Near term outlook for gold balanced against the all-time highs in US markets

December 2, 2020

Chris Vermeulen, Founder of The Technical Traders joins me to answer the question all gold investors have… Has gold bottomed? He provides his near term outlook and levels to watch for gold and US markets.

Click here to visit The Technical Traders website.

    Dec 02, 2020 02:50 PM

    Chris the problem is you have been totally wrong most of time this year using technical trading.
    Your long term newsletter kept everyone in and watch stock tumble down in March on to bounce up from 2200 to 2500 and you had them sell 50 pct because you said retest and mkt crash, then watch stocks come all the way back up to 3k level, those people were puking.
    In your swing trade newsletter you were wrong on 70 pct of your trades pitiful.
    Technical trading is great looking on charts but you can’t read them.

    Dec 02, 2020 02:41 PM


    So far so good amigo. Expecting gold to hit my targets as mentioned the other day. Once it breaks through this minor resistance at $1838-$1840 it will run fast towards $1875-$1890 give or take. I like $1881-$1888.. Resistance will stop it there temporarily at least I believe. Shooting it back down tomorrow and by Friday to test that $ 1778-$1784 region. If this scenario plays out, then next week will propel as higher from those lows.

      Dec 02, 2020 02:55 PM

      1780 again? No way Jose! (Hose A?) ๐Ÿ˜‚

        Dec 02, 2020 02:38 PM

        Lol, Iโ€™ve had a very good run donโ€™t blow it pass me ๐Ÿ˜‰

        If it does your going to have to take the remaining wagyu from your stash because it will be another down day ๐Ÿ˜†.

          Dec 02, 2020 02:30 PM

          I’ve restocked my wagyu so I can proceed boldly. ๐Ÿ‘Š๐Ÿ˜Ž ๐Ÿฎ๐Ÿฅฉ

      Dec 02, 2020 02:01 PM

      I think it’s more likely to hit 1915 and then pull back to 1885.

        Dec 02, 2020 02:59 PM

        I’m more interested in knowing when Silver will hit $30. What do the chart wizards say? DT

          Dec 02, 2020 02:34 PM

          28 should be easy this month but 30 is also very possible. This move is going to catch a lot of people off guard so we should have some short-covering jet fuel.

            Dec 03, 2020 03:52 AM

            Thanks Matt, much appreciated! DT

            Dec 03, 2020 03:51 AM


            Dt seeing the same thing.. Silver is going to fly lots of catching up to do.

            Dec 03, 2020 03:06 AM

            Silver Guru……..reporting………silver needs to catch up for sure… ๐Ÿ™‚
            Platinum……..finally catching a bid…………………

        Dec 03, 2020 03:04 AM

        I like that $1915 call………..thanks Matt………..
        Looks like Glen, likes the Number also………

          Dec 03, 2020 03:45 AM

          Who wouldnt like $1950?

          I went to buy phyzz precisely at the low of the dip. Perfect timing.
          A rare occurrence for me.

          My car blew up.

          Didnt think vehicles were part of the jr mining gold risks. ๐Ÿ˜‰
          Learning every day I guess.

    Dec 02, 2020 02:18 PM


    Your correct it ainโ€™t going down there again to $1781 come to think about it. I do like $1915
    I think this week green candle next week green candle definitely going into that $1880 your target 1915 first then $1940-1950 before a pull back to complete that right shoulder.

      Dec 03, 2020 03:07 AM

      Bottoms UP……….cheers……… Bottoms in……..
      I said Gold was going higher…lol :)……. J. the Long… ๐Ÿ™‚

        Dec 03, 2020 03:11 AM

        $2000 After Christmas…. ๐Ÿ™‚

          Dec 03, 2020 03:12 AM

          Biden might be in Jail by then…. lol ๐Ÿ™‚

    Dec 02, 2020 02:42 PM

    Just like the low in March, gold bottomed at the 233 day MA:

      Dec 03, 2020 03:20 AM

      One question……….Why, is the 233 day moving average important….?
      Why use 233 dma….. Just wondering….. thanks…
      From, J. the Long….. ๐Ÿ™‚

        Dec 03, 2020 03:03 AM

        233 is a Fibonacci number and I have found that the 233 MA is sometimes more useful than the much more widely followed 200 MA. The recent low in gold is a good example. The 233 MA marked the low while those who follow the 200 MA might have sold out needlessly when price closed below it for two days…

          Dec 03, 2020 03:07 AM

          If you’re not familiar with Fibbonacci numbers, the next one after 233 is 377 and the one just before 233 is 144. So 233 has quiet a bit of room around it. Here are the Fib-based MAs from 13 to 610 (600 here since stockcharts doesn’t go any higher – close enough):

          Dec 03, 2020 03:17 PM

          THANKS MATTHEW…….good thought on the 233 vs 200 dma…..

    Dec 03, 2020 03:48 AM

    Clive Maund has โ€”The Essay of the Millennium โ€”on Spend the 15 minutes, a must read and printout.

      Dec 03, 2020 03:10 PM

      Half the world could get Russian Sputnik V Covid-19 vaccine, say creators, as Moscow starts distributing doses en masse
      3 Dec, 2020 14:31

      Dec 03, 2020 03:47 PM

      Marty……..I posted your mentioned article, for others…..over at the political spot…..
      I think it is SPOT ON………………jmo
      Death of …from 1947 to 2020……

        Dec 03, 2020 03:04 PM

        Actually, freedom became imaginary after the creation of the Federal Reserve and the institution of the income tax. There’s no way around that fact.

          Dec 04, 2020 04:19 AM

          Well, I would have to agree with that fact…..

    Dec 03, 2020 03:52 AM

    Cory, Gold wasnโ€™t breaking down, it was beingโ€ taken downโ€ that can only be remedied by the reinstatement of the uptick rule, maybe even a double uptick rule

      Dec 03, 2020 03:08 AM

      Ditto Marty……….. they young ones do not get it yet…. LOL…. ๐Ÿ™‚

        Dec 03, 2020 03:09 AM

        they to the….sorry

    Dec 03, 2020 03:22 PM

    Who you calling young Jerry? Your older than me. Am I young LOL!!

      Dec 03, 2020 03:58 PM

      Do not know Charles……how old are you….?

    Dec 03, 2020 03:25 PM


      Dec 03, 2020 03:55 PM

      72 here Charles, that make you a youngun….lol……. ๐Ÿ™‚
      Respect you elders, now….lol ๐Ÿ™‚

        Dec 06, 2020 06:53 PM

        Absolutely! Elders have Devine wisdom! I have learned a lot from you Jerry and I always enjoy your posts, rants and especially the wry humor.

    Dec 03, 2020 03:26 PM

    No more political board Jerry?

      Dec 03, 2020 03:02 PM

      The snowflakes cried to Cory, and the Political board has been relegated to the corner of the board, which you really have to look for it, …if you are new, there is no way you will find it….what a joke….jmo of course……

        Dec 04, 2020 04:22 AM

        Look for the red, white and blue to the left ……that is the new political statement section…..shrinking freedom, ….must to how must conform to the CROWN…. lol