Look at what is collapsing, what is about to blastoff and a big shock!
Mining Stock Blastoff Ahead
August 16 (King World News) – Graddhy out of Sweden: Big moves take time to build. Still backtesting the 13 year blue line. Plus still squeezed between blue support line and black resistance line. When we break out above black line, the move will be huge, and it will be game on. Expecting this to reach at least all-time highs. (See chart below).
BIG MOVES TAKE TIME:
GDX vs Gold Still Backtesting Blue Line Before Blastoff
Light At The End Of The Tunnel For Gold & Silver
Ole Hansen, Head of Commodity Strategy at Saxo Bank: Gold finished last week on a firmer footing after a much weaker than expected University of Michigan sentiment (see below) helped deflate some of the buildup taper angst with Treasury yields and the dollar traded lower ahead of the weekend. Both paused their retreat overnight with gold and silver drifting lower as a result. A major band of resistance has emerged between $1790 and $1815 while support needs to hold around the $1750 area. Following last Monday’s flash crash, speculators slashed their gold and silver net longs by more than 50% leaving the market exposed to fresh buying on a break higher. This week the market will be watching a speech by Fed chair Powell, as well as minutes of the Fed’s last meeting.
Managed Money Puking Gold Longs
Managed Money Also Puking Silver Longs
New interview from legend Doug Casey discussing gold, silver and
global chaos! To listen click here or on the image below.
Gold & Silver
James Turk: Last Sunday’s manipulation sent gold & silver to test low of 1-yr trading range. Both bounced from oversold. Now need both precious metals back above $1800 and $26 to improve odds that Monday’s low is as significant as Dec 2015 low. Gold’s 5k history as money does not end here. (See chart below).
Gold Needs To Break Above $1,800, Silver $26
US 10-Year Treasuries Continue To Stun Traders
The Daily Shot: Dry bulk shipping costs hit a multi-year high last week. (See chart below).
MORE TRANSITORY INFLATION:
Baltic Dry Shipping Index Hits Another New High
The Daily Shot: US households’ expectations of personal finances deteriorated sharply this month. (See chart below).
US Households’ Confidence And Expectations Of
Their Personal Finances Is Collapsing!
***ALSO JUST RELEASED: STAGFLATION: Gold & Silver Bull Market Stampede CLICK HERE.
***ALSO JUST RELEASED: Greyerz – We’ve Entered The Dangerous Period And Final Endgame For The Global Financial System – Here Is How Much Time Is Left CLICK HERE.
***To listen to Alasdair discuss the turn around in the gold market and what investors should expect next CLICK HERE OR ON THE IMAGE BELOW.
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