Gold continues its surge and silver’s on the move as many technical analysts miss yet another leg-up. Here’s why…
(by Half Dollar) There’s nothing technical about these latest moves.
Which is why all the “technical analysts” out there have pretty much been wrong for most of the year.
In what way?
Well, I’m still seeing calls that the bottom’s going to drop out, but here’s the problem with those technical calls: The fundamentals are exerting themselves into the “market” once again.
I wrote an article (a midweek report) this morning that can be found on *SD_Bull1on’s website, and I’ve broken down the latest moves in gold & silver like this:
We basically have, just off the top of my head, a “hedge against uncertainty”, a move into “safe haven assets”, and an “inflation hedge” all putting a bid into gold & silver right now.
Which is why their charts look amazing!
Silver’s daily chart is making the Chart Huggers look bad:
They were so sure of that head-n-shoulders chart pattern!
Zooming in a little, we can see the momentum has been building:
Check-out that Tuesday turnaround!
Gold’s daily chart looks spectacular:
We’re breaking-out to multi-year highs, again, and we’re now less than a hundred bucks from all-time record highs!
Zooming in, we also see the momentum building in gold:
The saying “the trend is your friend” comes to mind with that series of higher-lows and higher-highs, which have been building towards a break-out.
Zooming in to the 1-minute chart, we see the surge is indeed impressive, especially silver’s surge:
Half Dollar’s Note: Shameless plug time!
Recorded Monday, July 6th:
And recorded Tuesday, July 7th:
Thank you for your consideration!