Most traders do not recognize a trend until it is matured and then buy into the trend right as it is about to have a severe correction or go sideways. I think gold is going to trend again strongly after...
The question which I am asking myself is will be there new lows in gold, silver and copper or will be they near/break the high price of the month of May?
We cannot imagine any more Gold positives than are already in play. Yes, the Dollar’s been “firming” a bit, but you know, and we know, and everyone who’s being paying attention..
None of which argues that stocks cannot continue to climb heedlessly. It's not as though it takes bullish buying or even real money to make this happen. To the contrary...
What tends to happen in these situations is stop losses are triggered and positions are liquidated, overshooting the move. I doubt the correction will be over until the uptrend line is broken..
I am not convinced that if you get to a debt-limit deal, that you can get this by June 1. Nobody is going to agree to a long extension. Gold down nearly a $100 from its recent near record highs. Silver cracked.
While debt, war, de-dollarization, the Fed, and new Chinese gold-linked bank accounts get the headlines, investors should also stay focused on key oscillators, support and resistance zones for gold..
