A major update on gold, silver, and black gold was just released…
Gold, Silver, And Black Gold
July 2 (King World News) – Graddhy out of Sweden: The $68 gap is now filled, as expected we would see.
Big oil CEOs are now saying next stop for oil is $150-$160. I posted that 6 months ago, just before the start of the present move.
That is a very important red falling wedge breakout below, for many reasons. One being that it ended the 4.5-year cyclical bear the red falling wedge represents, and resumed the secular bull that started at the covid lows. One other reason being that it kicked off the 2nd inflationary wave.
Been saying for years that we will see at least $250–$300 oil during this commodities bull market.
And in the linked post below I raised that target to $369.
KING WORLD NEWS NOTE: Despite Manipulation, The Price Target For Oil Remains A Jaw-Dropping $250–$369
Oil was at $58.40 when said it was done bottoming at the end of the red falling wedge.
It then rose 100% to $119.
The 4.5 year red bullish falling wedge is probably a halfway pattern, with a price target of $369 (green lines are the measured move approx route).
Since I called the commodities bear market low almost 6 years ago, I have been saying that this commodities bull market is the best opportunity you will ever have in life to get out of the rat race.
When that 2nd pink head & shoulders pattern broke down just before the Covid-crash, I understood that the huge blue head & shoulders pattern was probably going to play out too. And it very much did.
That is the kind of guidance that makes a difference.
Following the right people is absolutely vital.
As said, the $68 gap is now filled, as expected we would see.
And, it is now backtesting the red falling wedge…
Listen to the greatest Egon von Greyerz audio interview ever
by CLICKING HERE OR ON THE IMAGE BELOW.
Gold
Graddhy out of Sweden: Gold is in a 45-year parabolic slingshot-move.
KING WORLD NEWS NOTE: Gold Remains Firmly In A 45-Year Parabolic Slingshot Move
Posted on the blue breakout in real-time, and said then a blue backtest was unlikely.
Target is $15,000–$20,000 since many years back, and might raise it further.
Now in a much needed consolidation/pullback. How long it lasts is probably up to when USD rolls over.
Very Bullish Setup
Graddhy out of Sweden: A perfect, 25-year, bullish falling wedge breakout, and backtest.
KING WORLD NEWS NOTE: Canadian Junior Resource Companies Have Broken Out And Held Backtest vs S&P Metals Index – Coiled To Explode Higher In The Coming Months And Years
The Canadian small cap index TSX Venture is big on mining.
Been posting these historical ratio chart turns in real-time.
The commodities bull is end of rainbow stuff.
Down the road, commodities will be the only game in town.
Vital to follow the right people.
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