Rick Bensignor – Market Analysis and Trading Strategies For Gold, Gold Equities, Oil and US Markets
Rick Bensignor, President of Bensignor Investment Strategies joins us to share his trading strategies and outlook for oil, gold, gold stocks and key sectors within the US markets.
Rick is one of our most accurate market commentators. He has multiple investment letters, depending on your investing time frame, all of which staying diversified in the sectors that are in up trends.
Since commodities have been in some of the strongest up trends since March we focus on the levels Rick is watching on the upside and downside. There are some other sectors within the markets that Rick notes he is invested in.
Click here to visit the In The Know Trader website to learn more about his investment letters.
Month DBC non-confirmation…still…so still no verification of gold forever hyperinflation run….https://tos.mx/gQZIF4c
Those confirmations are coming but there still won’t be a hyperinflation anytime soon. Michael Oliver is right to put place importance on this XAU:Gold chart as well as other ratio charts like Gold:SPX and Silver:Gold…
https://s43022.pcdn.co/wp-content/uploads/2024/04/King-World-News-Oliver-I-4222024.jpg
I am glad you saw that and responded Matthew….When I look at GDX I see profit taking due to the day ABCD down which is also weekly support of Oscillator Unchanged line plus 9/14ema cross above….and I do believe that gold will at least test the recent high volume high….I think the correction flops around until late May from time symmetry…Matthew I remain concerned about deflation first beginning later this year then latter hyperinflation scenario…But GDX etc…can run far from this next low…no doubt…glta
week GDX chart….https://tos.mx/YycvDJW
Flopping around until late May would surprise me, I have to admit, especially the miners. I don’t think gold will make a new high before late May but I think it will find a low before then.
Silver is down a hard 5%+ today yet the silver miners are generally down much less which is a rare show of strength. Under most conditions they would be down 2-3 times as much.
For example my EXK vs SLV:
https://stockcharts.com/h-sc/ui?s=EXK%3ASLV&p=D&yr=1&mn=1&dy=0&id=p51275110734&a=1661132978
My 2 cents worth is, I have never seen silver this strong, I find myself saying that to wifey many times in the last few weeks.
Matthew I’d add that there’s also very low volumes….at least in the ones I follow.
I agree, Dan, silver’s entered a new paradigm.
Good and bullish point Wolfster. This is the first intermediate move since 2020 that I will be buying/averaging UP.
XME month…Same reality…non-confirmation of /GC hyperinflation, yet……..https://tos.mx/HN5hB2F
I like this monthly Gold vs SPX chart (which won’t be perfectly accurate until later today when the gold part of it updates to include today’s action). Hopefully it will close this month above its March ’23 close but there’s not much time left…
https://stockcharts.com/h-sc/ui?s=%24GOLD%3A%24SPX&p=M&yr=12&mn=0&dy=0&id=t0962872651c&a=1660321029&r=1713804294669&cmd=print
Daily (again, the chart will look different when gold shows today’s action):
https://stockcharts.com/h-sc/ui?s=%24GOLD%3A%24SPX&p=D&yr=1&mn=5&dy=0&id=p78353418654&a=1661115173
Speed line resistance was finally cleared 13 months after it was first tested…
https://stockcharts.com/h-sc/ui?s=%24GOLD%3A%24SPX&p=W&yr=5&mn=6&dy=0&id=p61126319641&a=705700154
Gold is up big this month vs CPI – “Wage & Clerical Workers”
https://stockcharts.com/h-sc/ui?s=%24GOLD%3A%24%24CPIW&p=M&yr=15&mn=0&dy=0&id=p38975757783&a=1126079381&r=1713806887450&cmd=print
Deja Vu as a National Market Opportunity for the Street Investors…year 3.
Rick knows his stuff. Nice Sunday message thanks guys.