Doesn’t look like, sound like, smell like a permabull
Golds daily Renko chart. Looks a bit 'inverse head & shouldery'. Either way, the key signal will be given when we cross one of those two dotted lines. Until then, the jury is still out #gold #silver #crypto #uranium #commodities #inflation #commoditywars #currencywars #fintwit pic.twitter.com/D1W8sSovlZ
— Northstar (@NorthstarCharts) August 6, 2022
I agree with NS here. The jury is still out. In the very short term several PM charts show a potential small inverted SHS pattern. On the weekly scale many charts are pointing to a retest and continuation of a serious breakdown.
The globe is burdened with historic debt at all levels, inflation is surging, the supply chain is fracturing.
Will the system implode like a house of cards (deflation), explode like a bomb (hyper inflation), or is it possible the Fed successfully engineers a soft landing?
I don’t know the answer. Does anyone?
do not see much love for the metal yet
Tracy (??? )
@chigrl
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BAML Weely Flows: $11.7B inflow to bonds, $0.5B outflow from gold, $2.6B from equities, $4.1B from cash
Flows to know: biggest inflow to IG+HY+EM $9.4B, 1st inflow to financials sinch Mar’22 $1.0B, biggest inflow to consumer staples in 10 wks $1.2B