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Gold’s Breakout Virtually Certain Now

Thursday, February 8, 2018 17:22
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Headline: Bitcoin & Blockchain Searches Exceed Trump! Blockchain Stocks Are Next!

Source: What Is That Whistling Sound

A shift is presently occurring in the markets.  
The major indexes are hesitating.
Gold prices are holding up reasonably well despite interest rate hikes.
Bond yields are climbing.
Washington politics are toxic.

In this environment, all it takes is a small ripple of fear as we saw on Feb 2nd for the indexes to shift money out of a bloated stock market.  While we have not seen big flows to our favorite yellow safe haven, it is our view that this is just starting now.


We can see that GDX has a hammer candle and is backtesting a trendline.  It is our view that a low has likely been put in today.  A trigger to buy gold stocks could be at the high of today around 22.02.
While we do not know if this will be “the” major low, the weekly pattern looks interesting and could be on the verge of finally breaking out after more than a year of bouncing between $21 and $25.
 



Source: http://whatisthatwhistlingsound.blogspot.com/2018/02/golds-breakout-virtually-certain-now.html

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