It's either "blast off" in to space, or off a cliff edge!!
Gold and silver remain in the torture chamber of congestion, meaning there is confusion on which way the market will break next..... The trends in both are higher, silver looks better than gold and both should continue to make new highs. However, the pattern itself suggests investors and traders are confused!
This type of action will typically cause many to make bad decisions in their trades and investments. Markets and congestion will always break out in one direction or another. Although the Bulls and the Bears are being confused with this recent action, my expectations are for a breakout to the upside.
Understanding the congestion set up is a huge part of successful investing and trading. You need to realize that markets will often break out in the direction they had been trending previously.
A small part of my #mene, GOLD collecrion
The key to congestion trading is patience, discipline and letting the pattern resolve itself. The trend is up for gold and silver; we continue to remain long.
My growing #mene PLATINUM collection
Platinum is also in congestion and should break to the downside. I expect the bear market in platinum to continue. Typically, trends will end with a blowoff formation, which I have not seen in any of the metals yet. This leaves me long gold, silver, and short platinum.
But my question is why gold is still Relevant?
If 5000+ years of history have taught us anything, it's that GOLD has always been and always will be "money"...
It ticks all the boxes for an asset class that fulfills the criteria of what money should be. You've given me an idea of what I can blog about today, so come back in a few hours and read my blog today and I'll go in to a lot more detail.
Sure. But before you write I have some points.
I believe gold has value because people gave it. Just like our currency.
With modern technology and science gold can be mined easily and in more quantity. But still because of few people benefits of that are not reaching to common people. I hope you will put a light on it in your blog.
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