Michael Oliver, the man who is well known for his deadly accurate forecasts on stocks, bonds, and major markets, communicated to King World News that investors should not believe the false notion that the gold trades opposite the US dollar.
Gold now
October 19 (King World News) – Michael Oliver, Founder of MSA Research: There was a sharp price drop in February; a marginally lower low at the end of March; and then another marginally lower low this summer. And now, so far, a higher price low in the recent drop. Last week’s close was $4181 vs. the summer low of $3955.
Meanwhile, as price more or less congests in a zone “around” the lower $4000 area (as it has done since the early February low), momentum is congesting above the 2020 surge high and above a gradual downtrend across peaks going back to 2011.
Therefore, MSA can’t be bearish on a long-term trend basis as apparently so many price-chart analysts now are. Sufficient and clear structure on momentum (to break) has simply not been developed, whatsoever. Contrast this with the optimal structural set-up by annual momentum prior to the 2012 sell signal. KING WORLD NEWS NOTE: The commentary and chart above were part of a much larger special report on gold, silver, miners, the stock market and more released by Michael Oliver. You must subscribe to Michael Oliver’s MSA Annual Service to get his special reports as well as his stock picks which have dramatically outperformed. To receive the special KWN discount to subscribe to Michael Oliver’s internationally acclaimed MSA Annual Research and gain access to their research and stock picks subscribe today by CLICKING HERE!
We Are Near An Upside Explosion In The Price Of Silver
To listen to Nomi Prins discuss what will create an upside explosion in the price of silver and much more CLICK HERE OR ON THE IMAGE BELOW.
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