Author: Aibek Burabayev

Freeport-McMoRan Could Be In Trouble As Copper Approaches A Decision Point

Posted on by Aibek Burabayev

Aibek Burabayev - INO.com Contributor - Metals


The background for the copper market is not brighter these days as the macroeconomic data of the top metal consumer - China points at the cooling economy. Asian traders stored up the metal at the start of this year, pushing the price above the $2 mark to a high of $2.3. Nowadays weakening demand puts pressure on copper prices as the Chinese currency hit a 6-year low against the dollar which makes the import more expensive.

Chart 1 Copper Weekly: Support Is At The Gunpoint

Weekly Copper Chart
Chart courtesy of tradingview.com

Copper’s price has been descending within an orange expanding downtrend for the past two years. The Contracting Triangle pattern (highlighted in blue) reflects the sideways structure of the market this year. Continue reading "Freeport-McMoRan Could Be In Trouble As Copper Approaches A Decision Point" →

Gold Bulls Have Last Fifty Bucks To Survive

Posted on by Aibek Burabayev

Aibek Burabayev - INO.com Contributor - Metals


The current situation in the precious metals markets very well illustrates how patience in trading can save money for the trader. It means that a trader who waits for the confirmation of the price action has an ample advantage compared to those who choose assumption mode entering the market without confirmation. In other words, the ‘trade what you see’ method is way safer than the ‘trade what you assume’ method. For many years in trading, again and again, I see how true the words said above, especially during market consolidations.

The corrective chart structures are unpredictable though very dangerous, especially for newcomers. As I wrote earlier such structure shows the market’s indecision with a lot of hesitant zigzags which have no clear ending point both in time and in the price level and therefore are risky. Continue reading "Gold Bulls Have Last Fifty Bucks To Survive" →

Mining Leaders Have More Room To The Downside

Posted on by Aibek Burabayev

Aibek Burabayev - INO.com Contributor - Metals


Back in August of this year, I shared with you the comparison charts of gold and silver stocks. The precious metals hit the new highs before that, and so did the mining stocks. After that, the prolonged correction of underlying assets (gold and silver) put pressure on the mining stocks. Below is the chart showing you the 6 stocks’ behavior.

Chart 1: Top Mining Stocks: The Leaders Lost The Most

Chart 1: Top Mining Stocks
Chart courtesy of tradingview.com

The 3 top gold stocks by past performance: Continue reading "Mining Leaders Have More Room To The Downside" →

Which Asset Is A Top Gainer? Silver? Bitcoin? Try again!

Posted on by Aibek Burabayev

Aibek Burabayev - INO.com Contributor - Metals


At the start of this year, I wrote about Bitcoin and its unrivaled blast-off dynamics compared to conventional assets for the Y2015. Of course, the main reason for this was the effect of the 'start-up.' In other words, if we get something useful and demanded out of 'nothing' or better say virtually it surely will show you the rocket dynamics on the chart.

Digitalization is in a full-scale offensive with the smart things coming more and more in our life. The word 'SMART' at the beginning of something new and technologically advanced from SMARTphones to SMART contracts is now a common thing.

Technology moves at a terrific speed these days and what was at the avant-garde of it a few years ago was Bitcoin; now it could be deemed as traditional or outdated. Today I would like to show you a brand new star of the market, which is called 'Ether.' Continue reading "Which Asset Is A Top Gainer? Silver? Bitcoin? Try again!" →

Stillwater Is Under Pressure As Platinum Can Lose One Digit

Posted on by Aibek Burabayev

Aibek Burabayev - INO.com Contributor - Metals


Chart 1. Platinum Monthly: Roller-Coaster

Platinum Monthly Chart
Chart courtesy of tradingview.com

Platinum booked an almost 50% gain from the bottom at $811 level in January 2016 to the top at $1194 level last month as falling crude oil spurred the demand for cars especially with large engines which in its turn lifted the demand for catalysts. As you can see, there is always a winner if there is a loser.

Those magical days for the metal are gone the same peak month in August, and the price painfully lost $150 from the top as the price was rejected by the upper side of the red multi-year downtrend. This month we can see that the market was trying to climb back to the upside as the candle has a long upper wick but failed to grasp the gains and slid down to the black vertical support. The price has started to drill it already, and it’s highly probable that we can witness the break this month. The break and close below $1020 would confirm the break. The next stop could be only at the June’s low at the $952 mark where the metal would lose one digit and will only have a 3-digit price. Continue reading "Stillwater Is Under Pressure As Platinum Can Lose One Digit" →