$GLD / $SLV Resistance Now Support - Bullish for $Gold
$GC_F: the Point of Control since 3/23 (which was the bottom for $ES_F) has been a key pivot for five weeks. As long as it holds, the bulls are in charge. Swing lows as $1,680 provide secondary support. Fundamentals remain massively bullish.
While we have a $50 target for silver by the end of 2021, we fully expect it to get smacked in risk-off environments given its importance to industrial activity. When investors are optimistic, silver trades like copper; when they're scared, it trades more like gold. It's had a great run here and while we fully expect to see the ratio get back below 80 in time,...
Technically, gold has been more or less bulletproof since March, finding strong demand on every minor pullback. If the "China Trade War" period is any guide, we are very close to a breakout topside. As long as GC1! stays in the upper half of that regression channel, you're supposed to get long and/or stay long. Bulls may need to wait for the 50-day to catch up so...
$GLD / $SLV Resistance Now Support - Bullish for $Gold
Gold to S&P ratio. Looks like Gold is primed to keep outperforming the S&P if this continue $GDX
Long gold. Where else to be. Hedge the deflation/inflation cycle.
Gold is on the wave #4 retracement. Best entry zone is at 0.382 ~ 0.5 area.
Awesome move this week in Gold. It'd be encouraging to see AUDJPY head lower, which in turn, will not bode well for equities..