Loading ...Keep The Faith – It’s All Good
There is a ton of bearish sentiment, which is absolutely perfect. The charts are looking superb. It goes without saying that if the curved base fails, we need to get defensive fast, and if the long term support just above $1220 goes, the bears will have it. I just can’t see it though. This is what I’m seeing in gold and silver…
Stocharstic in the green buy zone now. On the last 10 occasions this occured (every time since 2013) we have a 100% success rate – gold and silver turn round and make impressive gains. The timing is just perfect if you look at the gold chart – a bullish wedge has formed beneath the all important breakout level. If we advance by the average of the last 10 occasions (approx. $175), that will take us well above $1400, and deliver victory to the bulls with a huge technical breakout.
Now that’s a convincing illustration – Thanks
You’re very welcome PP. Even if you’re not bullish PM’s, this has to be highly tradable. If you study the last 10 occasions Stochastic was down here, we are looking at a timescale of days to a few weeks for the turnaround.
One guy to follow is Gary Savage … unsure of his track record, but he tries to retrain our way of thinking inline with what is normally hard to do in this environment: https://blog.smartmoneytrackerpremium.com/
I’ve followed him for a very long time. Suffice it to say, there is good, bad, and ugly. I would very strongly suggest that anyone new to investing in PM’s –or anything else for that matter– might want to stay far away. That’s because Gary’s style is very forceful and dogmatic. He often encourages his followers to go all in. Sometimes he’s right and sometimes he’s wrong. His guru style seems to attract the newbies (as it did me once) and that can be dangerous.
But for those who have put in the time and developed their own opinions and own investing style and have weighed which methods work best for them, I’d say paying attention to Gary’s cycle timing can be a very helpful adjunct to your other sources. In my opinion, Gary is a very sharp tool and must be used carefully.
Yes, I read his stuff for a short while, kind of like the clock being right twice a day.
Curly Top … I am not a subscriber, but do find his free videos at least worthwhile to listen … they make you think in a way different from the crowd. Thx for the feedback!
We should be on guard for a failure to breakout on both the gold and silver charts below your boundaries … that’s exactly what the big banks want … many to capitulate so they can buy one last round at lower prices.
Also, the COT report from last week was very bullish. I’m seeing many calls for intermediate cycle lows coming up in the next month or so. Maybe the stock markets begin rolling over again and with that correction assets continue rotating into this sector?
Thanks Afasilver, that’s certainly a possibility. As you say, those downside support levels need to be carefully watched, despite my bullish interpretation. I could be wrong of course.
I forgot to tell you … thx for the charts, very insightful, as always!
Thank you Sir.