With the Dow staging a bear market countertrend rally and gold pulling back from the $1,300 level, Michael Oliver, who is well known for his deadly accurate forecasts on stocks, bonds, and major markets, just said, “something big is underway,” and despite pullback, gold’s rise will accelerate.
Something Big Is Underway
January 4 (King World News) – Michael Oliver: The behavior of T-Bond futures and gold indicates that something big is underway, and that it’s likely to unfold rapidly rather than gradually. Incremental and nudging trend action goes by the way as rapid action takes over. It happens. The sort of moves that surprise observers and does not allow asset managers and investors the “normal” time to reorient themselves. We expect that in this unraveling…
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Despite Pullback, Gold’s Rise To Accelerate
As this report is being prepared, front month gold has already cleared our final momentum breakout level (see our last Weekend report) and has reached $1300. Previously specified trigger buy levels have already engaged in the past few months. We now expect gold action in coming weeks to move upside faster and in larger chunks. The same is likely at some point soon for the S&P500 the other way, those last trigger numbers specified in our general subscriber report sent 1/2/2019. The Weekend report will update this situation. But so far this week has been informative especially regarding T-Bonds and gold.
Meanwhile, specific levels of interest are: Gold: It has crossed all positive momentum structures that argue for continued strong upside. A weekly close now by silver credibly above $15.50 and a weekly close by GDX (gold miners ETF) above 21 would add to that impetus. To subscribe to Michael Oliver’s Gold, Silver & Mining Stock Report at the special KWN discounted rate of only $269 CLICK HERE.
ALSO RELEASED: Gerald Celente Just Issued A Major New Trend Forecast For Gold, Stocks And The Economy CLICK HERE TO READ.
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