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Big Days Coming For Gold

Tuesday, June 12, 2018 14:22
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Source: What Is That Whistling Sound

As the reader probably knows, two central bank meetings of high importance are coming.  The first, the Federal Reserve announcement is Wednesday June 13, and the second, the ECB meeting is on June 14th.  
While we anticipate that the gold price will resolve upward from an extremely tight range after either the first or second announcement, be prepared for a fake out move either way.  It is possible the central bankers will ignore the darkening economic and political shadows creeping upon the world stage and make hawkish pronouncements.  If so, we anticipate a down move for a few weeks before the market regains traction.
Needless to say, gravity will not be denied forever, and the following pattern should answer any questions as to where we are going in the medium term.  You could say we will soon experience gravity lessons.


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