Frustrating But Still On Course
I’ve not posted for a while. Mainly because not much has changed. I’ve got 3 charts for you to show what I mean. In the short term (until the end of the year) I’m not convinced how big any moves are likely to be. I favour gold rising, dollar weakening again, followed by a December drop in PM’s and dollar pop. There is scope for gold to fall significantly though, and still be within the bullish triangle on the log chart. One thing I’m very sure of is that in the next ‘few months’ gold will make that final, crucial breakout, with the dollar slicing through support (shown on my chart). CHF/USD supports the idea that we may see further short term PM weakness (followed by a clear, bull market move). Other metals have been smelling this bull market already. Commodities are set to have their time in the sun again. Inflation is starting to rise above bank targets (3% here in the UK). Central banks are going to have their work cut out. 2018 is going to be a big year, when all becomes clear.
Thanks Northstar
We missed you posts and clear concise LT charts.
I don’t share your conviction right now…but hope springs
🙂
I know how you feel Fully, and $1175 is a possibility on that log chart. More pain in the miners if that happens. The dollar and gold look poised to show their hand at the same time – a break below that dollar support would coincide with a break above the resistance on golds log chart. That’s the theory anyway 🙂
Fingers crossed NS. Love those charts. Fully, you are a pessimistic (realistic?) SOB, but we love you.
I have the same feeling of Fully.
I’m climbing the wall of frustration.
Thanks NS. Wonder whether a significant move higher come year end corresponds with a correction in the ES.
Thanks Northstar!