Saturday, June 18, 2016

Gold Bugs Index High Early 2018

This projection has been on my radar for many months, it now looks quite possible that the Gold stocks have seen their low and will break out of the big wedge without testing the lower line of that wedge again, this is of course in contradiction to Armstrong's strong dollar prediction because it seems quite unlikely that both the dollar and gold can go up together.



2 comments:

  1. What is even more unlikely is the lockstep advance of TLT and $HUI!

    http://stockcharts.com/c-sc/sc?s=%24HUI&p=D&b=5&g=0&i=t30804001365&r=1466328641719

    The thing that bothers me about gold is the price. Projecting a rally like the one that started in 2001 or 2008 for that matter is somewhat suspect--there is a lot more downside risk now than at $300 or $700 per ounce, and as we have seen with NIRP, there are no rules.

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  2. Silver shows very strong support, I doubt very much we will see 13 silver again and that then also argues the low in gold is probably in now, Eric Hadik has been looking for a good correction this fall which will be a second chance for those who missed last winter's lows, that is what I am seeing now too.

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