Posted by steve101 on 22nd of Jan 2017 at 08:30 am
Price Pattern Sentiment
Indications and Upcoming Expectations
The analysis I am going to provide you this week is quite simple.
As long as the GDX remains over its support region between
20.50-21.65, silver over its support between 16.10-16.50, and GLD
over its support between 110.50-112.65, you should view this market
bullishly. Moreover, a strong move in silver through the 17.50
region is your initial confirmation that the market may have begun
its next rally phase back towards the highs of August 2016. Once we
reach that region, I will expect a multi-month consolidation,
likely in the spring or early summer, which will set up the next
major run in the complex later this year.
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Seeking Alpha - their best precious metals guy. Matt kicked his butt at August high 2016 as he got out 2 weeks latter.
Posted by steve101 on 22nd of Jan 2017 at 08:30 am
Price Pattern Sentiment Indications and Upcoming Expectations
The analysis I am going to provide you this week is quite simple. As long as the GDX remains over its support region between 20.50-21.65, silver over its support between 16.10-16.50, and GLD over its support between 110.50-112.65, you should view this market bullishly. Moreover, a strong move in silver through the 17.50 region is your initial confirmation that the market may have begun its next rally phase back towards the highs of August 2016. Once we reach that region, I will expect a multi-month consolidation, likely in the spring or early summer, which will set up the next major run in the complex later this year.