Rick Ackerman’s Technical Forecasts – Tue 3 Jul, 2018

Comments on Platinum, Gold and the USD

Rick Ackerman is with us today to first address a comment that I received a couple days ago asking for a technical look at Platinum. Platinum is a market that has been selling down and it now at 2+ year lows. We also look at the gold and USD markets with a comment on if they can both move up together.

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Featuring:
Rick AckermanCory Fleck
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Comments:
  1. On July 3, 2018 at 11:31 am,
    4 oz says:

    All true Rick, but Gold could be at $1475 in the blink of an eye too.

    • On July 5, 2018 at 9:14 am,
      Rick Ackerman says:

      I won’t miss the turn if and when it comes, 4 oz., I promise. Here’s what I wrote on Tuesday, even though, like everyone else, I’ve grown disgusted with Gold’s performance: ______UPDATE (July 4, 9:12 a.m.): We’ll take Tuesday’s impulsive rally seriously, based on the contrarian logic stated above. It is vexatious that the futures missed hitting our bid by just $3, but it is also incipiently bullish that this occurred — the moreso if the rally continues to exceed prior peaks. It has done so twice on the hourly chart over the last two trading days, but the implications would grow still more bullish if and when some prior peaks on the daily chart are surpassed. The first of them lies at 1274.40, about $17 above. I’d suggest setting an alert there, since a print a tick above that number would be good news.