We are at the maximum distance in gold where we want to see the price go for a daily cycle low. Everyone is now scared to go long, gold needs to hold the current price support and not allow the gold cartel to take it lower. Today is key.
The sell-off today in the gold and silver market was unadulterated, blatant price manipulation confined to just the CME paper gold trading arena using Comex paper gold contracts.
FOMC is not going to make a move in 2021, that is clear. Gold fell down to its 100-DMA and is looking to find a bottom. The market is oversold, the price will find resistance now near 200 DMA around $1,852.
Oil, Bitcoin, SPX, NASDAQ, Copper, Gold and Silver. Gold is getting late in the daily cycle low, we are due for a bottom any day now followed by a very big move to the upside.
The major attack on Friday was a pretty big clue that the cartel is not done. The choppiness recently is evidence that they are having trouble taking gold down.
