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Both US political parties enjoy referring to their horrifying debt and money printing programs as “economic stimulus”. They sound like characters in a George Orwell novel, which is quite disturbing.
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Of course, their insane actions are great news for gold. Please click here now. Double-click to enlarge this daily gold chart.
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Basis “Edwards and Magee”, there’s now a breakout from a third fan line. It’s a solid technical green shoot.
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The modest support zone defined by the mid-August low of about $1874 has held well. It’s fueled some decent rallies, including the current one.
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Please click here now. Double-click to enlarge. In the short-term, gold is struggling to break through the $1925 light resistance zone.
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That’s only a minor issue, as is the fact that Tuesdays are often a soft day for gold. The bottom line is that the medium and long-term charts look great.
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Please click here now. Double-click to enlarge this horrifying US dollar chart.
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A gigantic double top pattern appears to be active. A break of the long-term uptrend line seems imminent.
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US politicians seem oblivious to the danger of their obsession with debt ramp-up. The 88 level is the neckline of the double top pattern and a break could coincide with a shocking spike in debt-oriented inflation.
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I’ve talked about an ominous 2021-2025 war cycle. Wars are inflationary and US democrats have a history of being involved in the biggest ones.
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If the democrats win the election, the odds of the war cycle coming to life likely rise dramatically. Large wars have historically been financed with… inflation.
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Technically, the target of the dollar’s double top pattern is about 73. That could coincide with my $3000 gold target price.
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Regardless of whether crazed republican debt worshippers win the US election or crazed democrat debt worshippers win, the dollar chart’s implications are clear; something very bad is going to happen soon after the election is over.
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A loss of confidence event in the dollar would have catastrophic implications for US stock, bond, and real estate markets… and for the government.
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A 1970s type of stagflation could occur in America, and it would almost certainly be coupled with an acceleration in the rise of 1.4 billion gold-oriented citizens of China as global empire leaders.
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Please click here now. Double-click to enlarge. Silver is a “must own” asset during times of inflation and so are the companies that mine it.
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On this daily chart, there’s a large flag-like pattern which targets not just the $30 area highs, but also the $46 zone!
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Please click here now. Double-click to enlarge this awesome SIL ETF chart.
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When the price of any investment item arises to a round number, breaks an Edwards and Magee pattern of higher highs and higher lows, and snaps a significant uptrend line, a reaction is to be expected.
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In the precious metals market, traders can sell these warning signs in anticipation of a reaction, and both traders and investors should be ready to buy the dip!
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The dip has occurred, and it’s taken the form of a drifting rectangle. Green shoots are in technical play. Investors can buy, with an optional stoploss under the recent lows. An upside breakout seems imminent.
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Please click here now. Double-click to enlarge what is probably the most spectacular chart in the current precious metals market.
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This weekly GOAU ETF chart sports an inverse head and shoulders bull continuation pattern, a breakout over the neckline, and a pullback that takes the form of a beautiful bull wedge.
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If investors are not involved in the miners, now is the time to take a position. Then, sit back and enjoy what should be a spectacular rally that carries GOAU to my $40 target zone!
