The US stock market continues to struggle, and the miners look ready for a major rally. Oil is making a beeline towards my $100 round number target, but I expect to see a price of $200 ...
$1,790.10 is the 18 week moving average for gold and remains a difficult resistance. Gold needs to hold $1,747.70 to hold bullish uptrend in the short-term charts.
When IBM poked above that high, it accomplished two things psychologically: 1) it made bulls more confident than ever; and, 2) it gutted and disemboweled the very last of the bears..
The gold cartel will have a lot easier time manipulating gold lower here with a stronger dollar. As I have said many times in the past, metals are the second most manipulated markets behind currencies. Governments have an inflation problem..
