A few of the pundits (David Hickson, Eric Hadik , Chris Vermulen) have independently arrived at an 18 month cycle high in gold due this or next week. I'm leaning towards ignoring it and relying on the longer term gold bullish breakout pattern. Trading in and out of an upmove can be tricky and one can get left behind.
Obviously with the difficult metals market we have had for a long time I will rule nothing out and assume nothing, for me I will do my best to follow the charts and try to discern what they imply, for now the upside IMO deserves the benefit of doubt and it "appears" we have or are in the process of breaking out of the big time sideways pattern, if correct that IMO does not imply a top but instead a large up move in time and price. Have never been much of a cycle guy - perhaps there cycle is a low instead of a high? we see
add on: Just looked at the weekly and monthly miner chart/technicals - really difficult for me to think a high here/soon vs what appears a mkt finally likely turning higher after an extended decline/bear mkt from the Aug 2020 highs.
agree. a small ullback here is likely but the daily and weeklies ar not inIMO