Jim Hunter

Gold & Uranium Gold doesn't break down anymore from here unless the entire market suffers from a meaningful headline. We all know it could happen, and many would argue that's it's "due" If that happened, gold's Weekly 200EMA is the target -- call it ~$3500 by the time it likely happened which corresponds with horizontal price support as well. A quick flush resulting in an even quicker rebound from what would mark a definitive pivot low for the next rally higher. Anything is possible, so could it dip a little below the 200? Sure, but the 200 is what you mark to buy. Should that happened, I'd leverage my life to this point to buy. Whatever I had to do to raise more capital, I'd do it to buy that moment in time. Right now though, we have some double bottom potential correcting from the $5600 high. Rather than a double bottom, this could also simply serve as the basis of a new consolidation channel where we grind within a $600 (4K to 4.6K) range possibly setting up a new breakout to occur within ~6 months. I see two near term (current) bullish options, and one short term bearish. All three views equate to long term bullishness. The only question is when to buy more. I don't personally see a problem, one way or the other. Regardless of what happens next, bulls are back into an accumulation zone with a notable variable to consider. I think the downside variable is much more important to view from the lens of time than price, though. That's because the downside variable in my opinion would be quick and aggressive rather than long and drawn out. This is exactly the type of moment when conviction is tested. In Uranium I'd watch flagships like Cameco and see if they test the ~$65 to $70 range, otherwise without the aforementioned market mayhem it's a good time to start accumulating new shares in this sector as well. I see the same sort of reading here, where you're at a good spot to buy (all things being equal) with broader market fear being what is or may be holding you back a little longer. I think uranium stocks will track gold stocks pretty well from here once again (they have a strong history of synchronicity in key moments especially since 2020). Silver follows gold so there's nothing to add. If you're buying gold you're buying silver too and we know what we need to know about gold.