Same with Crude and a few other commodities.
Which way? A Gold Timing exercise
- Thread starter themickey
- Start date
Actually yes. There was no logical reason, just emotional, for up moves otherwise they would've held.I suppose there must have been a logical rational reason for it.
My belief anyway.
The way I'm reading the gold market, we are still in a bottoming stage, may be pulling out but just a little too early to know for sure. So, in this position we get volatility, every strong move up gets whacked back down again. Should the bottoms continue to rise, ie gold has support, then gold trend will slowly grind up.
Then we get to the stage should major resistance get broken, it will test that level and if it passes, only then will the bull run begin in ernest. That's when silver will begin to rocket also.
Much later a pop off top, then years of bear market again.
The bull has left the stable!!
Ya suuuuure 'bout that?
I'm not but it is looking promising.
If the bull is back on, I'd expect a break above $2100 (a new ATH) within the next few months.
Don't count yur chickens too early with gold, 'cause that slippery slimey feathered fiend aint going anywhere in the pot without kicking up a fight.