bigg - Steve showed some nice pm stocks last night, some bounced
off their 200 day MA like IAG, AU. I'll cover them on the
weekend newsletter
though as far as the US Dollar, I don't think the rally is done,
it came out of a nice base and I think a pullback on the dollar
will end up forming a bull flag or b wave and then push again, I
don't see it starting a big downtrend again. It of course doesn't
mean gold will move completely inverse to the dollar, I think gold
stocks may follow the market somewhat
as far as gold, the question I have is do we still need to see
gold get a bit closer to its 200 day MA over time. Gold was nearly
1.3X above it's 200 day MA in early Aug and if you go review past
market stats that was screaming for a reversion to mean pullback.
In many of those times gold ended up needing to work closer to its
200 day MA before it was completely bottomed.
we'll see...
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bigg - Steve showed some
If the dollar comes down AEM should pop
Posted by matt on 25th of Sep 2020 at 01:11 pm
bigg - Steve showed some nice pm stocks last night, some bounced off their 200 day MA like IAG, AU. I'll cover them on the weekend newsletter
though as far as the US Dollar, I don't think the rally is done, it came out of a nice base and I think a pullback on the dollar will end up forming a bull flag or b wave and then push again, I don't see it starting a big downtrend again. It of course doesn't mean gold will move completely inverse to the dollar, I think gold stocks may follow the market somewhat
as far as gold, the question I have is do we still need to see gold get a bit closer to its 200 day MA over time. Gold was nearly 1.3X above it's 200 day MA in early Aug and if you go review past market stats that was screaming for a reversion to mean pullback. In many of those times gold ended up needing to work closer to its 200 day MA before it was completely bottomed.
we'll see...