Thursday, March 30, 2023 1:02 PM EDT
Gold Trading Alert today will be quite exceptional as it will be very brief. The reason is simple – practically nothing changed on the charts during yesterday’s session, except for a small move lower in the GDXJ.
This means that everything that I wrote yesterday simply remains up-to-date.
Please note that the rising support line in the GDXJ is not far away, and it can be broken any day now. This would be the first small domino to fall that would probably end up becoming a truly massive decline. But I already discussed that thoroughly in the previous days.
Today, I would like to emphasize what is currently happening in today’s pre-market trading.
Namely, silver soared relative to gold on a very short-term basis. This is a bearish sign. Yes, we saw it a couple of times in the recent days, and there was no massive decline yet, but that doesn’t make it any less important.
Conversely, it’s the case that the repeated indication becomes stronger. So, silver’s performance since March 20 is a big sell indication on its own.
Just as the night is darkest before the dawn, it “seems most bullish” right before the biggest slides.
Stay strong.
More By This Author:
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Silver Prices: This Time It’s Not A Simple Correction
Even A Rebound In Juniors Was Weak
Disclaimer: All essays, research and information found on the Website represent the analyses and opinions of Mr. Radomski and Sunshine Profits' associates only. As such, it may prove wrong ...
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Disclaimer: All essays, research and information found on the Website represent the analyses and opinions of Mr. Radomski and Sunshine Profits' associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided on the Website is based on careful research and sources that are believed to be accurate, Mr. Radomski and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published on the Website belong to Mr. Radomski or respective associates and are neither an offer nor a recommendation to purchase or sell securities. Mr. Radomski is not a Registered Securities Advisor. Mr. Radomski does not recommend services, products, business or investment in any company mentioned in any of his essays or reports. Materials published on the Website have been prepared for your private use and their sole purpose is to educate readers about various investments. By reading Mr. Radomski's essays or reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these essays or reports. Investing, trading and speculation in any financial markets may involve high risk of loss. We strongly advise that you consult a certified investment advisor and we encourage you to do your own research before making any investment decision. Mr. Radomski, Sunshine Profits' employees and affiliates, as well as members of their families, may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.
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