Today Michael Oliver, the man who is well known for his deadly accurate forecasts on stocks, bonds, and major markets, shared with King World News his thoughts on what is really happening with the gold market right now.
Gold’s Big Picture Setup
June 25 (King World News) – Michael Oliver, Founder of MSA Research: Lookback at one of our recent “acceleration phase begins!” signals. Long-term metrics we are speaking of, not the weekly or short-term metrics we are currently monitoring (in this report). There were other long-term momentum factor breakouts as well, all pretty tightly together, such as 36-mo. avg. momentum and 100-wk. avg. momentum (shown in reports leading up to this coincident breakout back in March by 200-wk.). This one engaged at a couple levels, as noted. There were similar long-term momentum breakouts produced by GDX and silver in March and early April.
Current tight price and momentum congestion is not the normal behavior one should expect at any sort of top. Instead, it’s a tight fist of ink.
“Tight fist of ink”
Gold’s Gap And Consolidation Has Been Powerful
And always remember, silver and the miners are wilder sometimes in their behavior, but they do follow gold, the mama market. And in the coming months will lead in terms of percentage gain.
Downtrend structure plotted through several peak weekly oscillator closing readings going back to 2020. Horizontal plotted across two prior years of highs. This is only one page of a major report. To read the rest of this important report, which has remarkable updates on gold, silver, mining stocks and so much more (7 pages long!) you must be a subscriber. To receive the special KWN discount to subscribe to Michael Oliver’s internationally acclaimed MSA Annual Research which is used by professionals and serious investors all over the world CLICK HERE.
Wild Trading In Gold & Silver!
To listen to Alasdair Macleod discuss the wild trading in the gold and silver markets this week and much more CLICK HERE OR ON THE IMAGE BELOW.
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