My opinion is about as worth as much as anyone else’s and this is strictly my thinking on the gold market right now. First, the market is being heavily manipulated to keep price low by the CBs. Second, the BRICS Alliance is soon going to unhinge from the current reserve currency and push a reevaluation. I’m thinking that the reevaluation will come in at a price...
We have hit the target with a nice profit. I do not see the elevator stopping in the long term. The FED is basically screwed no matter what they do. Countries across the world are dumping the petrodollar by the boat load. The threat of WWIII is heating up with each leak to the press. Look to foreign policy to drive the high tide in gold.
I will do a technical and fundamental analysis today. First, technical, as we see we have an expected pull back to the 50 on the previous major move up. We have bounced off the 200 day SMA. The expected target is looking good. We need to have a solid break above the psychological level of $2,000. Now, fundamental, bonds are falling, Fed is collapsing the...
As we compare charts we saw price action follow the course predicted. Ahead of the ECB Meetings, we now are range bound on Silver and a slight pullback on Gold. The market is looking dovish with investors expecting a 25 point increase in rates and any change above that would lead to further upside movement. This week is jammed with mixed expectations as reports...
Just to update my last Gold chart, I stated I was looking to hit my target of 1.500 on the fib. Here we see that a pivot point alert has triggered as expected. The ceiling looks like it has fallen for further upside movement toward the target. Gold is looking good with the Bitcoin market collapsing after the FTX debacle. I’m highly optimistic that the goal will...
As the chart shows silver is in an ascending triangle with strong support at this level. We have retraced back to the .500 level and are looking to take profit at the 1.500 mark(as indicated by the arrow). Since Silver and Gold usually moves in the same direction and Gold is looking strong, with help from Bitcoin taking heavy losses after the FTX Scandal, the...
As I have said in my first post, the 100 day EMA has turned for a cross of the 200 EMA. We are at the June low and August high resistance level. A solid break above this level will continue to my predicted profit mark at 2043.50. Investors will be paying attention to Congress next week to see if they pass the $1.5 Trillion government funding for 2023. If the...
Right now my chart shows we are rangebound between the 200 day EMA and the 100 day EMA. We see a pull back to the .500 before moving to the .316 support on the Fibonacci. My rule of thumb is if we pull back to .316 then I’m looking to go to -1.316 and take profit there and buy the dip. If there is a pull back to the .500 then I’m looking to take profit at...
