Golden Surprise

I want to open up part of my weekend report discussing GOLD, SILVER, and THE MINERS. I have been saying that using Cycle Timing (among other things), we are due for an UPSIDE SURPRISE. Let me get right into the discussion that I had with my premium readers this past weekend…

USD DAILY  – This was July 15 and if you read the chart, I thought that the USD could bounce once more, but then drop. Why? LOOK AT THAT MACD WEAKNESS and overhead resistance.

USD DAILY JULY 19  – So we got the bounce and the USD was rejected at resistance. A bear wedge was also now being pointed out by me. A drop in the USD is good for GOLD…

USD DAILY NOW – Friday showed that day 8 was likely the top, The USD Dropped below the 10sma. I see a swing high and this is overbought. The USD selling off should help Precious Metals…

USD WEEKLY – Rejected again and again at the double resistance on a weekly, it looks like the USD is ready to finally drop ( and  GOLD should rally).  What? The Long awaited ICL in Gold? I think so. Let’s discuss Precious Metals now that we’ve seen the US Dollar situation…

PRECIOUS METALS

GOLD KEEPS DROPPING, BUT I HAVE SEEN THIS BEFORE MANY TIMES. I really have. Often people keep trying to buy the dips & remain very bullish when an ICL is due, but they must keep getting stopped out until fear prevents them from believing that GOLD is still a good buy. This is the very kind of selling that is designed to “Flush out the weak hands” and to “Change the bullish Sentiment by emotionally scaring people away” while bigger players can enter.

You will read many reasons why ‘Precious Metals are toast’, ‘Gold is an Old relic with no value’, etc. etc. at an ICL. Ignore the crowd mentality, an ICL will form and Gold is going to rally.

COT – The COT , as of last Tuesday, was slightly better than last Julys ICL, and better than Decembers 2017 too. Gold dropped a bit more last week, so it probably even got better.

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