FOMC is not going to make a move in 2021, that is clear. Gold fell down to its 100-DMA and is looking to find a bottom. The market is oversold, the price will find resistance now near 200 DMA around $1,852.
Oil, Bitcoin, SPX, NASDAQ, Copper, Gold and Silver. Gold is getting late in the daily cycle low, we are due for a bottom any day now followed by a very big move to the upside.
The major attack on Friday was a pretty big clue that the cartel is not done. The choppiness recently is evidence that they are having trouble taking gold down.
The second half of the year could be the setup for the next leg higher in precious metals, which I anticipate could be one for the history books. There is time to prepare your portfolio, but some quality juniors have already started to move.
