Loading ...Gold made a lower low…
Than the November low. From a cycles perspective that is potentially a bad sign. If you interpret the Nov low as an ICL it means this current IC is left translated and could have many more weeks to fall. Not only that, but it calls into question whether the bull is over.
another interpretation is that if we make a swing low soon, for example this week, that would mark the actual ICL and not the November low. However, for that to be true, we are looking at an IC that would be 50+ weeks, which would be the longest cycle in at least the last 20 years.
One word: manipulation?
Two words: tape painting?
Quoting an author:
“When things don’t seem to make sense on their face, it’s a good bet that something unseen is happening that makes sense of them. I’m thinking about the gold/silver ratio. Gold keeps stumbling while silver does not. That takes the ratio down, of course, but a falling ratio tells us that silver and gold are about to rally, so what gives? I can only guess there is a lot more strength behind the metals than gold’s clumsy performance suggest. Today the ratio fell 1.33% to 65.786, third fall in a row. The RSI and MACD both testify the ratio will drop lower still, implying in turn that silver and gold will rise.”
Current GSR: 64.82
GL
Lower gold price makes complete sense, right when the coin dealers have very little inventory and what inventory they have is priced at Efing ridiculous premiums. This is what you can expect in a gold bull market, LOL. The Buyden admin will clearly be financially responsible and Build Back Better?