Gold is having a hard time trading past the 90SMA as expected; both the MACD’s and Custom RSI are trading in the overbought ranges. The trend is neutral in Gold, so a strong negative divergence signal from any of these two indicators could result in a fast pullback for Gold. It has also not managed to close above $1260 on a weekly basis. Overall, the very long-term outlook for Gold is bullish and if you have no position in Gold bullion, use strong pullbacks to open new positions. However, we are not going to embrace Gold now and will close 1-2 of the positions we opened a few years ago as a form of insurance. With the trend indicator, we do not need to take out insurance anymore. Market Update March 21, 2016
As long as man does not evolve, man will find a way to rob from Peter and Paul. So Gold standard or rubbish standard matters not for you need to change the mindset of the beings that control either medium. A little knowledge is extremely dangerous and worse than ignorance and most of the hard money crowd understands next to nothing when it comes to hard money or Fiat money. That is why the Fed gave the hard money crowd a thrashing that they will never forget. It inflated the money supply to mind-boggling levels, strengthened the dollar and Hammered Gold. How did they achieve this feat? They controlled the velocity of money, and they were able to have their pie and their cake. Now they are buying up Gold at a lower price with the extra worthless paper they created while the hard money experts keep chanting nonsense that the Fed is backed into a corner. If it’s a corner, it must be a pretty cushy corner with all the comforts of a five-star hotel. The Fed is run by extremely intelligent albeit nefarious individuals. Gold has not fared all that well in the face of a weak dollar, and most of our indicators are now in the extremely overbought ranges. The trend is still neutral, but as it moved from negative to neutral, we will not be satisfied till it turns bullish. It goes without saying Gold will experience another strong correction, the only question that remains is whether the correction will end with a higher low or a lower low. A lower low will indicate that a bottom is not in, and more consolidation is necessary; a higher low will indicate that a bottom is in place and that the trend is likely to change direction.
Whatever you do, don’t listen to this guy; He has been wrong in 2011, 2012, 2013, 2014, 2015 and most likely 2016
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