Loading ...Positive Action
One could look at today’s action in gold and silver and be discouraged by the fact that gold is down after being strong overnite and early this morning. I prefer to look at what is happening below the surface. I want backing and filling here to build a base to move higher. The positive action is that while both have pulled back significantly, silver is holding up as far as relative strength wise and staying above 25.(so far) When stocks open I want to see how my four leaders act in the face of what the metals are doing. If positive, today will probably mark the end of this pullback.
“If positive, today will probably mark the end of this pullback.”
Pullback?
Lower highs and lower lows since Aug.
That does not qualify as a pullback.
I have updated my T/A thoughts, and I believe the next rally leg will be ANOTHER false move, tradeable but also destined to fail. This decline may not find its final lows until late spring.
Don’t know what charts you are looking at but you continue to get it wrong. No lower lows in either gold or silver since the November bottom. You continue troll my posts and you haven’t gotten anything right ever. Probably why you don’t actually post anything useful. Make your own posts when you have something to say.
Sir Chartsmaster,
Excellent intra-day call so far! You again nailed a reversal going towards end of trading day, US time.
As to being “discouraged by the fact that gold is down after being strong overnight and early this morning” … any “veteran” of this PM “game”, kinda always expects this to happen now … it is a surprise when this DOESN’T happen! LOL! Like what happened on the evening of January 3rd and the close of Jan. 4th trading … when gold kept on going up and up and up … over USD 50 from its close on Dec 31st or whatever was the last trading day or time.
Whenever such “momentum forming” moves happen, they are nipped in the bud by “them”.
Now, such a move did make some “big players” who had entered PMs going into end of 2020, become very quick weak hands which sold again.
Only if such “big players” now see this manufacture dip as a chance to add more.
This wash, rinse, repeat game has been played too often for me to be thrown off this “infant” gold and silver bull market. Started in Dec 2007. Still learning …