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- Last Update: 14 August 2020, 14:43
8/12 - Gold found some temporary support around the 1875 area today and closed pretty strong. I am not sure if it is bear flagging or back on the horse again but the decline should not quite be as severe from here on out. To me the telltale sign that these are corrections for the metals in a bull run are the COMPLETE LACK OF INTEREST in DSLVF. After what happened to silver, the money balance is clearly on the side of the bull shares still.
I would say that last weeks DSLVF looks like a hammer candle so there is still time for it to get bought this week but its clearly not the inverse of USLVF when bid/ask is considered.
I noticed a new follower or maybe it is an old one that came back. You are always welcome here friends! -AND- Thank you for the votes!
8/11 - "Gold drops on coronavirus vaccine news." Uhhhh.... actually look at charts 1 and 2. Silver is about at its 20 year center trendline (and being rejected) and gold hit the trendline I drew on chart 2 back in 2016.
I do want to add the caveat that I redrew that "color blind" chart at the same angle and the trendline does work much higher (chart 3).
My long term calculations are 65 for silver and 2700 for gold to make a 40 to 1 G:S ratio.
I think support for silver is right around 22.5 and gold will find support around 1700 (1675).
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