aibek burabayev Archives - Page 44 of 59

Copper Waits If Oil Keeps Upside; China Is In Focus

Posted on September 7, 2016September 7, 2016 by Aibek Burabayev

Chart 1. Crude Oil-Copper Correlation: Gap Widened

Chart courtesy of tradingview.com

Another attempt by oil to close above the psychologically important $50 level (black dashed horizontal line) has failed. This was the third and a good try, and it was after a good correction in July, which makes bulls nervous as they lose their patience. Copper couldn’t keep the correlation gains achieved in July as it didn’t follow the rising crude last month and on the contrary, it moved the opposite way below the $2.2 level. The gap between them widened.

It’s not all bad news. There are at least two positive factors: Continue reading "Copper Waits If Oil Keeps Upside; China Is In Focus" →

Let's Read The Coffee Grounds To Understand Gold

Posted on August 23, 2016August 23, 2016 by Aibek Burabayev

Sometimes we find a revelation in different things or places. Extending the range of our focus is quite helpful. From time to time I watch stock charts to find some interesting setups and to let my eyesight get a refreshing break from commodities and forex.

Last night I was browsing through some stock charts and my eyes caught a familiar structure on one of them. It was a chart of the iPath Bloomberg Coffee Subindex Total Return ETN (NYSE:JO). This instrument has a very interesting structure of complex correction on the chart. And today I would like to share with you an educational chart with a sample of a complex correction, which could take place in gold. It is better so see it once than to hear about it many times. Continue reading "Let's Read The Coffee Grounds To Understand Gold" →

Silver Miners Could Have Made You A Fortune

Posted on August 22, 2016 by Aibek Burabayev

At the start of this month, I shared with you the comparative dynamics of gold and gold stocks. I joked that the commodities traders could only envy the stock investors as the results of gold purchase were laughable compared to investing in stocks. And today I would love to show you an even more surprising results of silver stocks.

Part I. Comparison

Chart 1. Top Silver Stocks Vs. Silver: This Brilliant League Is Not For Metal

Chart courtesy of tradingview.com
The above chart has a high resolution and to see it in a full size; please click on the chart. It shows us the comparative dynamics of silver and the top silver stocks by market cap.

The 5 stocks are sorted by market cap: Continue reading "Silver Miners Could Have Made You A Fortune" →

Top Metals Smashed The Euro! Will It Hit Back?

Posted on August 13, 2016August 13, 2016 by Aibek Burabayev

I started to cover European gold at the beginning of this year when it was at the 1000 EUR level. In spring I added silver to the pack as it had an interesting setup on the chart. Today I would like to share with you an update of the charts and to show you the outcomes.

Let us start with a single currency chart and see if we can find some clues which could help us with the metal crosses charts.

Chart 1. EURUSD Monthly: RSI Calls For Higher High

Chart courtesy of tradingview.com

Now, after almost two months, the dust of BREXIT hysteria has settled. The euro has managed not just to survive, but to score more than 2 cents after it touched the $1.09 mark on the referendum selloff in June. Friedrich Nietzsche once said - "That which does not kill us makes us stronger." The light version of the chart above had been shown to you in May.

The euro is still sitting on the very important trendline (dark gray) and the similar price action was earlier when the price approached this trendline. I mean the same combination of lower highs amid higher lows. The RSI has the same divergence as in 2001. This time, we have a flatter downtrend (orange) and the RSI is still below its trendline unlike in the previous case.

There are three triggers which could help the euro to have a big against US dollar once they are broken: Continue reading "Top Metals Smashed The Euro! Will It Hit Back?" →

Gold Is At The Crossroads! Which Stock Is The Most Vulnerable?

Posted on August 6, 2016August 5, 2016 by Aibek Burabayev

Back in March in my major gold update I warned you that what was being billed as a New Bull Run could easily turn out to be a complex correction. In that post’s chart, I didn’t put the small Fibonacci retracement level at 38.2% as I was impressed with the strong move to the upside from the bottom and I thought it would be useless. These days the situation has changed and I put an updated chart below.

Chart 1. Gold Monthly: First Serious Resistance