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Gold/Mining/Energy : Gold Price Monitor

GDXJ 124.11

-13.6%

Jan 30 4:00 PM EST

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To: Sun Tzu who wrote (113012)	11/9/2020 11:49:00 PM
From: Rarebird	1 Recommendation Read Replies (1) of 116955

The Gold and Silver market are currently in a Wave 4 consolidation since the August top. It has now been over three months since the top. Wave 5 can start at any moment. One thing you need to be aware of is that Wave 5 tends to be the strongest and most magnificent rally in Gold and Silver. Once it begins, it will take Gold and Silver directly to its August highs before there is any consolidation. That is to say, it will happen fast. The consolidation from the August highs will be short timewise and shallow price wise before the next surge in prices. That is my understanding of the nature of Wave 5 in the metals complex. The risk, as I see it, is not being long this market right now. Time, of course, will tell. But the clock is winding down for $20-21 silver. If it doesn't happen over the next 3 weeks or so, the odds of it coming to fruition is quite slim.

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