Positions as of 10 May, 2022.
Energy stocks too far stretched past the 200 dma, a strong warning signal. Smart money sold into the USDX breakout, which creates a false one?
I am fearful for the fall as I do not see China changing its zero covid policy. Gold moved to its 18 day moving average as expected, but what's next?
Gold is in a support valley. An event took place in gold that is very important. The embedded reading has lifted!
Crude oil supplies from Venezuela and Iran can sink prices. Even if these nations are allowed to sell in a limited quota.
It appears that junior mining stocks are poised to decouple from the US stock market, anchor to gold, blast up from an immense H&S bottom pattern… and stage the biggest rally in the history of junior mining!
Gold trying to get a bounce going but still the picture remains bearish. Lots of resistances above. Strong support just below $1,800..
Bullish on the metals and I think we are preparing for a breakout to all-time record highs, possibly this year.
The gold market is losing its embedded reading -- wants to run higher.
Stagflation is happening really. I still believe that gold and silver are the best hedge against stagflation.
