Loading ...Gold & Silver (Part Two)
This is the real deal. Look at the charts of the HUI and XAU. They are both about to break above their respective 50 day mvg. avgs. Here is something that wouldn’t surprise me, BUT would be a real tell that this, IS the breakout. They could both actually reach their respective 200 day mvg. avgs. by today’s close. That would be a phenomenal accomplishment, for one day.(if not today then Monday) The follow thru to a breakout above them would ideally come on Monday, but no later than sometime next week. If so, it is the confirmation that the consolidation is over and much higher prices are soon to come.
Sir CM,
What about the juniors?
LOL … I never heard back from Sir Plunger regarding my premature statement … https://goldtadise.com/?p=593106#comment-125563 … but something tells me Sir Plunger agreed somewhat but wanted to read my TA proof (for calling a bottom in juniors via exhaustion of selling indicator), of which I have literally none!
I’m all ears (and all juniors) LOLOL
GL
Playing the juniors will get you a multi year sentence to the house of pain…LOL
Sir JSKauai,
Agreed to the pain when I signed the disclaimer.
Read somewhere on Twitter that the Daily Strength Indicator had reached 12 for something related to PMs.
With all that pain absorbed, the question is : which is a better place to allocate cash NOW?
I sorely missed the crude oil rally though I thought about it when crude was still in the low 70s.
And then one of the most respected posters here, convinced me that the US dollar will not become the useless dollar overnight, but if I earn in dollars I can still bottom-fish on some quality juniors.
And lately I have even started buying higher on some juniors, as their outperformance seems to be un-ignorable. Sometimes waiting for another correction can be missing the train, as crude oil taught me again.
GL