Hello traders!
As shown below, I was one of the early few to post about the fact that the recent pump in Gold to 1640 was entirely a complete fake-out. Meanwhile, many traders were expecting new highs.
This post will be a re-post to help fellow traders to know whats coming in-case they did not get a chance to see my prior idea.
I will refrain from repeating...
Gold and Silver (but more can be more profoundly seen in Gold) act on roughly 4-10 week cycles (with an average of a bottom hitting on about week 7-8 and lasting until about week 10). This environment is no different, however just like equities, we have seen some voracious snap-backs and pullbacks, but neither of which will alter the course of Gold and Silver. ...
In a year that will likely be mired with rate cuts, QE, and rising budget deficits - expect gold to continue its 2019 breakout. Fibonacci, trendline, and XAUJPY calculations give us a target range of 1711-1823 in the price of gold.
In achieving this target we expect silver to catch up at least to the low 20's. This move looks highly likely in 2020 and will...
We will re-test the temporary bottom next week. If this fails to hold (which it likely won't hold as "the" bottom) big trouble lies ahead. Does a 13% bloodbath on Monday loom yet again? Its possible.
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It's becoming a broken record but it appears another sharp sell-off on Monday and for most of next week will hit us square in the face. For the past two...
Just like Gold, I am expecting a sharp decline from what has been a rectangular consolidation zone. It is possible both Gold and Silver, especially Silver gap down on Sunday.
While in the long-term I am extremely bullish on both Gold and Silver, with a likely re-test of the lows in equities - and possibly another new lower leg - precious metals will sell-off for...
GDXJ failed to close above a key resistance level of $30.70 on Friday and it is highly likely that for the month of April, the miners (and Gold and Silver) have topped. At this point if you follow my ideas, Gold will sell for liquidity in the near-term for the second wave of the downfall of equities.
Investors should remain totally on the side-lines for the...
Hello Traders,
It seems that Bitcoin, Silver and Gold are reverting its downtrend to uptrend while the S&P 500 continue its downtrend. That would be the first evidence that Bitcoin really is a protection asset for crisis exactly like it was project for the Satoshi Nakamoto. If we compare the market behavior during other crises like the 2008 crises and 2000...
I believe the biggest bear market in the dollar is coming soon and because of that dollar could potentially won't the world reserve currency in the future. Holding the dollar right now is the dangerous thing you can do even though everyone seems to be taking their money out of the banks. Might be safer to put some in miners, gold, silver and all commodities....
Gold has formed a shooting star to roughly the 1550 level and will likely breakdown another leg into the mid to upper 1300s. Not necessarily all in one day, but that will remain as the overall trend.
As I stated a little while ago, Gold will breakdown below 1400 to the 1350-1390 range and not until Gold goes below 1400 can we 'think' about true long...
Silver (and Gold) are on the verge of the next run upwards and they are shouting in a hidden manner: buy me!
Around Christmas I told everyone that JNUG would reach 130 or higher sometime in March, while USLV will reach 174 or higher in March. While its impossible to pinpoint exactly when in March, the overall idea remains.
2020 will have a year better than 2019...
Justification:
Directional Play: Yes, sticking to my thesis from a while back that gold and silver have room to pullback. Long-term, could it go up? Potentially.
Technical: Between 20 and 50 moving averages.
Fundamental: Contra to popular belief, /SI and /GC are not acting like safe-havens.
If/Then:
Take profit? 50% credit received
Where will you hedge?...
A lot of people have been asking me everyday why Gold and Silver, especially Gold has failed to rally despite the world cutting rates and banks printing money.
The answer is that this has to do with margin call covering. The unfortunate reality is Gold and Silver sell-off during equity bear markets as algo bots look to sell any pump to cover losses in...
Mainstreet never talks about silver "How to survive a depression, buy gold!", all the baddies on tv youtube etc are encouraging the baddies that watch theml to buy gold.
So it goes way up, and silver doesn't do much.
Silver is approaching a multi year support might bounce
Gold is there:
Silver buyers trying to outsmart the herd are probably wasting their...
Thanks for viewing, I labelled this as "long" despite some as yet unexplained steep price reductions in the short to medium term. I did that because I saw that price drops were coming but that was just a signal to add to purchases, as opposed to sell.
Why do I expect price drops in the short to medium term?
1. Elliot Wave seems to indicate the ending of wave (3)...
As much as I want to stay long in Gold, the reality is there is no chance Gold will surge to new highs from these levels. Unfortunately, this black swan event in the virus will slip the global economy into recession. I will refrain from talking about my reasons for why Gold and Silver will plummet and I invite you to read my other ideas for why.
Having said that,...
The dramatic selloff in precious metals this week marks the end of a possible wave 3 of an impulsive wave. Silver looks much worse but thus far is holding above a supposed Wave 1. The alternative view, held by many, is that the recent rallies in PMs was a B wave in a corrective phase and much lower gold and silver prices are to come. WIll be watching silver...
