It has been awhile since I have posted anything, simply because I am enjoying the CLOWN SHOW that has been unfolding here in the good ole US of A!
When last I posted gold had jumped up from the low of $1780 to its most recent high of $1880, before selling off this week.
Silver has seen some similar action in the last few sessions.
The miners got a nice bounce back in late November but are now on a downward spiral.
GDX closed below the 18 day moving average, the stochastic is turned down and there is a "gap" in the chart at a lower level.
For those who are interested, today qualified for a "moonbeam" day, one that would indicate that more downward action is coming.
The Bears certainly have the lower Bollinger band in their target.
Next week the Federal reserve meets so that should cause some fireworks.
Hey does anyone remember back on Election Day when I said it would be weeks before we knew who won the Presidential Election?
In case you forgot I linked the post below.
@handofzara/is-gold-dancing-with-moon-beams
I hope you are all doing well and keeping relatively calm BUT man oh man isn't the show fun!
Well here I am stuck in the middle with you.
My best guess is we get one more really good stacking opportunity between now and December 21st, just in time for Christmas.
Peace out and stack on!