Jump to content

Gold/Silver rally at an end?


Mercury

Recommended Posts

For now perhaps this leg of the rally is over but long term, once the stocks and bonds market bubbles burst I think Gold and Silver will soar.  Commitments of Traders (COT) data are at all time highs for Gold and Silver and the non commercials are uniformly bad at calling the end of a trend, piling in just as the trend concludes.  Last week there was another COT surge in Silver, although Gold backed off a bit (cold feet?).  When main stream media start singing the praises of something that usually spells the end too.

 

Check out this article (link below).  I agree with the Black Swan moment and I think that will be asset bubbles bursting all over the place but we aren't there just yet.  I think we need to see another leg up in the suckers rally on stocks first and that could result is a coincidental drop in Gold/Silver to a retrace support point and then...

 

Anyone got a view they would care to share, especially to the contrary?

 

https://news.markets/commodities/gold-rallys-seen-best-days-rbc-23594/

 

Link to comment

That was fast, good ol' NFP, I guess the market is now reassessing their probabilities of a Fed rate hike upward.  I think we can declare the current Gold and Silver rally aborted, at least for now.  I remain long term bullish but we need to see a significant retrace into an EWT Wave 2 retrace point before the next very strong rally wave.  There are several possible turning points so we will have to track it and see but so far I think we have already seen the A-B part of an A-B-C pull back so I expect this next move down to be a fairly strong 1-5 wave affair.  50% Fib is the most likely on this market in my view.  For now Shorting Gold and Silver is the way forward until that Black Swan moment arrives.

 

Anyone got a view they would care to share?

Link to comment

Archived

This topic is now archived and is closed to further replies.

  • General Statistics

    • Total Topics
      23,562
    • Total Posts
      96,860
    • Total Members
      44,137
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    1Richard1
    Joined 28/11/23 21:55
  • Posts

    • Because of this, it's wise for traders to thoroughly investigate exchanges before choosing one. I exclusively deal with cryptocurrency exchanges that have declared proof of reserve in the wake of the unfortunate events that saw some go bankrupt and others hack. Because of what I've heard traders say about Bitget and the fact that it met my requirements, I had to start using it right away. Therefore, I'd advise DYOR to choose whatever best meets your needs.
    • The Santa Rally – Christmas Growth in the Stock Market. You may well of heard of the ‘Santa Rally’. It’s a commonly discussed stock market theory. It is the basic concept that the stock markets, particularly the major indices, show positive returns on the run up to Christmas and the New year. Myth or legend? We look at the stats.  As you can see from the below table the FTSE100 rose in price in 12 of the 15 years. That’s 80% of the time. The average difference was 1.95% https://moneysandi.com/the-santa-rally-christmas-growth-in-the-stock-market/ Anyone had any experience of trading this?  #trading #money #trader #investing #investment #crypto #stockmarket #stocks #business #invest #entrepreneur #finance #investor #daytrader #daytrading #trade  #wallstreet #wealth #santarally #finance
    • It all boils down to the exchange's dedication to protect customers' assets. Apparently these exchanges that haven't recorded any hacks for 5+ years of functioning like the case of the first exchange you mentioned, are working behind the scene to make it happen. HTX and the likes need to do more and save the industry’s reputation already. 
×
×
  • Create New...
us