Dorsey Gold Report: by Woody Dorsey.
Mettle for Metal: My Gold Timing cycles allowed for Summer strength with an interim High specifically due near Mid August. That profile has been well ratified. Moreover, the quality of the decline has been sober and congestive rather than overtly declarative. This fits well with the overall Bullish gestalt. My experience is that Weekly timing modes are the best guide to the Gold market for now.
Precious Stories: I advise against any absolute reliance on the Rational Mind. Markets move without obvious “advertising.” Note that Covid, Currency and Political concerns could or, “should” have catalyzed into a serious rip to the upside. Why didn’t they? Gold always knows what it wants. It is hard to realize: Markets really do know best! No one likes them now. So it becomes night time.
Gold Monthly: As forecast for years: “Monthly Highs due in 2020 & 2021.” Gold has done nothing structurally bearish as yet. Yes, it has gone dead sideways in a whimpering correction since my profiled Mid August High. That behavior is perfect. The obvious magnet at the 8/2011 highs was already achieved but the pattern allows for another dynamic push up from the next profiled Weekly Low!
Gold Weekly: The expected correction appears to be concluding. Note the recent positive weekly closes. Yes, the absolute timing profile
still allows for heavy meandering into year end. Wait for it if you want.
GDX Weekly: Repeat: “High was due 8/13-8/25.” Next one is due 3/2021. There is a pattern symmetry for the best Buy nearer year end.
Gold Daily: The Daily chart shows how tricky Gold has been. There have been a few head fakes. Lows likely in but it may stay testy until the next launch.
GDX Daily: The price pattern here is very instructive. Note how messy and persistent the correction has been. But note too that the equities have not been able to go down substantively. That is a bullish tell. May stay messy but, bid it.
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Information is for paid customers and may not be copied or distributed Copyright 2020