Indeed we oft wonder if the six-figure folks at the banks actually do any honest economic analysis. The optics are that they do not, instead choosing to parrot one another with what they see on TV.
Last week's price action served to remind us that big rallies and even entire bull markets are driven mainly by short covering. This doesn't happen by accident.
Gold moves as a headwind is removed. Gold is moving right into the resistance part of the daily Bollinger Band. Rally might have problems here as market is overbought.
I missed the bottom by 5 days and $15 in Gold. It seems very unlikely that gold will turn lower here and make a lower-low. Gold will next need to break the...
Gold in particular looks very good here with the best commercial COT we've seen since 2017/2018 just before another big rally for gold, silver and the gold stocks.
