There are now two entirely different notions of a coming “reset”. One has been popular among those who speculate on the gold price. They expect a revaluation of the dollar.
Hugo Salinas Price is one of the most successful businessmen in Mexico. He also happens to be a brilliant monetary system analyst. In his latest essay, he explains why Governments and Central Banks largely ignore Bitcoin and cryptocurrencies, choosing instead to focus their efforts on containing the price escalation of gold and silver.
Another awesome day is underway on the gold market gridlines… for eager accumulators of the world’s greatest asset!
Confidence in American politics is now rarer than gold.
The main point that I am making is that the market is likely setting up for a major rally as we look towards 2021. Based upon the current market structure, I am seeing the 4600-4900SPX region as the next major target for 2021, with the 4200/4300SPX as the initial major resistance before we get to that target zone.
This could be a bloodbath phase for five to seven days, but I am not convinced this going to happen. We are very close to a bottom.
Certainly not in good shape here for metals. The support level broke and triggered a sell-off. Bearish set-up for the short-term.