Dorsey Gold Report: by Woody Dorsey.
Mettle for Metal: “Fundamental” and “Technical” factors aligned with my Timing cycles for Summer strength. I had noted, in early May, that the trend was bullish and offered a new entry around 5/13. You had a shot. Stay nervous now.
Precious Stories: I advise against any absolute reliance on the Rational Mind. Markets move without obvious “advertising.” But, Covid, Currency and Political concerns could catalyze into a serious rip. Why not? A Crisis is never polite. Technicals and Cyclicals allow for a Catharsis. No one knows what up is.
Gold Monthly: As forecast, for years, “Monthly Highs due in 2020 & 2021.” The 3/9/20 High led to a crash resolved by a robust rally. This behavior ratifies the March low as key support. If you didn’t heed these bullish forecasts its hard to pretend to get super friendly now. Still, overbought markets can stay more overbought than anyone believes. There is an obvious magnet at the 8/2011 highs. So, Gold may have another dramatic move up. But, my weekly cycles allowed that at least a temporary conclusion was due in a specific time frame for months. That weekly interim high is due after Mid August. Remain aware of it.
Gold Weekly: Expected: “Strength this Summer.” Summer is still not over! The end of a move may seem obvious but it isn’t. Wait for it.
GDX Weekly: The equities have become more dynamic than the metal. Again: “Weekly high due late Summer.” It is most difficult to game an end game. The nominal interim weekly high is now due 8/13-8/25.
Gold Daily: The Daily chart shows a trending acceleration. This is penultimate to a flattening out before a final rally. May thrust up hard from 8/6ish.
GDX Daily: The GDX bottomed on 3/16 but was lagging the metal. I gave you the entry zone near 5/13. That worked but there is no commensurate tactical timing now. Market change their stripes. High near 7/27. Low due 8/6 ish.
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Information is for paid customers and may not be copied or distributed Copyright 2020