Lots Of Divergence, But Need Buying Trigger
news.goldseek.com / By: Avi Gilburt / 29 December 2016
As I have now been publishing my analysis on markets for a bit over 5 years, I have seen these set ups quite a number of times on many different time scales. You see, the metals complex has now dropped for months and even deeper than we had initially expected back in September when we began looking down after the first corrective bounce. And, we have been dropping since that time with positive divergences developing on most of the charts we track.
When we have seen these same set ups in the past, the longer and deeper they go, the stronger the reversal we usually see. Again, this is an exercise in probabilities, and the probabilities suggest that the market will likely turn up in a very strong manner after this type of positively divergent decline.
The best example of this same scenario that I can remember was back in 2011. The stock market had just seen a strong rally off a major bottoming in 2011, but was dropping during the month of November, which made many people believe the prior rally was going to be completely nullified. I remember this period of time well since I was calling that drop in November a corrective pullback, which I believed was setting up a strong rally. Many were fighting me on that perspective at the time, believing that the market was going to be dropping much, much lower. In fact, when you look at the pattern, it even looks a lot like the current gold pattern, and the sentiment is clearly in line with that time period as well.
The post Lots Of Divergence, But Need Buying Trigger appeared first on Silver For The People.
Source: http://silveristhenew.com/2016/12/29/lots-of-divergence-but-need-buying-trigger/
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