Dorsey Gold Report Update: 12/17/2020 My Timing pattern forecast a Gold High in August. I noted a month ago that: “the timing profile allows for heavy meandering into year end.” It happened. The energy has changed to strength.
The Stuff Story: Covid and Political concerns “should” have been real bullish for Gold. They weren’t. Markets always seem to wait until they are ready and no one else really is! Somehow they always know best! The real Story is Inflation. Big signals in Bitcoin and Bonds are now bringing all hard assets into play.
Gold Monthly: I had forecast another Monthly High in 2021. From 11/17: “The pattern allows for another rally from the next profiled Weekly Low!” When was that due? About Now. The next weekly high is due early next year but that gives an overt greenlight to this asset to deciare its interim strength now.
Gold Weekly: Note the extended correction in time in the weekly chart. Yet price had only grudgingly moved lower. That is a bullish tell. I expect this strength to last into early next year and beyond. It begins.
GDX Daily: The Daily chart shows an elongated congestion. My timing suggests this rally now. There is plenty of time for it to rally. This is only the beginning. I will update you when the next interim trading high in Gold is forming.
GDX Hourly: I have been waiting for a declaration in this price pattern. Note the gaps higher today and on 12/15. These micro surges signal a new energy in Gold. The volume spikes and breaks above key resistance are bullish.
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