On the heels of another takedown with the gold market plunging $70 and silver over $1, Michael Oliver, the man who is well known for his deadly accurate forecasts on stocks, bonds, and major markets, told investors to remain calm in the midst of the volatility in the gold and silver markets, and also remain patient.
GOLD PLUNGE: Just Be Calm And Remain Patient
August 8 (King World News) – Michael Oliver, Founder of MSA Research: It bears repeating that gold can take longer than we want to overcome prior pivotal highs. It struggled for 16 months (5/2006 to 8/2007) (2ND YELLOW ZONE) to overcome the 1980 peak (1ST YELLOW ZONE) and after breaking out to $1000 it took another 18 months backtesting and basing (3/2008 to 8/2009) (3RD YELLOW ZONE).
By 9/2009 it had broken out again over $1000 and was on its way to the 2011 peak (4TH YELLOW ZONE). This time gold made a new high monthly close in 7/2020 (FAR RIGHT FINAL YELLOW ZONE), so it actually did not hesitate at all at the prior all-time high. Now we are 13 months (AGAIN, FAR RIGHT FINAL YELLOW ZONE) into back-testing the 2011 high. Patience.
Gold Simply Consolidating After Breaking 2011 High
Preparing For Next Move To New All-Time Highs
To listen to one of the most important interviews of 2021 with Michael Oliver discussing gold, silver, and mining stocks CICK HERE OR ON THE IMAGE BELOW.
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