Technical chart updates including $GDX, $NEM, $HL, $QQQ & more.
I have a sense of stealth buying underneath the precious metals equity complex by the strongest of hands.
Positions as of Tuesday, May 11, 2021
Retail sales main focus today. No update today.
Prices tend to bounce very quickly from oversold conditions.
Gold needs to break $1,844.70 to create a bear trap. If not, strong support around $1,795-$1,800 area.
Leading the charge is a surge of fundamentally bullish factors such as plunging real interest rates, dovish Fed policy, and surging inflation. The next target for price remains $2000 by sometime in early July..
Gold is not giving up gains and this is a very good sign.
Fiat and government are perhaps best described as failed financial relics of a monetary stone age. Gold is of course the world’s ultimate money.
Gold on the daily chart is over the upper Bollinger band on the daily, looking for it to pull back under it as it rises and tests resistances.
