After the carnage in the gold and silver markets last week, this will signal that the gold market has reversed higher.
Gold: This Will Signal An Upturn
By Michael Oliver, MSA (Momentum Structural Analysis)
May 8 (King World News) – This report prepared and sent after French election and during electronic gold trading Sunday night, not pit trading Monday morning…
To find out which company Doug Casey, Rick Rule and Sprott Asset Management are pounding the table on that already has a staggering 18.1 million ounces of gold that just added another massive deposit and is quickly being recognized as one of the greatest
gold opportunities in the world – CLICK HERE OR BELOW:
Gold opened lower ($1221) and then turned up, reaching so far a high of $1235, last trade $1231.
Charts here show daily momentum, and what we are looking for are any signs of daily/short-term upturn.
3-day momentum (for today, Monday) would like to see close above $1240 or tomorrow at or above $1235. That would cause a close over the horizontal structure. Consequence? At least it’s a positive sign of an initial rally out of the recent hole and probably the beginning of repair for gold from the recent 5% correction (contrast to 15% correction from September to December last year).
DMA oscillator has a structure, one that traces back to mid-March. Close out Monday at $1229 and that argues at least for a couple days of recovery, possibly enough to wave goodbye to the recent low.
Other short-term indicators also ripe for turn, but best to defer to the 3-day momentum chart above (first chart at top of page).
***KWN has now released the remarkable audio interview with London whistleblower Andrew Maguire and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
***ALSO JUST RELEASED: James Turk – Gold Will Soon Skyrocket Like The Parabolic Bitcoin Chart CLICK HERE.
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