As #Oil collapses, it's taking the #Loonie down

“Black gold” is now testing the 50% Fibonacci retracement of its entire
Q2 rally at 52.30, but if that level gives way, a continuation down
toward the 61.8% retracement near the psychologically-significant $50
level could be next.



MasterMetals: #Dollar/ #Loonie may have a date with six-year hig...:   Dollar/Loonie may have a date with six-year high as crude’s collapse continues          Global traders remain hyper-focused on the ...

#Silver has now Crossed the 100 & 200-day moving average on the way to US$ 20/oz

 

Silver has now crossed the 100 and 200-day moving average and the next target would be the 400-day moving average around US$ 20 per ounce. The Point&Figure chart above shows a triangle formation just about breaking out on the upside.

 

Chinese stock market (H - Hongkong shares) - Ready to leave a more than 3-year sideways pattern on the upside

Chinese stocks are still lagging behind other major economies

 Source: Short Side of Long

 

#Gold indices rising sharply $HUI $XGD.TO $GLD

 

 

Gold shares had another good day yesterday.

The HUI Gold Bugs Index rose 8% to 194.33 and is approaching the 200-day moving average at 208.27. The S&P/TSX (Toronto) Global Gold Index ETF (symbol XGD) CAD 10.85 (+4.7%) is trading already at the 200-day moving. This index is up around 20% from year-end. The gold spot price is approaching (US$ 1,242 per ounce) is also approaching the 200-day moving average at US$ 1,256 per ounce.

I remind you that gold shares are rallying from a very depressed and oversold level, so strong advances as we witness right now are nothing

unusual.

2015 could  be turning year for precious metals. So the timing is everyting. Stay tuned.

MasterMetals: #Gold indices rising sharply $HUI $XGD.TO $GLD



The MasterMetals Blog

@MasterMetals