I see a bottom and a rounding up for Silver. This breakout could lead to prices in the 30-35 range.
A quick breakout can lead to some short-term corrections, but price momentum is positive, support is strong, and upside is large.
A clear rounding up will provide the momentum for gold to reach $1900 in the short to medium term.
Due to current Momentum, Gold will most likely test its previous high. Once $1900 is reached, gold will attempt to break above, but I believe resistance will cause it to consolidate or correct.
Ultimately, due to such a large scale printing job by the FED...
Has the market recovery since 09' been caused by huge growth in fundamentals? or the printing of Trillions of dollars?
I wont say the answer, but here is an interesting correlation between the M1/M2 money supplies and the stock market.
Since 2009 the market has increased along with the money supply. We have also seen tech company valuations soar.
Today I outline where I see the S&P 500 moving through the end of the year. It is almost impossible to trace the market exactly, but in general, I see the following things occurring through the end of 2020:
1.I believe we will fill the gap created when the market dropped in late February.
2.Then we will see the market move down and find support at the...
The long-term trend in Oil is bearish.
Due to current short-term positive momentum, I expect the price to consolidate before breaking below various support levels.
Resistance is provided bt the 150 and 250 day moving averages, while support is provided by:
- previous inflection point at around $35 (weak)
- 0.5 Fibonacci lvl (solid)
- Previous low at roughly...