np
below is the gold futures daily chart
ive given up explaining TA detail to people.
eg I guarantee almost no one did what I suggested in April and looked back at silver price charts from 1970s. if you did you would have observed several things relevant to how the market is acting now.
But by looking at the chart above you should be able to form some views on why I was saying ~1800 was my target for end of the consolidation
Still to be proven ofc.. but logic tells you this is a classic headfake lower - driving all the fotm herd trading money out of the space - and fundamentals show US and global debt is only going higher on trend, inflation rate also
the market got out over its skis in expecting $us3t covid-2 package in July/Aug, pricing that into gold/silver to a degree and has now walked all of that back out + put in some further depricing from improved US gdp and gdp/debt ratio
but the trends havent changed. gold/silver is like all the other markets - a forward pricing mechanism
so beyond charts - you can think about what the future 6-9months look like in terms of US debt/gdp ratio and US debt total + potential for any above trend inflation
the debt and deficit is the trend for gold/silver - but inflation will be the x factor as and when the investment market starts to perceive it as being a sustained trend uptick
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