Loading ...FOMC Reaction
Well, whether it was hawkishly dovish or dovishly hawkish, it seems to have had the desired effect. Let’s see if it follows through in coming days.
And that 50 week moving average was tagged to perfection…
I’m not saying we’re in the clear, but it’s a good start. The battle continues…
Edit: 
PM’s puked into the close as the dollar broke through the 50 week moving average. False moves ahead of a proper reversal tomorrow ? fakeout ?
shakeout ? what the hell do I know ? Time for a beer, before I go completely crazy !
I am sounding like a cracked record about the USD but if 16 Feb was the YCL and 17 Apr was the DCL then this current daily cycle will be right translated and advance for 21-26 calendar days = late next week around 8-11 May
More pain to come for gold and the big AUS miner NCM.AX will move down into a DCL
Thanks Norvast. More pain if you’re right. Pushing above the 50 week moving average is unprecedented in dollar downturns in the last 50 years though.
So if I understand correctly you can still envision a bull-lite case for gold for the remainder of the year even under a strong dollar scenario. Thank you.
Not sure if that question was addressed to me Curly Top but I will answer.
The daily cycle will most likely be right translated as well as the weekly cycle so I expect the USD to top out (ICH) sometime in mid Jun. That should mark the ICL (weekly cycle low) for gold.
That will leave still 10+ weeks for the USD to move down and gold to move higher – great combination for gold.
Then the next weekly cycle for the USD lasting around 26 weeks, which will be the second weekly cycle out of the Feb YCL, is normally left translated – another great combination for gold.
So after Jun we have 10+ weeks remaining on the current weekly cycle then 26 weeks for the next weekly cycle taking us through to Jan 2019.
Obviously there will be up & downs during the daily cycles but I am expecting some clear air for gold.
I am stating the obvious saying that the best combination for gold is when we are at the end of the USD weekly cycle combined with the start of the gold weekly cycle.
Ok understand. Thanks a lot.
NS – forget the beer. Have a stiff drink. You deserve it. Keep up the great work.
Cheers Jim.
Does one get beer or cider in the U.K. or is cider drinking on the wane? If you’re having a cider, I will have one or two with you. Cheers.
Cider is very popular in the UK MM. Google ‘Scrumpy Cider’. Anything brewed organically and locally is massively popular. Big trend for large, chain pubs and restaurants to close and be replaced by much smaller, locally owned and run establishments. Micro pubs and micro breweries are popping up everywhere. Something called Real Ale is also very popular (hand pulled, no gas, beers, often aged in wooden barrels). Anyway, whatever your preference, cheers everyone 🙂