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Gold: Here we Go Again?

Friday, February 12, 2016 10:21

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by Martin Armstrong
Armstrong Economics

QUESTION: Mr. Armstrong. Are you calling this rally in gold a false move? What does it take to get you bullish? Will you ever be bullish?

ANSWER: When all markets line up and display that there is a trend in motion, which is then definitive, I will clearly state so. Gold has performed in a typical manner. When it closed ABOVE our year-end number of 1044, I stated it was not as weak as it appeared. It then started to elect ONLY the Bullish Reversals, not Bearish. There was a turning point coming up and it was moving higher into it. So what is the big deal? The Dow closed lower at year-end, warning of a correction, and the euro should rally back to the 113 to 116 level. Everything was in line for a reaction, not a major long-term change in trend. That would require political reform in Europe at the very least. Here is the technical analysis for today. It shows the extreme resistance at 1315, and underlying support at the 1216 and 1207 levels. It simply is what it is. This is not opinion nonsense.

Continue Reading at ArmstrongEconomics.com…

Source: http://financialsurvivalnetwork.com/2016/02/gold-here-we-go-again/?utm_source=rss&utm_medium=rss&utm_campaign=gold-here-we-go-again

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