Okay Gold Bugs, the Time is Now

Too many Bugs got too brave as the CoT structures became bearish for a correction at least, and bear market resumption at most.  I leaned toward the former.  We’ll check up again on CoT tomorrow.  As of Tuesday the 17th, CoT was not yet repaired on a short-term basis (longer-term it is on a productive trend).

gold.cot

Here is the daily chart we used in a subscriber update yesterday.  The black arrow means only everything because a lower low in the series of higher highs and higher lows would signal a very bearish interim phase and a kaput rally.  So far, so good.  Okay gold bugs, the time is now.  Get ‘er done.

gold

Gold has a lot of work to do, however.  If it does rally (conveniently, into PDAC?) it must make a higher high above 1300.  That’s what a rally is and that is what a bull market is; higher highs and higher lows.  Pretty simple.

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