What is next after historic gold and silver upside breakouts? Plus mining stocks will be the big surprise.
Gold & Silver Breakouts
January 27 (King World News) – Graddhy out of Sweden: Gold broke out of a blue 13-year cup & handle base 14 months ago. The breakout was very likely to succeed since gold back then was only 15 months into its new 8-year cycle. A breakout attempt that occurs early in a cycle usually succeeds.
And I also warned stated when gold has a massive breakout, silver should follow shortly, which it also did a quarter after gold.
So, gold had its 8 year cycle low back in 2022, which means it is only 2.5 years into this present 8-year cycle. And gold also had a monumental breakout from the blue 13-year cup and handle base only 14 months ago.
With a bull market backdrop like that, do not listen to the ones calling for outrageously low numbers during the counter-trend declines, especially since gold is now in a resumed, raging bull market. After a weekly cycle decline, there always comes a weekly cycle advance.
Beware Of Focusing On Short Term Price Action
Also, many are only into the short term price action. Beware of that. One cannot only look at price action short term in order to understand where things are going. Having done big picture charting for decades, it is easy to see that it is a vital part of the puzzle.
Furthermore, it is important to realize that many narratives are just made-up selling themselves narratives. They are not produced to help you or to give an honest view of things. They are only for getting attention. Or, sometimes they are just a result of not knowing any better.
Plus, sentiment needs to be at the wrong extreme for a turn to happen, i.e. most have to be wrong for a turn to happen. For example, for a meaningful low to happen, most have to be bearish at the turn, i.e. they have to be wrong. Think about what this really means about where you get guidance about the precious metals bull markets.
The breakout calls for the breakouts below was made here and very clear, and hoping you made the most of it. Also said all the way up that it looked like gold was not going to backtest, and it has not, which many have called for.
Historic Gold & Silver Quarterly Upside Breakouts!
Gold
Graddhy out of Sweden: Gold is back at the highs again.
Gold Back To The Highs After Consolidating
Price Targets
Gold $3000–$3300 and silver $40–$45 should be next.
Noted at green dot (on the chart above) that the weekly cycle low (on weekly) was probably in, and that would now see a consolidation pattern forming. We got that in the form of the blue triangle.
Then I stated gold should break out of the triangle to the upside orange route. We got that.
Then stated gold will most probably go back to the highs in this daily cycle. It has now done that.
Next it is likely that gold has a daily cycle decline, either from here or from a slightly new all-time high false breakout.
Gold Miners Set To Explode Violently Higher
Graddhy out of Sweden: The move in precious metals miners has only just begun. The charts are now set up to climb the right side of huge rounded bottoms. However, most will not get into a bull market mindset until it is too late. So for Heaven’s sake, be one that does not miss the move of a lifetime.
This Gold Mining Bull Market Will Be One For The History Books!
Gold Attacking All-Time High!
To listen to Alasdair Macleod discuss gold attacking all-time highs as well as what to expect from silver and mining stocks CLICK HERE OR ON THE IMAGE BELOW.
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