Dorsey Gold Report 04/13/20

Mettle for Metal: The “Fundamental” and “Technical” stories for Gold are aligning with my timing cycles. Monthly cycles are important as we saw in Stocks but need corroboration from weekly and daily cycles. An usually fast move occurred. Monthly highs led to an immediate weekly low. Both trends are now positive. Daily patterns are frothy. Next entry 5/13ish. GDX will catch up.

Precious Stories: Asset movements always attract associated Market Stories. However an absolute reliance on the Rational mind is often misleading. Markets move without any obvious media “advertising.” There are phases when Stories become overtly recognized in alignment with Technical’s and Cyclical’s. Such, “Zoom Phases” can be exciting. The current combination of a Freaked Fed, a Humanitarian Crisis and a Gold Crash resolved by a new Breakout are notable.

Gold Monthly: I forecast, a “Monthly High in “2021 and one due in 2/2020.” The 3/9/20 High (6 months gains were erased in 8 days.) Crash was. resolved by a rally back to the highs and now, a new breakout. This is very bullish behavior. This rally has months to go should it mirror the prior 9/2011 top.

Gold Weekly: Gold behavior shows a Monthly High quickly followed by an Interim Low. It infers more upside. Strength due this Summer. GDX Weekly: The equities may be a bit frothy and may remain very volatile. These assets are poised for advances into the next weekly high due later this Summer. One may need to accept & navigate volatility.

Gold Daily: The Daily chart clearly shows dynamism confirming of a potential acceleration up. This background is supportive. Next entry due near 5/13.

GDX Daily: The GDX bottomed on 3/16 but has lagged the degree of upside. The Friday rally tells it is, “catching up.” The near term price suggests more gains towards the obvious Resistance near 32ish. Your first Stop is at 26.

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