Today Michael Oliver, the man who is well known for his deadly accurate forecasts on stocks, bonds, and major markets, communicated to King World News a very quick update on the war in the gold market.
Gold
February 22 (King World News) – Michael Oliver, Founder of MSA Research: We noted in the last weekend report that silver broke out above its weekly momentum structure last week but gold is still pending.
We need a weekly close this week at $2061.20 to provide consensus of upturn from gold’s recent rangebound situation.
Silver Has Already Confirmed Its Upside Breakout. However Gold Remains Roughly $30 From Its Upside Breakout
Or next week it’s estimated that a weekly close around $2054 will break out. A similar situation with GDX, et al. Miners have clearly defined overhead weekly momentum structures but have not yet broken out.
Next Week Gold Above $2,054 Confirms Upside Breakout
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