Gold - $2,000 Is Imminent
Updated
Good news for goldbugs: GC Gold futures is projected to take out $2,000.
Bad news for goldbugs: I still believe that both price action and fundamentals are short/medium-term bearish on gold and that this swing will amount to an exit pump before lower prices forecast in the below post are achieved.
Gold GC1 - Discard Greed, Enjoy the Tranquility of Rationality
I also believe that Silver is about to rip over $25 for roughly the same reason
Silver SI - A Simple Trendline and Levels Scalp
And oil to $88
WTI Crude - Step 1) $88 --> Step 2) $5
Some key fundamentals on gold is that the Chinese Communist Party has been accumulating. I've heard that central banks tend to accumulate gold when their economy is in severe trouble and they want to make a bad situation look good. This is also a classic play in the CCP toolkit, trying to appear as if everything is great and the Party is very smart and stable even as tens of millions of citizens and technicians have died from the pandemic.
Another reason for amassing gold is to convert foreign reserves/national currency into something they can trade for oil on the dark market.
The CCP is not in a good situation. If you look at the stats the Party is reporting, they say that Wuhan Pneumonia (COVID) has totally disappeared from the country since Jan. 10. Not a single case, not a single death in two months, if you believe what the least credible regime on the planet has to say, at least, it's really a miracle.
But you should never believe anything the CCP says. The Party is addicted to lying.
There's data that says the Shanghai vault saw 140 tonnes leave in January, the largest withdrawal since 2018.
Some analysis says the CCP has over 4,300 tonnes of gold in reality, twice as much as they report, making them the second largest holder behind the United States.
So this tells us that the US is the market maker and the CCP, a crumbling regime that is the government of the one country everyone wants to seize control of, has decided to take a huge position, and at relatively high prices.
There's good reason to believe, then, that the US has +alpha to be gained from dumping gold. But first, the MM and its custom algorithms need to take out the shortsellers who have stops above the $1,975 pivot and the buyers who will go long over the $2,000 psychological level while dreaming of a new all time high.
The CCP is going to fall soon. But the skeletons in its closet from the 23.5 year long persecution and genocide against Falun Gong linger like a guillotine over not only its head, but over the heads of all the governments and corporations that have supported the Party and helped it to survive all these years.
This means that the wish for China's opponents is to ensure a controlled demolition of the Party so that the truth of what's been going on all these years can be buried.
The problem with getting ahead of ourselves based on last week's price action in terms of a long is that it's the beginning of the month and gold already went up 3%.
So, in my opinion, I'm looking for a pullback into the $1,820 range to go long and with a target slightly over $2,000. Time horizon is by early April.
Monthly candles show that February was an outside bar:
Daily <--> 4H <--> 1H candles show that February took out its low of the month right at the end of the month as well.
So ultimately, I expect the February low to hold, so long as I'm reading it right and price action is actually bullish, and so long as the fundamentals overall are actually bearish.
And there's no reason to be immediately bearish. Although price was rather abruptly rejected at $1,975, on the way up, there were no pivots or imbalances created. The pivot was just drawn at $1,810~. We can tell this because last week's candle was also an outside bar.
What I'm thinking is going to happen is that $2,000 will be achieved to clear out shorts and to trap breakout longs and hysterical top buyers.
After that, the US market maker will dump metals hard to put greater economic pressure on Xi Jinping's PBOC and CCP as the world attempts to make the Party fall so that they can invade China and establish globalism, which will lead to real worldwide communism.
Think of dumping metals as something of a soft sanction against China and Russia.
The idea of globalism is to have the CCP's social credit scheme become standardized everywhere on the planet, and then humanity will live in a two class system: one where there is a very small group of Gates/Clinton-type elites who lord from their "holy" ivory towers over a very large garbage dump of slaves scurrying around for scraps.
This is the plan. But over the very long course of history, a lot of governments and organizations have attempted to take over the world. World government has never worked out, and has always ended in disaster. Disaster, followed by a change of scenery.
This is why we find buildings from old cultures at the bottom of the ocean and buried in the Earth.
Be careful, and good luck.
Bad news for goldbugs: I still believe that both price action and fundamentals are short/medium-term bearish on gold and that this swing will amount to an exit pump before lower prices forecast in the below post are achieved.
Gold GC1 - Discard Greed, Enjoy the Tranquility of Rationality
I also believe that Silver is about to rip over $25 for roughly the same reason
Silver SI - A Simple Trendline and Levels Scalp
And oil to $88
WTI Crude - Step 1) $88 --> Step 2) $5
Some key fundamentals on gold is that the Chinese Communist Party has been accumulating. I've heard that central banks tend to accumulate gold when their economy is in severe trouble and they want to make a bad situation look good. This is also a classic play in the CCP toolkit, trying to appear as if everything is great and the Party is very smart and stable even as tens of millions of citizens and technicians have died from the pandemic.
Another reason for amassing gold is to convert foreign reserves/national currency into something they can trade for oil on the dark market.
The CCP is not in a good situation. If you look at the stats the Party is reporting, they say that Wuhan Pneumonia (COVID) has totally disappeared from the country since Jan. 10. Not a single case, not a single death in two months, if you believe what the least credible regime on the planet has to say, at least, it's really a miracle.
But you should never believe anything the CCP says. The Party is addicted to lying.
There's data that says the Shanghai vault saw 140 tonnes leave in January, the largest withdrawal since 2018.
Some analysis says the CCP has over 4,300 tonnes of gold in reality, twice as much as they report, making them the second largest holder behind the United States.
So this tells us that the US is the market maker and the CCP, a crumbling regime that is the government of the one country everyone wants to seize control of, has decided to take a huge position, and at relatively high prices.
There's good reason to believe, then, that the US has +alpha to be gained from dumping gold. But first, the MM and its custom algorithms need to take out the shortsellers who have stops above the $1,975 pivot and the buyers who will go long over the $2,000 psychological level while dreaming of a new all time high.
The CCP is going to fall soon. But the skeletons in its closet from the 23.5 year long persecution and genocide against Falun Gong linger like a guillotine over not only its head, but over the heads of all the governments and corporations that have supported the Party and helped it to survive all these years.
This means that the wish for China's opponents is to ensure a controlled demolition of the Party so that the truth of what's been going on all these years can be buried.
The problem with getting ahead of ourselves based on last week's price action in terms of a long is that it's the beginning of the month and gold already went up 3%.
So, in my opinion, I'm looking for a pullback into the $1,820 range to go long and with a target slightly over $2,000. Time horizon is by early April.
Monthly candles show that February was an outside bar:
Daily <--> 4H <--> 1H candles show that February took out its low of the month right at the end of the month as well.
So ultimately, I expect the February low to hold, so long as I'm reading it right and price action is actually bullish, and so long as the fundamentals overall are actually bearish.
And there's no reason to be immediately bearish. Although price was rather abruptly rejected at $1,975, on the way up, there were no pivots or imbalances created. The pivot was just drawn at $1,810~. We can tell this because last week's candle was also an outside bar.
What I'm thinking is going to happen is that $2,000 will be achieved to clear out shorts and to trap breakout longs and hysterical top buyers.
After that, the US market maker will dump metals hard to put greater economic pressure on Xi Jinping's PBOC and CCP as the world attempts to make the Party fall so that they can invade China and establish globalism, which will lead to real worldwide communism.
Think of dumping metals as something of a soft sanction against China and Russia.
The idea of globalism is to have the CCP's social credit scheme become standardized everywhere on the planet, and then humanity will live in a two class system: one where there is a very small group of Gates/Clinton-type elites who lord from their "holy" ivory towers over a very large garbage dump of slaves scurrying around for scraps.
This is the plan. But over the very long course of history, a lot of governments and organizations have attempted to take over the world. World government has never worked out, and has always ended in disaster. Disaster, followed by a change of scenery.
This is why we find buildings from old cultures at the bottom of the ocean and buried in the Earth.
Be careful, and good luck.
Note
Saw this news from Reuters last night showing Chinese companies are hedging foreign reserves because they expect the Yuan to crater. This is congruent with the theory in this post.reuters.com/markets/currencies/chinese-companies-hang-onto-dollars-hedge-prepare-volatile-yuan-2023-03-06/
There's serious economic and social warfare being launched against the nation of China right now, although nobody really wants to get rid of the CCP.
Imo, the fundamentals of this theory are all in play.
Note
With Big Jerome on deck tomorrow and retraces happening too easy and too fast, I gander $1,780 is where the bull case for a bounce is.This would probably make the target for $2,000 gold to be April, rather than March.
Assuming the call is even correct lol.
Note
Based on yesterday and today's price action, the thesis that last month's low would hold may actually be reality.Markets at large should have been a lot more bearish and scary than they were with J Powell testifying to Congress.
That being said, equities, VIX, and the USD are still a complicated situation and a volatility event could still drag things down. It's pretty hard.
Note
1. The Federal Reserve and the US Treasury are not going to bailout these collapsing shitco banks.Important reading: vanityfair.com/news/2008/08/bear_stearns200808-2
2. This doesn't look like it intends to reverse. Next area to watch on Gold for a potential swing failure is $1,905.
Note
Gold at $1,920-30 tomorrow is a danger point for longs.Old ATH, manufactured resistance, mooning markets on the back of SVB bailout, Sunday moon week.
I still think we see $2,000, but $1,930 --> $1,825 will hurt your HODL life.
Note
I'm not sure, with how this has panned out, that there's much risk of a pullback now.$1,930 is a big level though going into end of day. If there were a pullback for $2,000 it would be $1,930 --> $1,875.
Note
Pretty much nailed it, but short of $2,000, FOMC on deck next week.Pullback and then run? Imo if it's bearish it can't leave $2,000 unpurged.
Note
Gold sweeping $2,000 and then correcting 3% to take a low on Sunday after the kind of outlier bull week last week is indicative that the commodity really is bearish and due to correct.Watch for failed retests of $2,000 and you can go short anywhere over $1,900 so long as you have some time.
Note
This is definitely a pivot. Short gold on a pop at FOMC, I suppose?Although lately simple pivot patterns have not been manifesting.
Note
$40 away from the ATH, which is less than 2% at this point.It seems strange for gold to make a new all time high right now. The MMs are very stringent with real gold bull runs. I expect this to be especially true with Xi Jinping having loaded his bags at the top.
Looking for signs of price rejection here back under $2,000 as a short signal. Early shorts can get murgled.
Note
Best theory for CPI morning is Gold to smash the ATH and then that'll be the end of bull town.
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