Junkie If we get some market stability and possible rally
into April earnings, we will lose portion of fear premium in Gold
and get the pull back you suggest.
rbreese, That is one scenario. A less likely scenario is a move
lower based on on some geopolitical events in Europe. Martin
Armstrong has week of April 10 as one of his important weeks for
markets. I see crude oil finishing a bottom and setting up a
seasonal rally into June-July. Many called about $130 per barrel
for 2023. We are likely near the lows of the year. I see an
end-of-trend on /GC on 4-hour charts, but nothing on daily. The
monthly chart of gold is in a squeeze providing a fuel for the
phase transition.
Thus, crude oil up, gold up, commodities basing, stocks
unchanged or lower is that less likely outcome. Indexes have moved
higher only because of FANG stocks.
Keep your powder dry for crude and gold. The risk to reward
ratio is big!
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Junkie If we get
A possible phase transition in rally in gold, according to ...
Posted by rbreese on 26th of Mar 2023 at 09:28 am
Junkie If we get some market stability and possible rally into April earnings, we will lose portion of fear premium in Gold and get the pull back you suggest.
rbreese, That is one scenario.
Posted by junkie on 26th of Mar 2023 at 09:39 am
rbreese, That is one scenario. A less likely scenario is a move lower based on on some geopolitical events in Europe. Martin Armstrong has week of April 10 as one of his important weeks for markets. I see crude oil finishing a bottom and setting up a seasonal rally into June-July. Many called about $130 per barrel for 2023. We are likely near the lows of the year. I see an end-of-trend on /GC on 4-hour charts, but nothing on daily. The monthly chart of gold is in a squeeze providing a fuel for the phase transition.
Thus, crude oil up, gold up, commodities basing, stocks unchanged or lower is that less likely outcome. Indexes have moved higher only because of FANG stocks.
Keep your powder dry for crude and gold. The risk to reward ratio is big!