Today copper hit the daily chart’s SMA 200, which was to be its next stop after failing support at 2.85. Dat’s now short-term resistance. Longer-term resistance has of course been the thick ceiling at 3 bucks. Until that is surpassed we do not go global macro cyclical, at least with an inflationary bias. It’s not rocket science. It’s Doctor Copper’s medicine or quackery. Subscribe to … Continue reading Copper Boinks the SMA 200
Well, we (NFTRH) had the gap on radar for a reason and that reason came yesterday. Today HUI is doing it one better and going for the 62% Fib retrace of the entire rally. You know, that rally that the bull horns were pumping everyone into at the February top? Yesterday I wrote about some disgusting action in GLD. But do you know what was … Continue reading Huey Fills Gap, Fibs 62%
Based on 30 years of data gold was fairly normal to its seasonal average until dropping to disconnect from it in April. From Sentimentrader… I don’t mind that in the least because it makes sense given gold’s big bid in the fear-stoked Q4 2018 and disconnect from companions like CNH/USD. You know, we can rant and rave about manipulation and evil incarnate in markets but … Continue reading A Look at Precious Metals Seasonal Patterns
