Gold Green Shoots Galore

With a key US central bank announcement coming on Wednesday (I call it “Jay Day”), more green shoots are in play for gold.

A look at gold’s technical posture going into this key event.The daily gold chart.Note the “green shoot buy signal” in play on the 14,7,7 Stochastics oscillator.

A nice bounce from my $1671 buy zone has occurred, and Fed man Jay will likely determine whether the rally intensifies, or it fades and a double-bottom forms.

The short-term gold chart.An exciting inverse H&S bottom pattern is in play.

It will be the Fed that gives a breakout above the $1740 neckline a green or amber light.

It’s possible that wild trading around tomorrow’s announcement produces a second right shoulder on the chart, adding symmetry to the pattern.

The important US stock market chart.

If Fed man Jay engages in too much “hawk talk”, he’ll cause the stock market to crash, so it’s unlikely that he does that.

A crash is much more likely in the August-October time frame.That’s when the Fed could announce an end to printing money to buy short-term bonds. The result could be a stock market crash and a short-term swoon for gold.

That’s for later, not for now.

Is there any imminent news that could be more important for investors than tomorrow’s Fed meeting?

For the possible answer to that question, the exciting bitcoin chart.

A major exchange IPO is upcoming, and it could produce an earthshaking rally in some of the alt coins. With my blockchain newsletter, insider “King Crypto” and I help investors who are both newbies and experienced pros.

We highlight the cream of the alt coin crop, and the coming harvest looks to be… a mighty big one!

This IPO is so big that it stands to affect mainstream money managers as well as the crypto world.

Whether it’s gold, silver, crypto, and now platinum too, in the coming years private money looks set to outperform government fiat by a country mile.

The miners of private money, both crypto and metal, look like they are ready to outperform everything.

A look at the gold miners via GDX, the GDX daily chart.

Yesterday’s technical action was impressive.  The breakout above both the downtrend line and the $33 horizontal minor resistance zone is good news.

What is likely the world’s most awesome chart for the miners.

While it’s unknown if the current GDX rally from the $30 support zone will become the greatest rally in the history of gold stocks, there’s a good chance that it does. A breakout from the downtrend line is likely to be accompanied by a powerful crossover buy signal on the 14,5,5 Stochastics oscillator.Note the incredibly oversold position of that oscillator.It’s hinting that something very big and very positive is coming soon.

I’ve already bought the exciting gold $1671 support zone, and it appears that the strong hands of India and the COMEX commercial traders have been buyers there too.

For gold and the entire precious metals market, that’s a solid liquidity flows floor, but for investors who want even more, stay tuned because “Jay Day” could bring… green shoots galore!

Special Offer For Gold-Eagle Readers: Please send me an Email to [email protected] and I’ll send you my free “Get Jacked With Jay And GDXJ!” report.  I highlight a number of key GDXJ component stocks that could begin outlandish performance on Jay’s Fed announcement, with key buy and sell tactics for eager investors!

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Stewart Thomson is a retired Merrill Lynch broker. Stewart writes the Graceland Updates daily between 4am-7am. They are sent out around 8am-9am. The newsletter is attractively priced and the format is a unique numbered point form.  Giving clarity of each point and saving valuable reading time.

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Stewart Thomson is no longer an investment advisor. The information provided by Stewart and Graceland Updates is for general information purposes only. Before taking any action on any investment, it is imperative that you consult with multiple properly licensed, experienced and qualified investment advisors and get numerous opinions before taking any action. Your minimum risk on any investment in the world is: 100% loss of all your money. You may be taking or preparing to take leveraged positions in investments and not know it, exposing yourself to unlimited risks. This is highly concerning if you are an investor in any derivatives products. There is an approx $700 trillion OTC Derivatives Iceberg with a tiny portion written off officially. The bottom line: Are You Prepared?

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