Loading ...It can not be over… until it has started!
Let’s not get a head of ourselves… we can all imagine the end game for precious metals… but that line to the goal is not linear….
Firstly, my weight of evidence approach, before calling a “precious metals” bull cycle requires these “big 5” charts to breakout on the noise reduce monthly chart… The more important underlying macros hang around on this time frame… not the daily news on Donald’s twitter feed, that is for the smaller time frames.
In order, Gold has to break out first. Done!
Then Gold senior miners…
The Gold Juniors…
Then Silver, really close behind. We have not even had the equivalent breakout as gold yet…
Gold to Silver ratio should breakdown in a close second to silver… nothing yet.
So… let’s wait until all these “big 5” breakout before giving up… Lots of patience required.
You can add the SIL and SILJ as the very last groups required to breakout.
Then the precious metal cycle will start to be undone when they fail in reversed order…
Good points Patrick
BUT Just Holding thru these wicked corrections is tough.
As you show…Gold has broken out….but no one here really “plays” Gold
Trading is tough but it beats getting creamed every few months
If guys are trading swing, day or scalp… then your hourly, daily and weekly charts patterns will have better chances of success once the monthly chart paves the way. It’s all about increasing the odds in your favor… any way you can!