Dorsey Gold Report: by Woody Dorsey.
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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Information is for paid customers and may not be copied or distributed Copyright 2020