Karpel’s Corner: Gold Bugs are Bullish, At Least in the Short Term

Welcome to Karpel’s Corner. This is where I throw out my thoughts on the markets and share some of my favorite strategies. I keep it market-focused, and never miss an opportunity to teach trading strategies and commentate on the latest trends affecting the financial markets. Hope you enjoy today’s post!

We talked about the Miners ($GDX) finally firming up and getting ready to challenge the $27.50 resistance level that has held for over 2 years. Gold bugs will also need the Bonds ($TLT) to start to break to the downside. A break below $115 on $TLT could be the short-term catalyst to get the Miners ($GDX) above $27.50.

Gold ($GLD) itself has resumed it’s upside move, not waiting for the miners. This move in the shinny metal could start to weigh on the Buck ($UUP), so keep an eye on both these markets.

Finally, taking a look at the AG markets ($DBC) looks like it is ready to firm, and an AG stock $ADM continues to run to the upside and has 9 on the long- and short-term Tradespoon ratings. A break above $50 could be a sign of better fortunes in the Grain markets.

See you next time at the Corner!