Key Buy & Sell Zones For Gold Stewart Thomson
March 31, 2020
Gold is majestically postured now, because America’s government and central bank continues to borrow, spend, and print money with surreal intensity.
The light at the end of the tunnel is a stagflationary freight train.
Please click here now. Double-click to enlarge. A beautiful inverse H&S bull continuation pattern is in play, with a target of $1975!
Please click here now. The red hats waved joyously in the air have been replaced with hand pump respirators from the stone age.
The hospital ships will be filled beyond capacity almost as soon as they open and social distancing is a farce.
- The sad fact is that America is still walking the streets in close contact and Corona is spreading faster than a wildfire.
- There is some good news though. To view it, please click here now. As I predicted, China’s economy is making a V-bottom!
- Please click here now. Double-click to enlarge this Chinese stock market ETF chart. I own it and I like it. China feels quite stable now, and America feels highly unstable. I like being invested in stability.
- Will Corona infect US police departments, and if so, is a breakdown of law and order in the cards? Unfortunately, I’m predicting that is what lies ahead.
- The US stock market can rise in this mayhem, but the nation is in a depression. Because the government and citizens failed to take quick action, there won’t be any V-bottom for the US economy.
- The Fed predicts 30% unemployment is coming to America. What’s their plan of action to help? Well, in an act of pure insanity, the Fed is printing money and using it to buy ETFs on the stock exchange!
- This, while exhausted nurses work shifts on ridiculous hand pump respirators trying to keep patients alive. The bottom line: Socialism for the rich, while Corona ravages the nation.
- America’s central bankers are beginning to look psychotic.
- Please click here now. Double-click to enlarge this GDXJ chart. It’s important to follow the rules.
- The rules I’m talking about are the rules of HSR. Horizontal support and resistance. It doesn’t matter if you are bullion-oriented or miners-oriented. What matters is buying silver and the miners only when gold is at major support, and selling when you have a big profit with gold at resistance.
- Investors who followed the rules bought GDXJ when gold traded near $1450. They sold when gold surged to $1700. That’s how to make 40% in a week… while sitting in a bunker!
- Please click here now. Double-click to enlarge. Investors who followed the HSR rules also did well with the GOAU ETF.
- There is often a lot of time between HSR events. It takes patience to follow the rules. The big zones to focus on now are at $1400 and $1700.
- Nobody, including me, wants to see gold trade at $1400. It can happen, and unlike the pathetic preparation the US government did for the Corona war, I want gold bugs preparing all the time, to fight price wars on the gold, silver, and mining stock gridlines…. Price wars they can win!
- If gold can move above $1700, then $1700 becomes a significant support zone, aka “buy-side HSR”. $1800 is the sell-side HSR zone of importance above there.
- What about the short term? Well, for that, investors can look at my https://guswinger.com trading service. We shorted gold yesterday via DGLD, and the trade looks good.
- NUGT and DUST are being revamped as double-leveraged trading vehicles instead of triple-leveraged. Because the price is calculated daily, they should never be used as long term investments. There’s far too much slippage.
- Please click here now. Double-click to enlarge this SIL ETF chart. There’s a bear wedge in play and volume is a bit negative.
- None of that should bother anyone following the HSR rules. Some analysts are looking for a “test of the lows”, but my focus is getting investors prepared to buy SIL, GDX, GOAU, GDXJ and individual miners at gold $1400… while cheering that a mighty blast over $1700 will be the next major move for gold. In my professional opinion, the odds of $1400 happening are 30%. The odds that $1700 comes next are 70%!
Mar 31st, 2020
email for questions: email@example.com
email to request the free reports: firstname.lastname@example.org
|Tuesday 26th May 2020
Special Offer for 321Gold readers: Send an email to email@example.com and I'll send you my “ETFs Versus Individual Miners!” free report. I highlight the unique risks and rewards associated with key individual miners and ETFs, so investors can decide whether to own the miners, the ETFS, or both! I include buy/sell points of action for each item.
Updates Subscription Service: Note we are privacy oriented. We accept cheques.
And credit cards thru PayPal only on our website. For your protection
we don't see your credit card information. Only PayPal
|Subscribe via major credit cards
- or make checks payable to: "Stewart Thomson" Mail
to: Stewart Thomson / 1276 Lakeview Drive / Oakville, Ontario
L6H 2M8 / Canada
is a retired Merrill Lynch broker. Stewart writes the Graceland
Updates daily between 4am-7am. They are sent out around 8am. The
newsletter is attractively priced and the format is a unique numbered
point form; giving clarity to each point and saving valuable
Thomson is no longer an investment advisor. The information provided
by Stewart and Graceland Updates is for general information purposes
only. Before taking any action on any investment, it is imperative
that you consult with multiple properly licensed, experienced
and qualifed investment advisors and get numerous opinions before
taking any action. Your minimum risk on any investment in the
world is 100% loss of all your money. You may be taking
or preparing to take leveraged positions in investments and not
know it, exposing yourself to unlimited risks. This is highly
concerning if you are an investor in any derivatives products.
There is an approx $700 trillion OTC Derivatives Iceberg with
a tiny portion written off officially. The bottom line: