A big picture look at Gold. Gold's 8-year cycle was likely hit last year and the next cycle will bottom sooner, looking for late 2022. We are in a nasty sideways ..
If government subsidies have ended, the $300/check per person and Christmas season is coming, then we should see people looking for jobs. Gold remains stuck here, not trending.
The US stock market continues to struggle, and the miners look ready for a major rally. Oil is making a beeline towards my $100 round number target, but I expect to see a price of $200 ...
$1,790.10 is the 18 week moving average for gold and remains a difficult resistance. Gold needs to hold $1,747.70 to hold bullish uptrend in the short-term charts.
When IBM poked above that high, it accomplished two things psychologically: 1) it made bulls more confident than ever; and, 2) it gutted and disemboweled the very last of the bears..
