

Peter Brandt Gold Resistance

 

Nevertheless, I cannot ignore the possibility that Gold might turn down hard from the overhead resistance – a decline toward 1230 is possible. I will closely monitor Gold with an interest to be long – I may use the London PM Gold fix as a proxy for a breakout.

 

Peter Brandt Gold Resistance Dail

 

Peter Brandt Gold Resistance London Fix

 

 

Prior blog posts on Gold can be found here: https://www.peterlbrandt.com/2018-gold-outlook/

 

Factor Membership

.

Peter Brandt is a 40+ year veteran of trading. Through his Factor Service, members receive:

checkTrading Commodity Futures with Classical Chart Patterns: A free PDF copy of Peter’s classic out-of-print book
checkWeekend Update: 10-16 pages full of in-depth chart analysis and charting commentary
checkAlerts: Detailed information on specific charts as unique opportunities present themselves
checkMarket Commentaries: Communications on specific topics regarding market speculation and trading distributed periodically
checkWebinars: Monthly member-only webinars where Peter speaks about current conditions and fields member questions
checkKnowledge Center: Fast and easy access to current and archived content from Peter’s extensive library of content
checkAutomatic notifications: Email and social media notifications are sent out when new content is published

.

View your Factor Member options here. You could consider your membership in the Factor Service as just one more trade. If the Factor Service is not of value to you, well, it is just one more trade that did not work. Through the Factor Service I endeavor to alert novice and aspiring traders to the many pitfalls you will face – and to offer advice on overcoming those pitfalls. My goal is to shoot straight on what trading is all about. For more information watch my 30 minute webinar where we cover the Factor service in depth.

I hope you will consider joining the Factor community.

Factor Trading - An Introduction

.

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2018 Gold Outlook

2018 Gold Outlook

I believe there is a good chance that the precious metals will be an outstanding asset class in 2018 – Gold could outperform Bitcoin in the year ahead. The monthly Gold chart is shown to provide some historic perspective. Notice that the market is still finding its footing after the 2012 violation of its parabolic advance.

 

2018 Gold Outlook - Factor Trading - Peter Brandt

The weekly chart (RealRange) displays a possible massive inverted H&S pattern.  I am keenly interested in the long side of 2018 Gold futures. Factor is presently flat.
2018 Gold Outlook - Factor Trading - Peter Brandt

A chart courtesy of McClellan Financial indicates that Gold is advancing from 8-year cycle lows.

 

2018 Gold Cycles

Source: http://www.mcoscillator.com/learning_center/weekly_chart/golds_8-year_cycle/

 

Also shown are a number of graphs for Gold-related ETFs and gold mining companies.

 

 

Factor Membership

.

Peter Brandt is a 40+ year veteran of trading. Through his Factor Service, members receive:

checkTrading Commodity Futures with Classical Chart Patterns: A free PDF copy of Peter’s classic out-of-print book
checkWeekend Update: 10-16 pages full of in-depth chart analysis and charting commentary
checkAlerts: Detailed information on specific charts as unique opportunities present themselves
checkMarket Commentaries: Communications on specific topics regarding market speculation and trading distributed periodically
checkWebinars: Monthly member-only webinars where Peter speaks about current conditions and fields member questions
checkKnowledge Center: Fast and easy access to current and archived content from Peter’s extensive library of content
checkAutomatic notifications: Email and social media notifications are sent out when new content is published

.

View your Factor Member options here. You could consider your membership in the Factor Service as just one more trade. If the Factor Service is not of value to you, well, it is just one more trade that did not work. Through the Factor Service I endeavor to alert novice and aspiring traders to the many pitfalls you will face – and to offer advice on overcoming those pitfalls. My goal is to shoot straight on what trading is all about. For more information watch my 30 minute webinar where we cover the Factor service in depth.

I hope you will consider joining the Factor community.

Factor Trading - An Introduction

.

sig

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Possible Silver Targets

Next Possible Silver Targets

Next Possible Silver Targets

The advance in Silver is consolidating in the form of a rectangle. This consolidation could propel the market to its next Silver Target at 22.47, or lead to a retest of support at 18.00.

 

Possible next Silver Target - Peter Brandt - Factor Trading

 

For more information watch my 30 minute webinar where we cover the Factor service in depth.

I hope you will consider joining the Factor community.
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Has a new bull market in Gold begun?

 

Gold is the purest charting market of all. The Gold market always rings a bell at major turning points. Gold has been in a bear trend since the 2011. Well, guess what ...

Bell   Read More

Bottom in Precious Metals???

 

There are some signs that the 4-plus year bear trend in the precious metal markets is coming to an end

As I have pointed out always constantly, I hate trading Silver. Silver can move $1 one way or the other and mean nothing technically. Gold is a technically honest market, and usually the leader. All things being equal, I would much prefer to trade Gold rather than Silver. 2.3_GC_D Read More