Finally it was a pennant still, with a breakout yesterday. Gold is rallying against the dollar, with the stocks.
I have never seen this before.
I think the explanation here is the same as in the stock market. Governments are printing horrible quantity of money in these days to save their a***.... They don't care the consequences . Only the present is important .
The upcoming US elections. The European union's problems. While they can cure it with money printing they will print. Sooner or later the bubble will pop and there will be a currency crisis.
The target price counted from the pennant is minimum 1400$. As I'm watching silver's breakout the PM sector will not stop for a while. If we printed a DCL on the Brexit night we could rally for 4 more weeks.
A possible entry point could be the 10 EMA tag at the 4 hrs chart. The same point could be a possibilty to exit the shorts.
These kind of breakouts are damn powerful. I don't know what will happen when commercials realize that they can't control the price and get out of gold's way. I wonder how the COT reports will look today.
And the dollar is not even falling... When the dollar starts to fall gold will go crazy....
I have never seen this before.
I think the explanation here is the same as in the stock market. Governments are printing horrible quantity of money in these days to save their a***.... They don't care the consequences . Only the present is important .
The upcoming US elections. The European union's problems. While they can cure it with money printing they will print. Sooner or later the bubble will pop and there will be a currency crisis.
The target price counted from the pennant is minimum 1400$. As I'm watching silver's breakout the PM sector will not stop for a while. If we printed a DCL on the Brexit night we could rally for 4 more weeks.
A possible entry point could be the 10 EMA tag at the 4 hrs chart. The same point could be a possibilty to exit the shorts.
These kind of breakouts are damn powerful. I don't know what will happen when commercials realize that they can't control the price and get out of gold's way. I wonder how the COT reports will look today.
And the dollar is not even falling... When the dollar starts to fall gold will go crazy....
Breakout from the flag