Metals Update 1/3/16

While there is a lot of geometric, Ewave and other technical analysis pointing to a potential intermediate low in the making for metals and miners, there is no certitude with anything in the markets. If the patterns and projects begin breaking down and failing, I will be running for cover. As noted several times, there are still nearby but lower projections that have not been hit. Posted below are a few charts annotated with analysis that shows where support may come in if the recent lows get taken out. Specifically, there is a pretty significant confluence for silver in the 13.10 to 13.40 area and for gold in the 1010 to 1018 area.

Also shown on one of the charts is some timing analysis with projections for possible lows around 1/5/16 +/- 2 trading days, assuming cycles are working in the markets. Hopefully the federal reserve and central bank game of whack a mole with gold and silver is coming to an end soon. Price is holding up inside the patterns and long-term trendline in silver, so far, and cycles should bottom and turn up in the next few trading days. If not heading north by mid Jan, I would assume cycles aren't engaged.

The long-term trendlines are still holding on some of the miners mentioned several weeks back. When I get some time I'll post some charts with that analysis.

Kim Rice 1/3/16