With the price of gold continuing to hold the $1,450 support area, it appears a Comex whale may fuel a gold bull run into January and beyond, plus silver and silver stocks coiling for a big surge.
Comex Whale May Fuel Gold Bull Run Into January And Beyond
December 2 (King World News) – Alasdair Macleod: “When Comex gold saw 107k contracts rolled forward last Tuesday it indicated a whale with a 300 tonne long position. Perhaps it knows something not in the public domain, eg. the truth behind repo crisis. No one takes out such an extreme position as a pure punt…
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That being the case we can discount the market being very overbought, which would reflect undue price optimism. Adjusting for a possible whale shows the managed money category to be slightly oversold, which is bullish and can support a decent run into January and beyond.”
Silver & Silver Stocks Coiling For Big Surge
Graddhy out of Sweden: “We now have breakout for the silver miners above my blue consolidation triangle. A close above previous high at 10.827 confirms the BO. Have put in ICL (Intermediate Cycle Low) as I can’t see this going back to the lows (still unconfirmed). My green rounded bottom pattern for pm is still on track. (See below).
Silver Stocks Breaking Out, Confirming Green Rounded Bottom
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