Gold Report-By Woody Dorsey
A Review of the Bidding: Gold structures have remained bullish but haven’t gone much of anywhere for some time. It is a good example of how Rationality is usually a poor performer of what to expect in the future. It is a Buy now. And it has another profiled entry near Mid- March B4 going up into May.
Don’t Believe Stories: One is advised against a reliance on Rational Market Stories. They are secretly wishful thinking. The Television is full of folks not only trying to figure markets out but also trying to tell you that they have figured it out. They haven’t. Crises come when they come and are never polite.
Gold Profiles: Gold has been a good performer for many years before turning very sideways My long-term profile has always had a structural high due in 2026ish. That timing puts the current behavior well within the picture for a continued ascent from the monthly congestion. Inflation may not be so transitory!
Gold Weekly: The Weekly history in Gold has been extremely congestive. This price pattern looks like: ‘Kindling’ waiting for a ‘Match.’ Why hasn’t Ukraine, or Inflation or… lit Gold up, yet? Rationality can often be a ruse. Price Behavior tells the ‘Truth’ when it wants to. The timing, now seems to be right again for a defined move. Sell in May
GDX Weekly: The Gold Stocks are breaking out of their extended bases. This is a real response to the real global reality which is now being recognized. Breakouts can be explosive and relentless, particularly if they have been a big base. The next nominal weekly high is near May.
Summary: The Silver timing profile weekly fits with the generic inflation which is being recognized. Albeit it does not ‘look’ as bullish as Gold, but it does have a similar price pattern with the other metals. Thus, a Breakout is also happening here. Allow that. Let’s give it time to keep rising. It can be quick
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Information is for paid customers and may not be copied or distributed Copyright 2021