You've made some very good calls no doubt, ... this one is inline with how you view the markets. Nice work.
Golds up nicely this morning in premarket, making a high of $1,288.40 thus far, lets hope it holds, we will see if the miners tack on some more gains or if they take a breather, I have a lot riding on Physical gold and Silver, I'm hoping we get to a sustainable point, its been a yo-yo PM market for far too long.
Gold has a Solid Base directly above where today,s price is, the $1,290+ area and just below $1,300 (black square) while the lowers are approaching overbought, I'm hoping this is going to be a February through mid March type of move and not an early April to mid April type, just look at the W%R in those time frames, it will reflect the action on the bar-chart. Its nice to see it sticking its head above the short term upper trend-line this morning.
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I see the dollar is down this morning, as the lowers are nearing oversold now, but as I stated weeks ago, ... it left some work behind in and around the $79.40/20, this drop could be one that mimics mid Feb to mid March, the lowers scaled the bottom for around a month. The longer and lower it goes, the better the chances for a sustainable gold rally, the lower levels in gold I spoke of in recent weeks, ... just might come to pass.
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