Loading ...Gold Cycle Update
I posted this Twitter feed on Gold back on November 10th. Did anyone listen?
#Gold is the cycle driver for #SIlver #GDX. Yesterday's slight undercut low was not a great sign but could be seen as a double bottom so it must hold. Any break below yesterday's low brings into play a Dec 2020 ICL that will likely test the 1770 to 1800 level. #GDXJ #NUGT #JNUG pic.twitter.com/HjQ9ccGZFH
— Surf City (@SurfCity_Cycles) November 11, 2020
I’ve been short since $1850 and am close to retiring early.
Good for you! I retired from the corporate world at age 55 back in 2011. Every day is a Saturday… 😉
I have a 1766 low if that’s of any value. It’s where I see the bounce coming from. That number is right on top of that massive supply zone between April and June this year so its probable. But there is some technical angle to it as well based on an intraday peak in the futures in mid April.