Gold & Silver Bullish Technical Pattern Emerges On Dollar Weakness

By Chris Vermeulen of Technical Traders.com

Technical Trader, Market Forecaster, and Author • Aug 22, 2020 at 8:33 PM EDT

The US Dollar has hit support and we see a bear market bounce that is coinciding with a short term correction in gold and silver.

Interview Highlights:

We are in a euphoric phase near the end of a bull market. Only a few leaders are holding up the market. Lagging Dow Jones and industrials indicate weakness.
Put/call ratio is at levels even greater than 2018 when the market dropped 20% and in 2007 at the bull market top.
Short term bearish on gold and silver with gold potentially hitting support at $1810 and silver $22.
The US Dollar has hit support and we see a bear market bounce that is coinciding with a short term correction in gold and silver.

Length: 00:21:20

Disclosure:

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