Death of the USD
It is clear as day now that the Dollar has been under Distribution since the top in 2015. The USD is BEARISH and the longer this topping pattern persists then the bigger the drop. This will be the fuel needed for gold & silver to rise to new highs, well past $1900 & $50. I still believe the USD could rally some more here but already its fading away on the N.Korea news.
Based on the time of distribution the projected PnF target now stands at $61-63 with a short term target of $83.
Gold & Silver will have powerful moves once the dollar breaks the $92 level. That will be the point of recognition when everyone realises the USD is toast. The US stock market has some more upside left but once the bubble pops just like it did in 2001, that's when all the big $$ will start flowing into gold again.
Another Cup on Silver? Notice the rising trendline support, the downside is limited now. I hope to see $50 silver again in the next few years.
awesome
I hope so. It's been a bumpy ride for precious metals. I have some money invested in miner stocks as well, and I'm getting hammered. Even AG which is a solid silver producer is hitting 52 week lows. I can't really seeing precious metals go much lower.
I've covered how to profit in miners going fwd in a previous blog. I would say keep buying shares on dips, a little at a time. This could take some more time maybe till next year who knows. But definitely save some ammunition if we get further dips and don't forget physical
You got some good posts. Followed.
Thx friend I followed u