This week’s gold (and silver) micro management article for Gold-Eagle adapts our waiting place theme, previously applied to the US stock market, to the precious metals. Gold is waiting for months on end now, below epic resistance that doubles as a gateway to a would-be confirmed cyclical bull and silver is waiting day after day below daily chart resistance, going sideways despite its favorable CoT situation. Everybody is just waiting. Check it out.
“The chart shows that since 2016 gold has probed this key resistance on 9 separate monthly occasions and is in its 4th month in a row of doing so.
They say that the more times resistance is tested the weaker it becomes but we say the crossing into a confirmed cyclical bull market in an asset that exposes 95% of the rest of the system will not come easy. Still, with volume building it sure does look doable in 2018.”
Meanwhile, in NFTRH 495 we got into much more detail including a bit of tin foil hat stuff (not really, just my closely held view) on what gold is and is not, on the macro fundamentals, HUI’s bounce status and 29 gold & silver stock charts.
So if you only want or need part of the picture, go check out the link above. If you want the whole damn thing, week after week tied in with an ongoing, sensible and adjustable narrative, well go hit the PayPal button and get the real thing (or contact me about other options). Besides, the service includes a little thing called the rest of the global macro markets. I mean, as hard as it is for some to realize, it’s not just gold you know.
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