RIght in cue, gold about to break out above 2050, and FED come out hawkish on inflation. We were due for a pullback in any event as the short term technicals well overbought. The problem the FED has is that oil looks to be on a bullish path again so CPI may struggle to get much lower, however with the economy in a downturn a recession is more likely. Like all global central banks, they are up the creek without a paddle. Of course the USD is higher not assisting PM’s.
IVR looks very overbought as I suggested Thursday, it will be interesting to see whether any announcement will offset some profit taking. This weeks action has certainly put us on the map, will be interesting to see how some of the small caps newsletters for punters picks up on the action. Have a great weekend fellow holders, don’t worry too much if the price corrects this week.
IVR Price at posting:
7.1¢ Sentiment: Buy Disclosure: Held
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