Bo is calling it on June 26th, which is tomorrow, it does not mean that gold and silver are going to tank tomorrow or the next day, ... it just means that an intermediate top (#5) will be printing by the end of the month, ... as you saw in the link I provided with my sentence at the top and also in his chart.
We really dont have many days left this month anyway, Monday is the last day.
I post this due to several emails I got wonder if I subscribe, .. no I dont.
Its really not hard to figure out, ... golds been forming a bearish wedge over the past week, its failing to close above the $1,320, the best its done is $1,390 and that was the day it spiked up sharply on not so convincing volume, ... and its angle is bearish, its leaning up, and it never back-filled its pivot. It has to move one way or the other in the next couple of day's, ... I mentioned this earlier in the week that by Thursday, something needs to form, and thus far, its failed to rise, "but its not too late still, it can happen tomorrow or even by Monday".
So if you look at the EMA's, ... the 200-day is still supporting gold at this time, as gold bounces off of it while failing to achieve yet higher closes, ... so if gold cant breakout again and move above the $1,331 which is that next peak to the left, ... before months end, we are probably headed back down to the low $1,200, not a whole lot of support in this last bounce higher, and since quarterly statements are due, ... I'm sure managers with profit will add the gains to the tally for its customers.
Add the fact that the lowers are all in overbought territory with the MACD bars now leveling off and near shrinking, ... we have the potential to see lower levels at some point, and that point is very near.
When the MACD purple line stalls at center, a reversal is usually just around the corner , so what he is offering is no more than what Rob and I have been talking about on this board over the past week or two, the TA signals I am getting are not inline or in coordination with whats been going on, ... on this latest move higher, it is getting influence of sorts.
The bottom line is this, ...The point I've been trying to make here, as he is, ... is not so much a stall or a "Cycle Top" as he calls it, ... but rather that this might be the last opportunity we might have to buy back-in at a lower level, ...a Discount from these levels, ... and all those miners that left gaps and pivots below, will have a chance to correct before a sustainable move occurs.
All this "IF" TA proves to be correct, heck, ... we could wake up tomorrow and see gold $50 higher, ...lol, .. TPTB have had their way with us for years now, ... it could continue.
Thank You for your Emails, ... I didn't know you folks were visiting our board, I'll just say that they where not from the regular posters, ... and its too bad Beam, Slowmo and S_W have been absent. |
