Gary Savage
Gary Savage Articles
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:
I promise you that the gold cartel will fight tooth and nail to prevent the gold price from breaking out. This means that the gold price will be stuck in a sideways.
Big money always manufactures an exit rally for themselves. That is what we are seeing in the general markets now. The only thing that can save the US economy now from a recession is for oil to fall below $80.
If you want to trade gold on a short to medium term, you will need to understand the manipulation in the gold markets. Gold is set-up to fleece the gold bugs...
Looks like a daily cycle low. Is this gold price move for real, a bounce or a weird ICL that occurred in this consolidation.
One wrong trade on leverage and you can give up so much more of your prior gains! Gold has 4-6 weeks of grinding lower.
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We might be moving into a minor daily cycle low. Gold came within a few dollars of its all-time record high and a profit taking event is underway here. Gold potential spots for a pullback bottom is around the $1,960 area but a more likely...
