Loading ...* Possible Low in Gold Today (But NOT a “Bottom”) *
I just received this about an hour ago.
https://goldtadise.com/wp-content/uploads/2018/07/ChartWorks-GoldCapitulation-Mode.-07-19-18-1.pdf
(Personally, I believe August Comex Gold will find sellers at $1,238 and a LOT more of them at $1,260.)
CAPUT ULATION IS WHAT I SEE
Maybe a bounce but unless someone drops a nuke i don’t see a catalyst
Thanks Boo
Neither do I. Unless the Dollar craps-out right here in the 95.20-95.50 area – and drops below 92.70 basis September NYBOT – all I see for gold is a “dead cat bounce”.
My BIGGEST fear is a soft landing where the Bond Market behaves and the Stock Market goes back into a polite uptrend with inflation remaining “contained”. That’s the scenario where I can see gold back at $1,000. (Puke!)
I got whipsawed out of my short hedges in August Comex so I’m looking for a decent place to put at least some back on.
Short Gold ? Et Tu Booboo ?
Agree, not bottom.
Hoping for a swing low in gold today above 1229.60.
It’s good ol’ Ross Clark. I haven’t listened to HoweStreet.com for ages but he was one of my favourite voices on there. Anybody that long in the business has to worth a listen. He’s seen it all before. I can’t remember when he started. Must have been in the 1970s.