[music]
>> Hey guys, Lawton here with Verified
Investing back with another ProCharts
video. And in this video, gold may be
breaking out, guys. Absolutely beautiful
push here on gold. Let me go ahead and
share my screen and charts, and we'll
hop right into it. So, you can see gold
coming down into these couple of these
down-sloping trend lines, hitting this
pivot up here from all-time highs to
this high here, these pivots here. And
look at this beautiful breakout. We had
a pretty textbook
bull flag here. Move up, sideways
consolidation, pushing up.
4,500 on gold today. Great
move up.
Now,
the question is, we broke above this
consolidation, where does gold go next?
For me, a couple levels of resistance of
are, of course, right here, right? 4,500
dollars, nice uh number for the brain.
But, all this sideways chop and
consolidation.
Additionally, above that, guys, I'm
looking at or around here, 4,700 bucks
for next levels of resistance. All this
other sideways consolidation should
provide some good resistance, followed
by this nice pivot high. And then,
ultimately, we know that this is going
to be an incredibly large level of
resistance.
$5,000
psychological level, previous high, um
just a whole lot of resistance there on
gold. Now, that doesn't mean that gold
is going to come back, going to fall to
like $3,000. No, we're actually on
breakout alert. The Now, the question
isn't whether or not we broke up, it's
do we retrace first, do we push higher?
And when we push higher, how high will
this ultimately
end up going.
Now, looking at silver here, silver is
similar story breaking out. Was already
breaking out of this down sloping trend
line, so it's not exactly the same, but
had a great move today and is also bull
flagging. I think that on silver at
least if we can get up and above this
key pivot high around $67,
I think we can easily reach the $70
level there on silver which should
provide some decent resistance. Why?
Because we saw we popped up off of it,
came back, bounced off of it. Same thing
here, traded in and around it here, and
again right here. So, this $70 level is
going to be extremely key here on
silver.
But, should we break above the $67, head
towards that $70, then you can start
potentially looking higher for
additional levels of resistance here
on silver, but you know, silver kind of
just mirroring this move on gold. So, so
far,
>> [clears throat]
>> so good.
Next one right here, we're going to do
palladium. Now, palladium, unlike the
other
um
the other metals was kind of looking
bearish to me. Right, the other ones
were bull flagging, breaking out of down
sloping trend lines. This one is trading
above and along this nice up sloping
trend line. I just want to be careful
here on palladium. Should palladium
break this up sloping trend line, we
potentially could be looking at an
additional fall maybe down to the $1,200
level. We'll have to see though um how
this ends up going
on palladium.
Next one is platinum and unlike
palladium, this mirrors gold, it mirrors
silver in that you have this beautiful
down sloping trend line had a break up
was kind of bull flagging textbook and
boom, look at the explosion on platinum
moving right there just alongside
of gold.
Now moving forward a couple levels of a
resistance coming up 1827
that was the highest pivot, the highest
point we've gotten in the last few
months.
After that, it's $2,000. It's a key
psychological level
whole round number
and you know, we can see all the price
action that has happened in and around
previously on this key $2,000 level.
So this is the level that I'm watching
on palladium also, you know, also on
breakout alert and if we can push up and
over this I anticipate
potentially
a move up closer to that $2,200 level,
but we need to see if we can get past
that 2K level first.
All right.
>> [clears throat and cough]
>> Next one I'm going to talk about is CL
um we're going to talk about crude oil
futures.
And crude oil
looks to be breaking up and out of an
inverse head and shoulders pattern.
And [clears throat] you guys are able to
see
very clearly um where I'm drawing this
this pattern from.
Right, the way I'm I'm drawing it is
from this is the neckline
shoulder, head, shoulder that measured
move would be a move up to around $95
here on oil.
Um
just something to keep on your radars
here.
Next one is natural gas. Natural gas,
something similar potentially, right? Uh
also had a very nice inverse head and
shoulders. Shoulder, head, shoulder,
potential breakout, you know, kind of
retrace, fell back into that level.
Unfortunately, not able to push too much
higher there.
Um
but that measured move already went
ahead and did that for you guys there.
The measured move would be a move up to
$3. Not only is that a
key psychological level there on um
natural gas, it is also that measured
move all the way up to um that level.
[clears throat]
And finally, we're going to talk about
uranium. So, we're going to look at URA,
something that I haven't talked to
talked about in quite a while. Kind of
been neglected and not as hot
as nuclear has kind of died
[clears throat] down a bit.
For me on URA, the levels that I'm
watching are this potential formation of
an inverse head and shoulders. Uh the
right shoulder not quite totally formed
yet, but you can see that this pattern
is massive, right? You're talking about
a measured move up.
Let's go ahead and see.
This measured move, should we break out
of this, would be up to around $55.50,
$55.60.
Um
absolutely key key levels to watch
there. But, you know, let's say it
breaks out. Well, where is it likely to
find resistance? For me, a couple
levels, previous high pivot over here
around 42
49, 42 rather. And there's a nice gap
fill here around 53 bucks and 42 cents.
So, just two key levels to keep on your
radar as uranium looks to potentially
break up and out of this level here um
in the next coming days.
With that being said said guys, that's
all I have for you today. My name again
is Lawton Hope here at Verifund
Investing. Thank you guys so much for
tuning in. Make sure to like this video.
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right, with that being said, I hope you
have a great rest of your day and we'll
see you in the next one. Bye, guys.