Silver is under attack, and prices are back below the $27.00 level. Yesterday’s gap higher was closed, and prices are backtesting the intermediate trendline. What happens next is crucial! A close below $26.00 would establish a false breakout and bearish reversal (favorite trick of manipulators). In this scenario, silver could collapse back towards $22.00, possibly […]
Continue Reading →Below is a snippet from a Bloomberg article I’m reading. It appears physical silver dried up over the weekend. Increased demand could push prices through $28.00 resistance and trigger a sharp rally next week. Silver Coin Sites Grind to a Halt as Reddit Horde Takes Aim Retail sites were overwhelmed with demand […]
Continue Reading →-DOLLAR DAILY- I think the dollar is experiencing a meaningful devaluation. Prices are extremely overdue for a bounce, but the trend pushes persistently lower. The final area of support arrives at the 2018 low of 88.15. If that level fails, I believe the USD could collapse to 80 by April/May 2021. -DOLLAR MONTHLY- We […]
Continue Reading →Reminder: U.S. Markets close at 1:00 PM today and won’t reopen until Monday, December 28, 2020. Because Markets are closed Friday for Christmas, tonight’s report will act as the Weekend Newsletter. The stimulus saga continues. President Trump is asking for $2000 payments to individuals versus $600. Congress could amend the bill and vote […]
Continue Reading →We have a Fed announcement tomorrow at 2:00 PM, followed by Chairman Powell speaking at 2:30. There is some speculation the Fed will increase their asset purchases. I don’t think they will do anything until the employment numbers get much worse. Either way, it will be important to monitor gold’s reaction following their decision. […]
Continue Reading →For gold to drop into the next 6-month low, we need the dollar to stabilize and turn higher. After consolidating for 2-weeks, the dollar is once again slipping to new lows. The trend is incredibly oversold, and prices are down more than 10% since March…we are due for a bounce. I see the potential […]
Continue Reading →I see the potential for a spike high in gold this week. The days surrounding Friday’s employment report are crucial. If the dollar bottoms around 92, that could trigger a multi-week correction in gold, potentially severe. The US dollar spiked to 103.96 during the March liquidation. Prices are down over 10% from that peak; […]
Continue Reading →Futures reached an intraday high of $1807.70 before sinking back below $1800 (currently $1778). As long as prices stay below $1820, a top is becoming possible. To help promote a top, I’d like to see prices first close below $1770, but a breakdown below $1750 is needed to confirm. GOLD DAILY TARGET: To support […]
Continue Reading →-GDX- Miners gapped above the $34.00 price level and the short-term trendline. If today’s gap holds (prices stays above $34.00), we could have a short-term breakout. Reminder- A top in gold is possible this week if futures fail to breakout above $1800.
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