Swiss Franc, Gold, and Gold Mining Update

Transcription

1 Swiss Franc, Gold, and Gold Mining Update This is an Update on the Swiss Franc, Gold, and Gold Mining, outlining the current important juncture, so you will get an idea of what Intelligent Investing s new Metals, Miners, and Forex service is all about. After you sign up for only $59 per month, which you can do here, you will get my initial Overviews on Gold Mining, Canadian Dollar Futures, Silver (2 parts), the U.S. Dollar, Gold, Platinum, the Australian Dollar, Japanese Yen Futures, Silver Mining, the British Pound, Palladium, and the Swiss Franc, all recently published (and most with very-compelling, big-picture set-ups). You will then receive similar, upcoming overviews for Uranium/Uranium Miners and the Euro, among others. And you will also start to receive my daily and weekly updates straight to your inbox. To reiterate, the normal schedule is for several (3-4) Daily Reports during the week, usually Monday through Thursday, and a Weekend Report, which will usually be sent Saturday afternoons, but sometimes it will go out on Sunday. However, initially, I want to continue with the theme of covering each area extensively and across-the-board of many timeframes, as I have done with the rest of these overviews and updates. So I hope you don't mind all of the extra details and reports in this regard but as you will see, the attention to some of these areas is quite warranted, not just for the next few quarters or years, but potentially for the next decade or two. Huge runs should be ahead in some of these markets so I am watching them closely and will continue updating all of these areas as opportunities and important junctures arise. With that said, I am going to continue to do very extensive research and treat each area with the detail that it is due, but I will really put the focus on the areas where the best risk/reward profiles exist at several degrees of trend and where near-term turns appear imminent. In the meantime, as some of you know already, I am available to help with any fine-tuning and other research you might need, as I continue to explore all the different areas along the way. This is your product, so please always feel welcome to contact me at mpboysen@gmail.com 1 Page

2 Figure 1. Swiss Franc (Inverted) Monthly chart with Elliott Wave Count and Technical Indicators Swiss (inverted) looks excellent. Last month's outside bar, after the C-wave wedge to complete wave (2), is a very compelling development, given that it is also five up and now three down from this low. 2 Page

3 Figure 2. Swiss Franc (Inverted) Weekly chart with Elliott Wave Count and Technical Indicators On the Weekly chart, there are multiple momentum divergences as Swiss has held this support area for several years. There's ideal wave structure in an initial wave (1) up, and now wave (2) down is complete, as an expanded flat B wave went to a of wave A, and now a C-wave ending diagonal has yielded to five up and three down. MACD looks set to turn positive soon, post divergences. 3 Page

4 Figure 3. Swiss Franc (Inverted) Daily chart with Elliott Wave Count and Technical Indicators On the Daily chart, a clear impulse to the upside has yielded to a clearly-corrective decline that approached.5 support today and it may take one more push just below today's low to finish a complex correction but this second-wave dip may be complete already..9988/91 is near-term support, followed by.9962/64. In terms of time, wave ii (circled) is now equal to wave i (circled) so this is a good time to look for resumption north again and any impulsive push past would be solid evidence that wave iii (circled) is getting underway. 4 Page

5 Figure 4. Gold Weekly chart with Elliott Wave Count and Technical Indicators In Gold, wave 1 took a full 6 months and wave 2 is just now getting into the middle of its second month so a few weeks out should be about the minimum time expectation for this decline. Momentum is relieving the overboughts nicely but sentiment still has a ways to go and as discussed over the weekend, this will either translate into a stiff decline at least to 1250 or so, if not 1228, or this decline will turn more complex once this c (circled) wave is complete. 5 Page

6 Figure 5. Gold Daily chart with Elliott Wave Count and Technical Indicators On the Daily chart, MACD has turned solidly negative now, post divergences and this decline is clearly impulsive and it should have further to travel. 6 Page

7 Figure 6. Gold 2-Hourly chart with Elliott Wave Count and Technical Indicators For the near-term count, the count shown still has a chance of being the operative one, given that there is only three down so far and it would be ideal for adding to positions soon, but any break of 1285 would not be in keeping with this count and would argue for further immediate losses toward , with good potential down to equality at If wave (ii) is still underway a shown, a quick impulse into should occur next, before further losses in waves (iii)-(v) in wave c (circled). 7 Page

8 Figure 7. XAU Index Weekly chart with Elliott Wave Count and Technical Indicators The XAU Index got rejected again at the channels off the highs of wave (1) up, so with that triple-three corrective rebound from September that is countable as shown, there's still a good shot at new lows to finish wave (2). Momentum is just now starting to roll over. 8 Page

9 Figure 8. XAU Index Daily chart with Elliott Wave Count and Technical Indicators On a Daily basis, five down and three up has taken shape of late, amidst momentum divergences, and now the three up is close to being left on the charts while momentum has turned solidly lower. Yesterday was the first close back below the operative channel drawn across the two x (circled) waves, as well as the corrective channel in wave ii (circled). Juniors have already left that three up in wave b (circled) or ii (circled) on the charts. 9 Page

10 Figure 9. GDXJ vs. GDX Daily chart with Elliott Wave Count and Technical Indicators Relative action in Juniors vs. Seniors and Juniors vs. GLD remains quite bearish. I stepped back from the Hourly to the Daily on this chart as this has turned out to be a larger top than just on a near-term basis. This very impulsive drop underway now is occurring on very strong momentum after those divergences, and even on a weekly basis, MACD is turning negative again and other momentum measures are pointed strongly south at this point so Juniors continue to lead the way lower right now for the whole Metals and Mining complex. 10 Page

11 Figure 10. Palladium Daily chart with Elliott Wave Count and Technical Indicators Palladium s fourth-wave rebound has been vigorous but it s corrective and it is into stiff resistance now, which includes the previous fourth wave within three down, so the next big move should be new lows as shown to finish an initial, five-wave decline. A second-wave rebound should ensue, followed by a waterfall decline in wave Page

12 Regards, Michael Boysen P.S.: If you like my work, don t forget to sign-up, for only $59/month, which you can do here. 2019, Intelligent Investing, LLC. This copyrighted daily periodical is published on most stock market trading days by Intelligent Investing, LLC, and is intended solely for use by designated recipients. No reproduction, retransmission, or other use of the information or images is authorized. Legitimate news media may quote representative passages, in context and with full attribution, for the purpose of reporting on our opinions. Analysis is derived from data believed to be accurate, but such accuracy or completeness cannot be guaranteed. It should not be assumed that such analysis, past or future, will be profitable or will equal past performance or guarantee future performance or trends. All trading and investment decisions are the sole responsibility of the reader. Inclusion of our information for trading and investing are the sole responsibility of the reader and cannot be construed as any type of recommendation, nor solicitation. 12 Page