This cabroncete market is made to test the nerves of all of us. Whit sudden moves that reverse sharply in hours....I love it
1) Do I believe we are in multiyear bull market in gold? Yes. Many evidences say so. The fact that is gaining value against all mayor currencies, for example.
2) Are we in a correction? Yes. And it takes what in takes...and in the future if will be worse. As the bull evolves, correction will last more time and would be wilder.
3) I believe we are at the end of this correction. In fact, indicator that i use have gave a bullish signal weeks ago, but we are reversing and not yet explode.
4) If past performance is a clue, well, we will witness soon, maybe next week (the first of August) a move up that should end in the range of the past top.
That is what happened in the past. This move should be fast, and firm.
5) Could we go back to 1700 or even less? Well, anything can happen of course, but I don't think so.
- First: The event of past March wast something rare, unique, because of its violence. Something that never happen before. And affected all the markets except Natural Gas, that is so crazy that doesn't need any virus to behave like a drunk. So, if this happen again, it would not be so rare and unique, it would be a yearly event. And it is not. So, that type of event could happen again, but due to another estrange circumstances.
- Second: Past Performance, and I mean the bull market in the 2000s, suggest that it SHOULD NOT happen, because it didn`t happen in the past. But now, actors and performance are others. Anyway, Its the only reference. I mean taking gold back to those prices would break the bull technically.
So patient, and more that that with this virus around.
And now ... "After the Gold Rush"
youtube.com/watch?v=NOMaqe0LOmo
1) Do I believe we are in multiyear bull market in gold? Yes. Many evidences say so. The fact that is gaining value against all mayor currencies, for example.
2) Are we in a correction? Yes. And it takes what in takes...and in the future if will be worse. As the bull evolves, correction will last more time and would be wilder.
3) I believe we are at the end of this correction. In fact, indicator that i use have gave a bullish signal weeks ago, but we are reversing and not yet explode.
4) If past performance is a clue, well, we will witness soon, maybe next week (the first of August) a move up that should end in the range of the past top.
That is what happened in the past. This move should be fast, and firm.
5) Could we go back to 1700 or even less? Well, anything can happen of course, but I don't think so.
- First: The event of past March wast something rare, unique, because of its violence. Something that never happen before. And affected all the markets except Natural Gas, that is so crazy that doesn't need any virus to behave like a drunk. So, if this happen again, it would not be so rare and unique, it would be a yearly event. And it is not. So, that type of event could happen again, but due to another estrange circumstances.
- Second: Past Performance, and I mean the bull market in the 2000s, suggest that it SHOULD NOT happen, because it didn`t happen in the past. But now, actors and performance are others. Anyway, Its the only reference. I mean taking gold back to those prices would break the bull technically.
So patient, and more that that with this virus around.
And now ... "After the Gold Rush"
youtube.com/watch?v=NOMaqe0LOmo
Note
where I say (the first of August)...should say the first of Fabruary
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.