Inflation is the theme but why are commodities one of the most volatile sectors currently?
Sean Brodrick, Analyst over at Weiss Ratings joins us for a discussion focused on inflation and commodities. We look at the recent higher inflation data balanced with the pullback in commodities broadly.
Click here to follow along with Sean’s comments at the Wealth Wave website.
The above is all of YESTERDAY’S Silver Forum.
just a warning…something is up…/GC has a TD9 top count(Tom Demark) on daily weekly and monthly charts…not common for such harmony….Gold needs to reverse higher soon to negate this triple header of flagging momentum signals…But right now the message from the charts is that momentum up is under a challenge….TAS resistance daily is 1909 and weekly is 1919…clearing those sequentially would begin momentum up in price once again…..first downside target on daily is TD9 breakout at 1820.90 candle low…Those are the parameters for breakdown vs. breakout
/GC from the 3/31 low I am looking for a Gartley buy on this retracement…..the .382 is at 1828 near the TD9 breakout area…So some good confluence for support….The ABC down 1: 1 target is 1843…..
Added to Emerita and Big Ridge this AM.
Larry,
Thanks for your input and thoughts on the charts.
Not sure if you read my piece yesterday but same parameters $1823 was a number I throughout. Matthew went slightly higher with rising moving average.. Give or take it’s the 38.2 I’m looking for as well this based on a prior trend I’m following and strength in gold.
Unless the double bottom In gold was not a bottom then I would be raising caution here. I think most believe the bottom is in. So with that being said we should have a sharp turnaround anytime soon. I’m wishful se end the monthly $1950-$1960 is what I would like to see.
I meant unless the double bottom in gold was not the bottom then I would raise caution. I don’t think that is the case here.
If the shit hits the fan then I’ll just have to wait it out longer and we would hope and the summer brings in the bottom in these minors but I don’t think that’s the case. I’m getting on minors getting ready to run higher and possibly print some incredible numbers. I would expect them to Top around end of July or August and then have a two month correction.
I believe that when the minors do put in an intermediate top or around that time second quarter earnings will be released by companies and I heard of investors will jump in just as we correct.
Remember those second quarter earnings will have to be revised at much higher gold price and silver price.. 😉
Hi Glen-It is always interesting how different but valid methods come to the same numbers almost spot on…..1826 in my approach is simply the 1,27 expansion level of this ABC down….i posted my /GC chart on the next show above…maybe Mathew was reading the 100 ema…I did not see that…His charting work is masterful….
Hey Larry it sure is and it’s great to bounce thoughts and ideas off each other. Yes Matthew is one of the best I have seen mentioned that planet a times. As I’m typing gold is dropping $1823 here we come? Miners look to be holding the Fort this is a good sign but let’s see how we finish .
SILVER FORUM TODAY
First gwen preston:
https://www.youtube.com/watch?v=cnMZAroVpj8