The reversal in gold yesterday remains technically bullish
Rick Ackerman kicks off today to share his thoughts on the gold price after yesterday’s reversal. As gold continues to move up we are closely watching the $1,210 level. Once there if gold can break through this level Rick tells up what to watch for next. We also talk about the drop in the markets and what he thinks is causing this.
Click here to visit Rick’s site and read over some of his other lines.
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Sorry not Savage!
Rick didn’t mention his views on the USD but it is presently 101. Anybody noticing the Yen, back to 113.9 from a recent 117 range? The Euro has climbed back to 106.6 from a recent low of 103. If not now, when will the pundits declare a turn in the USD?
Also, a good read from a sensible mind: http://www.plata.com.mx/mplata/articulos/articlesFilt.asp?offset=140&fiidarticulo=303
Market is down sharply but my holdings which are 95% general market are up except XOP where I missed taking profits near the open as I got late coming in. I again sold GDX on the spike after buying last night.
Paul:
You may enjoy this pod cast with Peter Eliades: He’s a good listen for me always.
http://www.plata.com.mx/mplata/articulos/articlesFilt.asp?offset=140&fiidarticulo=303
Great chart! Thanks.
Hey Matt….I think I saw God in your chart!
GDXJ is at resistance but holding up very well:
http://stockcharts.com/h-sc/ui?s=GDXJ&p=W&yr=6&mn=11&dy=0&id=p96556529352&a=385422417
SLV is trying to take back the 50 day MA:
http://stockcharts.com/h-sc/ui?s=SLV&p=D&yr=1&mn=0&dy=8&id=p52698810918&a=451786106
I think the loonie is going to spend most of the year going higher…
http://stockcharts.com/h-sc/ui?s=%24CDW&p=W&yr=3&mn=7&dy=0&id=p69307957866&a=443833933
I hope it can get past 78 cents as the cost of living is rising here in Canada. We need around the 85 cent level to be comfortable.
I strongly believe that 85 will be exceeded this year.
Gold may dip below 1200 by a few bucks to scare everyone.
and then a 26$+ pop after that
sentiment is still very low
remember an unstable nutter like Trump’y will also create volatility to the upside for gold! EU money printing seems to be doing the same thing it did for the U.S……maybe a trend change in the U.S.D is imminent? Probably not, but everyone is still on the SAME side as the U.S.D bet to 110-120. Will a “world of pain” be coming to those betters or will Rick’s “ship” analogy hold water;) The next 4 weeks are going to be bumpy
His tweets will cause the markets to act like a roller coaster having more effect then the Fed or economic reports.
A president should not be running his government through twitter. That is suitable for teens. Social media use should not be allowed for anyone in the US government. He tweets to various major industries and to other countries. He should have direct meetings with the various parties.
The gold sector bears have done a good job keeping the silver-gold ratio in check but I think their luck is about to run out. If I’m wrong, then we probably have just one more modest dip in the ratio before silver really starts to outperform gold. (As most of you know, the whole sector does much better when silver outperforms gold.)
http://stockcharts.com/h-sc/ui?s=SLV%3AGLD&p=D&yr=1&mn=0&dy=0&id=p15532893986&a=494856382
Hi Ho Silver…… Away!!
Agreed. Another view of the same thing:
http://stockcharts.com/h-sc/ui?s=GLD%3ASLV&p=D&yr=4&mn=0&dy=0&id=p02710577365&a=497206293
ON TOPIC:
https://youtu.be/FJNWEAcsBis