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Precious Metals Update - 7/28/17

xau/yahoo advance/decline line gold stocks precious metals

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#1 fib_1618



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Posted 29 July 2017 - 10:11 PM

Well...the bad news for the gold bears is that with Friday's close above $1260 in gold, this now cancels the SOB trigger of earlier this month while keeping us humble in our analytical prowess.


Now the good news for the gold bulls is that this same trigger bottom created bullish divergence in the XAU/Yahoo advance/decline line and we have rallied since that time though the yellow metal remains within the confines of the ongoing trading range discussed two months ago. Even better news is that the Precious Metals breadth MCSUM broke out to close Friday at the highest levels since the sell signal back in February of this year. With the longer term time window forecast of the next probable tradable bottom in gold to occur sometime around the beginning of August, any further strength from this juncture would then suggest that the price lows at $1209.70 completed the floor of a basing structure, and higher prices would be anticipated as we move into the 3rd quarter. Helping this forecast along has been a bearishly trending U.S. Dollar along with continued money flow strength in the interest rate asset class which not only suggests cheaper money (inflationary expectations) on the longer end of the yield curve will continue for the next several weeks, but this also promises us higher equity prices in the not too distant future.


Next update will be the weekend of August 26th.





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Wise men don't need advice. Fools won't take it. - Benjamin Franklin

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#2 gannman



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Posted 30 July 2017 - 07:22 AM

thanks what i would like to see is a strong rally here to erase all doubt about the direction


doesnt mean it will happen ha ha but it would be nice to see

feeling mellow with the yellow metal

#3 johngeorge



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Posted 30 July 2017 - 08:03 AM

Thank you Fib


Blessings on you and yours for generously sharing your work over the years with the board.  I too am looking for a correction soon with gold now being overbought.  After that, hopefully, all the ducks are lined up and we head substantially higher removing for gannman "all doubt about the direction".  :)


#4 AChartist



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Posted 30 July 2017 - 09:48 AM

very nice is what I interpreted of breadth in my gold account when it stopped going down, oh it had down days


but then recovered directly.


except my weekly cycles are likely a high in 2 weeks, dip to 1st week of Sep then tear.


I'm not into trading ideology on this and was committed based on my weekly cycles, this is not trading it is


insurance you dont trade in and out of your fire insurance at home. We are certainly into hyperinflation in 


certain rental markets, medicide, property tax, food, junior college diseducation "president" salaries,


to me hyperinflation means tax debt failure. They have insurance for that, and cryptos.

Edited by AChartist, 30 July 2017 - 09:50 AM.

"marxism-lennonism-communism always fails and never worked, because I know

some of them, and they don't work"  M.Jordan

#5 senorBS



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Posted 30 July 2017 - 03:03 PM

bueno stuff Fib, confirms my current Ewave interp that wave iii of a larger wave 3 or C to at least new highs for the year in gold and the miners is now underway, frankly this is where the miners should really start accelerating/outperforming Gold and and power higher and I don't want to nor expect to see a pullback at this time.



#6 AChartist



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Posted 30 July 2017 - 03:45 PM

who knows, Mcquire says a bullioncoin crypto launch will hit the offer with tons next week.

"marxism-lennonism-communism always fails and never worked, because I know

some of them, and they don't work"  M.Jordan

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