MQP 27 LIQUIDITY CRISIS DRAFT 2
HEADER - It's hard to see gold getting out of this one.
SUMMARY - Highest inflation in 40 years and gold keeps getting destroyed. Fundamentals? Really?
DETAILS - Today is 7/12, Wednesday 7/13 is CPI and also full moon, 7/14 is PPI. FOMC is 7/27. All combined regressions say this week closes (which is end of day 7/15 or 66 hours out) at 1580-1620. Links for last 2 posts below. While working on 23 WINTER IS COMING 1766-1770 was the pivot. It could break, but needed a stick-save to hold the curves. We are way past that now for several days. Price patterns bearish short and intermediate and long term. Realistically, it would take 18-24 months to rebuild a legit bullish outcome. That's a really tough sell. I think this is it for gold bull thesis. Have a good week and good luck trading.
SUMMARY - Highest inflation in 40 years and gold keeps getting destroyed. Fundamentals? Really?
DETAILS - Today is 7/12, Wednesday 7/13 is CPI and also full moon, 7/14 is PPI. FOMC is 7/27. All combined regressions say this week closes (which is end of day 7/15 or 66 hours out) at 1580-1620. Links for last 2 posts below. While working on 23 WINTER IS COMING 1766-1770 was the pivot. It could break, but needed a stick-save to hold the curves. We are way past that now for several days. Price patterns bearish short and intermediate and long term. Realistically, it would take 18-24 months to rebuild a legit bullish outcome. That's a really tough sell. I think this is it for gold bull thesis. Have a good week and good luck trading.
1) interesting price action since 1695 today...
2) looks like a reveresal developing
3) but it's very temporary
4) that said, i took money off the table and waiting for 1730-35 reaction