Gold hit a big support level and rolling fibonacci bands support this level.
If treasury bond yields hit a panic high yesterday,which I think happened we will at least have a slight softening of real interest rates for a while.
banks can easily buy T Bonds with yields at this level and hold them for a while as they are financing at zero rates so they will be...
The chart of S and P shows a type of broadening formation.
Looking at the way it behaved we can now calculate that we have slightly surpassed the 2020 February level from which we crashed if we consider the Dollar devaluation over the same period and convert the index into lets say Euros.
If we look at the Dax for instance we are just above the February 2020 ...
The Euro broke the long term down trend some time ago.
It consolidated and is now ready to move upwards way beyond 1.23.
The whole move in the USD will probably be as in past cycles.
If we look at long term moves the Euro moved down from 1.60 to lows of around 1.04.
Past upcycles based on the old DM charts were generally almost a doubling or halving depending...
This long term silver chart shows how speculative the metal is.
If we look at the Hunt brothers debacle in the 80s where they tried to corner the market it led to disaster.
The attempts by the Reddit crowd to send it up would normally fail.
We must be aware though that this price move could carry much further due to the devaluation of money in general.
The long term down trend of the Euro has been in force since reaching around 1.60.
The support in the 1.11 -1.12 level has resulted in very low volatility and a search for a base.
The Euro started at .90 and in my mind the thought arises that the cycle may not be finished.
A final decline to .90 would create the kind of panic that would finish the cycle and then...
European banks have been much maligned and languishing for years.
Some banks have been trading at yields of close to 6 per cent (UBS and BNP are good examples.)
Despite the bad news and continued QE, banks in Europe even Deutsche seem to be forming long term bases.
The bases seem to be rounding bottoms and despite the fact that I am not bullish in general the...