Goldtent TA Paradise

Here’s an update of a chart I posted many weeks ago…

This is just one of many, many pieces of evidence. Each on their own could be misleading, but if you put them together, it explains why I’ve been 99.9% certain PM’s are going up in a sustained bull market. We’ve seen gold rise hundreds of dollars since I first highlighted this chart, and it has just become more and more bullish by conforming EXACTLY to the pattern I predicted. It speaks for itself…

Gold, silver and GDX are holding the line, but it’s very close…

If so, $1774 should hold…

Spot gold is having trouble in the $1775-$1800 region. We have turbulence here. Two possible outcomes (in my view). We get a $200+ correction before clearing this hurdle, or we get it after the next spike upwards. A large correction is very, very likely though – it’s just a question of when.

Gold spot is looking to hurdle the psychologically important $1800 level. A spike may well follow. Be cautious as this unfolds.

There’s a lot going on in this chart, but I hope I’ve kept it as clear as possible…

This is the final part of act 1. The return to the 2011 highs for gold. This breakout was led by the miners (they broke out a while back). Gold and silver have just followed. Targets are $2000+ for gold, $21+ for silver and around $54 for GDX. At that point – take profits, and prepare for a correction.

I’ve posted this before (weeks/months ago). It’s working out well so far, and becoming clearer as we go along. This next bit will be fun, but remember to be mentally prepared for a 30%+ correction, and possibly many months of consolidation. The move after that will also be fun, and a good chance to exit and re-enter at more attractive prices. In a PM bull I rarely exit altogether, but this could be one such opportunity (along with the 8 year cycle low). Timing is everything of course.

We’ve seen that GDX has broken out. HUI is about to break out. This yields a target of $425, which is bang in the middle of the ‘zone’ I’ve marked on the second chart. It would be the perfect end to a reverse symmetry move and a great place to take profits and reduce position size whilst a correction likely takes place before the next big move up.

EDIT – HUI HAS BROKEN OUT ($277) – I don’t know why, but Tradingview software hasn’t updated yesterdays closing price. This gives a confirmed breakout of the bullish flag/pennant. We’re on our way !!

It looks like gold and silver will break out of their bull flags/pennants very soon. GDX has already done so. The miners leading the metal at this stage in a PM bull market is normal/good behaviour. Big mining gains directly ahead.

Following hot on the heels of Patrick’s star appearance, here’s my effort if you’d like to hear me discussing some of my thoughts with Tom 🙂

https://palisaderadio.com/kevin-wadsworth-bullish-signals-all-set-for-gold-silver-uranium-and-bitcoin/

Edit – Apologies, I missed the earlier post 🙂

Some people keep saying things like ‘any death is reported as a covid death’. The UK was one of the worst hit countries, and thats not the case here. Covid deaths were under reported, not over reported. Excess deaths were higher than official Covid deaths, and I know many who died of Covid that weren’t recorded as such at the time (including a relative of mine). Thousands of Covid deaths around the world are going unrecorded due to lack of testing in less well developed countries. Brazil even stopped altogether at one point, and you’ll never convince me the figures there, or in Mexico, China, Africa, India, Pakistan are even close to reflecting the true scale of the Pandemic.

Thought this was interesting…

https://public.flourish.studio/visualisation/2634167/?fbclid=IwAR1VS1FqnXpo-JPytrNfYhKZQZjAgxARp-mM6LYFsReqJzMKi15fVZaWivo

This looks promising…

Edit – that $54 target would fit in perfectly with a reverse symmetry move. We went from $54 ton $32 in 6 months. How about a move back to $54 by the end of the year ?

Gold, Silver, US Dollar and Energy Fuels…

Dr Copper will give us some answers soon

Where are the bulls ?

I wrote yesterday about the possibility of gold consolidating for many months. The alternative scenario is a rapid break to new highs first (or very close to the old highs), then a multi-month consolidation/correction. I’m keeping a close eye on this…

On this long term chart you can see the arc is offering ultimate support down near $1500, but there is a more realistic target where the moving average and support ‘zone’ coincide near to $1600. History shows a spike towards $2000 is perfectly possible in the near future.

Of course it could break down from here, but it’s starting to feel like the proverbial ‘beachball being held underwater’ with yet another bullish looking wedge forming at this ‘decision point’.

EDIT: Those jobs numbers were surprising and PM’s are getting knocked back as a result.

This is an old chart of mine, but it’s still very much valid, despite the expectations of many for a soaring Dollar.

Bitcoin has now made the all important breakout above long term resistance. That line is now acting as support. If the support holds on any retest, new highs are coming.

Just re-visited my chart, for anyone who’s interested.