Loading ...Excellent Entry Levels
The expected correction has led to excellent entry levels for gold and silver(and related miners). Even though there will be another, bigger correction next week, it will begin from much higher levels and therefore will not get back to today’s lows. Gold at 1855 or just below and silver at 27.50 or just below are great entry points. Gold should now be headed towards 1900+ and silver 30+. The subsequent sharp pullback should not retest today’s lows.
Jordan is expecting a pullback to mid-$1700’s.
https://thedailygold.com/video-whats-coming-for-gold-silver/
You are doing great CM
But I’d sure like to know what you are basing these projections of pull backs on….do you have a chart to show ?
Thanks, FGC. I am using the gold and silver charts but it isn’t anything mechanical or formulaic. It is interpretive. I felt gold was going to go through the resistance at 200 day around 1855 and it did. The next resistance on the chart was around 1880 which if exceeded would have represented a breakout. It figured it would pullback from there but wouldn’t go much below the 200 day.(resistance becomes support once broken above.) Now I expect that 1880 to be broken which should lead to a move above 1900.
FWIW, there’s a predicted daily cycle low (DCL) for PM’s around 24 May followed by a move up to early June. Norvast post on twitter.
Personally I put all of my chips on the table with calls on HL, CDE, SAND, AUY, GDX. June/July time frames.
Still holding a few in-the-money with Friday expiration in hopes of a rally tomorrow/Friday.
If not now, when?