Loading ...Bulls vs Bear
It’s a big battle among the ones who think that there will be another leg down and the ones that believe that PM markets will still go up for a while before a sizeable correction,these are two examples of the pessimists:
https://blog.smartmoneytrackerpremium.com/2019/02/warning-signs-in-the-metals-sector.html
http://www.kereport.com/2019/02/25/gold-and-copper-watch-the-long-term-charts/
I think we should have a correction and the best to look at it is in terms of cycles. Since August we had a 6 month+ rally of $150 in Gold price. Although the size of the rally could be bigger, after 6+ months, it seems logical to have a setback and reload for the next up cycle!
Bull markets surprise to the upside and bear markets surprise to the downside. Whilst a fairly long consolidation/correction is logical here, it isn’t guaranteed. As long as we don’t break any key support levels, we remain in bull mode.
This is correct …the problem is if we are ALREADY in a bull market.
I have no clue about EW, but it could be we are finishing Wave I of the lows and need some consolidation to work of any bullish sentiment and to have new energy for next wave. Remember bull markets climb a wall of worry. Maybe GDX 20/21 is in the cards.