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Resources in the Spotlight

Gold has had a good rise and it’s up against a strong resistance. In a Feb 27 Update, The Aden Forecast, says today’s decline seems to be saying that the C rise is nearing maturity (see the chart below). Gold is strong above $1315, but the longer it stays below last week’s high, the more likely an intermediate top is in the making. Gold could decline to $1275, and still be strong. But a break above the resistance would be very bullish! Palladium appears to be in a blow off top, and if so it could influence gold, silver and gold shares short term. Platinum has finally woken up from the dead, closing at its November highs today, while approaching its 65-week moving average. Is this telling up something about palladium? Mary Anne and Pamela Aden, co-editors of The Aden Forecast, www.adenforecast.com, advise their subscribers to keep their positions.

The resource sector is coming alive, say editors Mary Anne and Pamela Aden. Copper reached a new high for the move and the chart below shows it breaking its 65-week moving average. BHP is also at a high and HMM.TO is near its high. FCX and REMX are finally joining the group. Crude is also looking good. A rebound rise is in process and it’s strong above $52. Note on the chart below how closely copper and crude are moving with the Transportation average.

To view the full article along with the corresponding charts on the Gold, the Market Jumping Up, and Copper & Oil moving together visit the website at https://adenforecast.com

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