Another strong bull move for gold another strong day for mining companies

Another massive up day for the mining sector with gold rising and silver rising on geopolitical instability.

 Gold filtering with 1530

While silver is holding around $36

Mining Stocks start popping: AXR +7.91%, FVI +7%, EDR +9.14%, GPR +3.04%

A quick update on mining companies (and some oil/services) that I have been following.  Today was one of those break out days for many stocks.  I am expecting some continued gains as silver / gold prices continue to creep up.

Great Panther Resources (TSX:GPR) - Setting up for a big move to the upside

A battle is being fought to stay above the 0 level on the MACD, another series on increasing positive ticks on the histogram is expected as silver / gold metal prices continue their uptrend.

Very interesting the Fib relationships with this impulse.  Even the Fib Fan matches up relatively well.

With The wave 2 prediction at 3.18 coming within 1 cent of the actual value, wave 3 prediction should be a good measure of future price target.

Below is the three highest probability targets for GPR.TO (Great Panther Resources)

Using these targets with the fib fan, possible paths can be predicted. 

Based on the website here: http://www.terminusa.com.ar/EWT/EWT.php
The above version is a Google docs based calculator soon to be available on marketscheming.blogspot.com

Is oil looking to make a run? Weekly Chart Analysis

Support looking like it might have been found last week at the 50 Moving week average, confirmation with another week to the upside would be a strong indicator of a momentum shift.

This momentum shift is occurring with the MACD trying to flatten out above the 0 level.  Typically long term momentum is dictated by the MACD line value +/-.

A momentum change is even more likely because the commodity is in oversold territory.   If, however, the slow stochatics stays below the 20 level for a couple of more weeks, strong sell pressure is likely going to occur.

A closer look at this past months reversal.

If the oil instabilities get worst (ie another oil producer cutting shipments) prices could get to 125 by summers end.

USD/CAD - Canadian Dollar Proves to be resilient as resistance came in at 0.989

Trend lines are drawn with Andrews pitchfolk.  The resistance at the 200 day moving average was fierce, with a 3 cent decline in 3 days a notable move in the FX.

The fundamentals of the CAD are phenomenal with exposure to commodities such as Oil, Gold, Silver, Potash, etc which has been booming for over a year with QE1,QELite, and QE2.  The markets have rallied on the passage of the austerity plan in Greece, which has reduced the possibility for a Greek default in the short term.  The true test of will come when the citizens feel the true gravity of the downsizing and taxation increases. 

ESSENTIAL ENERGY SERVICES LTD (ESN.TO): Breakout, 6%+ pop midday

Yesterday post on the high volume signal was apparently was dead on.  Check it out.

This breakout is by all measures over extended so a pull back tomorrow could happen but this should be considered confirmation of a trend change until proven guilty by a break below the 1.90-1.95 range.
This stock has just completed an acquisition of Technicoil which has led to a larger service offerings and larger client base. 

ESSENTIAL ENERGY SERVICES LTD (ESN.TO) Review: High volume June 29th, 2011

Resistance as expected on that trendline as well as the 200 MA.   However, today saw strong buying volume with oil surging.  Everything will depend on the Greek vote tomorrow, so expect volatility on open as I believe the vote will be held around 6:00am EST