Gold and Silver Miners and the U.S Markets. Message Board

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Gold/Mining/Energy : Gold and Silver Miners and the U.S Markets.

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To: CurveBall86 who wrote (1814)	6/18/2014 1:14:59 PM
From: Robov	Read Replies (1) of 1954

The volatility will come right as the clock strikes 2:00 EST or milliseconds in advance. The price will fluctuate both up and down it will just be a matter of where it finally settles down and balances out that is in question. We all know here which it should balance out but the question is whether the forces of darkness will allow that. S & P is the strongest or holding up the best so far today. The Dow sold off heavy but is rally back quite strongly while the Nasdaq hovers just above the lower area of strong support. GDX has remained a little stronger than the GDXJ, but the GDXJ had a much bigger run than the GDX and is a lot closer to the H & S neckline than the GDX. IMO gold still has room to move up to the 1290 region where it will hit some heavy selling pressure as that was the area of the breakout down through the wedge and is just above the current location of the 50 and 200 DMA's which are neck in neck at 1284 and 1285 respectively. Buyers stepped in and bought up yesterday's attempted selloff printing a nice bullish doji hammer candle and have likewise bought up today's early selling so far. Generally though if history repeats gold usually get slammed initially on the FOMC release. Silver has been pretty strongly capped at its current level with its 100 DMA sitting just above $20 even. An $20 has been a very, very hard line in the sand going back to December 2013 with the brief exception of the rally up to $22 in February. It has not managed any substantial close above $20 since the end of March. It also has a shorter term trendline just below $20 with the longer term T/L at about 20.30 with the 200 DMA just above at 20.38 God is right up against it's shorter term T/L with the longer term sitting just above where the 50 and 200 MA's are.

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