Gary Savage
Gary Savage Articles
In today's video, Gary Savage discusses current trends in energy and gold.
Taking a look at the stock market. Kind of the same principles apply to stocks as they do gold and we're probably closer to a bottom than top.
Gary Savage looks at gold and its expected volatility after the F1C meeting but that gold is doing what it typically does so far.
Breakouts late in the cycle usually fail.. USDX case in point. Gold has not been successfully pushed below the 200 dma. Trouble keeping the gold price suppressed with weaker USDX:
I think we're getting closer to that buy signal in the metals, gold and silver.
The bloodbath phase in the Euro, usually last 5-7 days, so a top in the US Dollar as early as by the end of this week. Implications for the metals and a lot sooner ending to the sell-off in gold/silver stocks.
The attack on the metals looked very bearish on Tuesday, the Fed is very desperate to fight inflation, and there will be more attacks. Right when there is a breakout, when traders are pulled in…the attack.
Energy is in an intermediate decline. There is one market that is set-up to produce a STRONG trending move! And that is the Precious Metals:
It is time to buy metals aggressively! Third attempt to breakout will succeed, a week or two left at most here to accumulate.
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We are getting pretty close to starting with some momentum to the upside. The gold cartel is trying to push gold back down below the support line around $1,920:
